Precigen (NASDAQ:PGEN) Director Jeffrey Kindler Sells 67,523 Shares

Precigen, Inc. (NASDAQ:PGEN) Director Jeffrey Kindler sold 67,523 shares of Precigen stock in a transaction on Monday, September 29th. The stock was sold at an average price of $3.60, for a total value of $243,082.80. Following the sale, the director directly owned 452,907 shares of the company’s stock, valued at $1,630,465.20. This represents a 12.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Precigen Stock Performance

NASDAQ:PGEN opened at $3.34 on Thursday. Precigen, Inc. has a 52 week low of $0.65 and a 52 week high of $5.22. The firm’s 50-day simple moving average is $3.21 and its 200 day simple moving average is $2.10. The firm has a market cap of $995.22 million, a price-to-earnings ratio of -7.95 and a beta of 1.61.

Precigen (NASDAQ:PGEN) last announced its earnings results on Tuesday, August 12th. The biotechnology company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.03. Precigen had a negative net margin of 2,868.66% and a negative return on equity of 842.83%. The firm had revenue of $0.86 million for the quarter, compared to analyst estimates of $0.67 million. Sell-side analysts anticipate that Precigen, Inc. will post -0.32 EPS for the current year.

Hedge Funds Weigh In On Precigen

A number of hedge funds have recently modified their holdings of the business. Adage Capital Partners GP L.L.C. grew its stake in shares of Precigen by 3.8% in the first quarter. Adage Capital Partners GP L.L.C. now owns 11,276,000 shares of the biotechnology company’s stock worth $16,801,000 after purchasing an additional 410,595 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Precigen by 7.7% during the 2nd quarter. Geode Capital Management LLC now owns 3,749,182 shares of the biotechnology company’s stock worth $5,325,000 after buying an additional 269,580 shares during the period. Parkman Healthcare Partners LLC bought a new stake in shares of Precigen in the 1st quarter valued at about $4,755,000. Bank of America Corp DE grew its position in shares of Precigen by 258.2% in the 2nd quarter. Bank of America Corp DE now owns 832,261 shares of the biotechnology company’s stock valued at $1,182,000 after buying an additional 599,914 shares during the last quarter. Finally, Marshall Wace LLP acquired a new stake in shares of Precigen in the second quarter valued at about $524,000. Institutional investors and hedge funds own 33.51% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Wall Street Zen upgraded Precigen from a “sell” rating to a “hold” rating in a research note on Saturday, July 12th. HC Wainwright restated a “buy” rating and issued a $8.50 price target on shares of Precigen in a research report on Tuesday, August 19th. JMP Securities upped their price objective on shares of Precigen from $6.00 to $8.00 and gave the stock a “market outperform” rating in a research report on Tuesday, August 19th. JPMorgan Chase & Co. upgraded shares of Precigen from an “underweight” rating to a “neutral” rating in a research report on Friday, August 15th. Finally, Citigroup reissued an “outperform” rating on shares of Precigen in a research note on Tuesday, August 19th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $8.25.

About Precigen

Precigen, Inc operates as a discovery and clinical-stage biopharmaceutical company that develops gene and cell therapies using precision technology to target diseases in therapeutic areas of immuno-oncology, autoimmune disorders, and infectious diseases. It operates through two segments, Biopharmaceuticals and Exemplar.