Precigen (NASDAQ:PGEN) CFO Harry Jr. Thomasian Sells 41,884 Shares

Precigen, Inc. (NASDAQ:PGEN) CFO Harry Jr. Thomasian sold 41,884 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $4.36, for a total transaction of $182,614.24. Following the completion of the sale, the chief financial officer owned 554,535 shares in the company, valued at $2,417,772.60. The trade was a 7.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Precigen Price Performance

Shares of NASDAQ:PGEN opened at $4.12 on Tuesday. The firm’s 50 day moving average is $4.04 and its two-hundred day moving average is $4.10. Precigen, Inc. has a 52 week low of $1.28 and a 52 week high of $5.47. The firm has a market capitalization of $1.47 billion, a P/E ratio of -3.49 and a beta of 1.06. The company has a current ratio of 4.82, a quick ratio of 4.12 and a debt-to-equity ratio of 4.62.

Precigen (NASDAQ:PGEN) last announced its quarterly earnings results on Wednesday, May 13th. The biotechnology company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.03) by $0.01. Precigen had a negative net margin of 646.99% and a positive return on equity of 717.50%. The company had revenue of $23.25 million for the quarter, compared to analyst estimates of $20.81 million. Analysts anticipate that Precigen, Inc. will post 0.04 earnings per share for the current year.

Institutional Trading of Precigen

A number of large investors have recently added to or reduced their stakes in PGEN. AQR Capital Management LLC boosted its holdings in Precigen by 216.9% during the first quarter. AQR Capital Management LLC now owns 63,179 shares of the biotechnology company’s stock worth $94,000 after buying an additional 43,245 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Precigen by 12.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 81,610 shares of the biotechnology company’s stock worth $122,000 after buying an additional 9,043 shares in the last quarter. Strs Ohio acquired a new position in Precigen in the 1st quarter worth approximately $70,000. Geode Capital Management LLC boosted its stake in Precigen by 7.7% in the 2nd quarter. Geode Capital Management LLC now owns 3,749,182 shares of the biotechnology company’s stock worth $5,325,000 after purchasing an additional 269,580 shares during the period. Finally, Creative Planning boosted its stake in Precigen by 127.8% in the 2nd quarter. Creative Planning now owns 94,291 shares of the biotechnology company’s stock worth $134,000 after purchasing an additional 52,901 shares during the period. 33.51% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on PGEN shares. Weiss Ratings restated a “sell (d-)” rating on shares of Precigen in a research note on Tuesday, April 21st. Zacks Research upgraded shares of Precigen from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 10th. Citigroup reiterated an “outperform” rating on shares of Precigen in a research note on Thursday, May 14th. HC Wainwright raised their price objective on shares of Precigen from $11.00 to $14.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. Finally, Citizens Jmp raised their price objective on shares of Precigen from $9.00 to $11.00 and gave the company a “market outperform” rating in a research note on Thursday, May 14th. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $12.50.

Precigen Company Profile

Precigen, Inc (NASDAQ: PGEN) is a biotechnology company focused on the discovery, development and commercialization of genetic medicines. The company leverages proprietary gene and cell therapy platforms to design targeted therapies for oncology, infectious diseases and rare conditions. Precigen’s approach combines synthetic biology, immuno-oncology and microbiome engineering to create precision treatments intended to enhance efficacy while minimizing off-target effects.

The centerpiece of Precigen’s technology is its OmniCAR platform, which enables the rapid generation of adaptable chimeric antigen receptor (CAR) T-cell products.