Precigen, Inc. (NASDAQ:PGEN) Stock Now Rated “Buy” by Sell-Side Analysts

Shares of Precigen, Inc. (NASDAQ:PGEN) have been given a consensus rating of “Buy” by the six analysts that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, three have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $13.67.

PGEN has been the topic of a number of recent research reports. HC Wainwright lifted their target price on shares of Precigen from $14.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Precigen in a research note on Friday, July 17th. B. Riley Financial started coverage on shares of Precigen in a research report on Friday. They set a “buy” rating and a $12.00 price objective on the stock. Wall Street Zen upgraded Precigen from a “hold” rating to a “strong-buy” rating in a research report on Saturday, August 8th. Finally, Zacks Research upgraded Precigen from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 5th.

Insider Transactions at Precigen

In related news, Director Jeffrey Kindler sold 185,000 shares of the stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $7.44, for a total transaction of $1,376,400.00. Following the completion of the sale, the director directly owned 17,100 shares of the company’s stock, valued at $127,224. This trade represents a 91.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Rutul Shah sold 15,342 shares of Precigen stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $7.50, for a total transaction of $115,065.00. Following the completion of the transaction, the chief operating officer owned 468,865 shares in the company, valued at approximately $3,516,487.50. This trade represents a 3.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 572,940 shares of company stock worth $3,749,510 over the last 90 days. 41.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Engineers Gate Manager LP boosted its holdings in Precigen by 207.8% in the 2nd quarter. Engineers Gate Manager LP now owns 40,880 shares of the biotechnology company’s stock valued at $233,000 after purchasing an additional 27,600 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new position in Precigen during the 2nd quarter worth approximately $73,000. Squarepoint Ops LLC raised its stake in shares of Precigen by 462.8% during the 2nd quarter. Squarepoint Ops LLC now owns 353,272 shares of the biotechnology company’s stock worth $2,014,000 after buying an additional 290,505 shares in the last quarter. Arizona State Retirement System raised its stake in shares of Precigen by 10.5% during the 2nd quarter. Arizona State Retirement System now owns 53,713 shares of the biotechnology company’s stock worth $306,000 after buying an additional 5,086 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Precigen in the 2nd quarter valued at approximately $227,000. 33.51% of the stock is owned by hedge funds and other institutional investors.

Precigen Price Performance

PGEN opened at $7.75 on Wednesday. The business’s 50-day simple moving average is $6.78 and its 200-day simple moving average is $5.18. The company has a debt-to-equity ratio of 2.15, a quick ratio of 3.89 and a current ratio of 4.58. Precigen has a one year low of $2.99 and a one year high of $8.27. The stock has a market capitalization of $2.76 billion, a P/E ratio of -7.45 and a beta of 1.02.

Precigen (NASDAQ:PGEN) last announced its earnings results on Tuesday, August 4th. The biotechnology company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.06. The firm had revenue of $54.98 million during the quarter, compared to analysts’ expectations of $27.98 million. Precigen had a positive return on equity of 423.75% and a negative net margin of 183.98%.Precigen’s revenue for the quarter was up 6322.7% on a year-over-year basis. Analysts anticipate that Precigen will post 0.24 EPS for the current year.

Precigen Company Profile

Precigen, Inc (NASDAQ:PGEN) is a biotechnology company focused on developing gene and cell therapies for cancer and other serious diseases. The company uses its synthetic biology platforms to engineer targeted medicines designed to improve treatment effectiveness, durability and safety.

Precigen’s technology portfolio includes its UltraCAR-T platform for developing next-generation CAR-T cell therapies, the AdenoVerse platform for gene delivery and immunotherapy applications, and ActoBiotics technology for the localized delivery of therapeutic proteins.