Precigen’s (PGEN) “Buy” Rating Reaffirmed at HC Wainwright

by · The Markets Daily

Precigen (NASDAQ:PGEN – Get Free Report)‘s stock had its “buy” rating reissued by equities research analysts at HC Wainwright in a report issued on Monday,Benzinga reports. They currently have a $14.00 price objective on the biotechnology company’s stock. HC Wainwright’s target price points to a potential upside of 123.29% from the company’s previous close.

PGEN has been the subject of several other reports. Wall Street Zen downgraded shares of Precigen from a “buy” rating to a “hold” rating in a research note on Sunday, May 31st. Citizens Jmp upped their price objective on Precigen from $9.00 to $11.00 and gave the company a “market outperform” rating in a research note on Thursday, May 14th. Citigroup restated an “outperform” rating on shares of Precigen in a research note on Thursday, May 14th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Precigen in a research note on Friday, July 17th. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Precigen has an average rating of “Hold” and a consensus target price of $12.50.

Check Out Our Latest Analysis on PGEN

Precigen Stock Performance

NASDAQ PGEN opened at $6.27 on Monday. The company has a current ratio of 4.82, a quick ratio of 4.12 and a debt-to-equity ratio of 4.62. The firm’s fifty day moving average price is $4.98 and its two-hundred day moving average price is $4.41. Precigen has a 1 year low of $1.63 and a 1 year high of $6.28. The firm has a market capitalization of $2.24 billion, a P/E ratio of -5.31 and a beta of 1.02.

Precigen (NASDAQ:PGEN – Get Free Report) last announced its quarterly earnings data on Wednesday, May 13th. The biotechnology company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.01. The company had revenue of $23.25 million during the quarter, compared to the consensus estimate of $20.81 million. Precigen had a negative net margin of 646.99% and a positive return on equity of 717.50%. As a group, research analysts anticipate that Precigen will post -0.02 EPS for the current year.

Insider Activity at Precigen

In related news, COO Rutul R. Shah sold 42,924 shares of Precigen stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $5.85, for a total transaction of $251,105.40. Following the completion of the sale, the chief operating officer owned 497,751 shares of the company’s stock, valued at approximately $2,911,843.35. The trade was a 7.94% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Helen Sabzevari sold 346,836 shares of the company’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $5.89, for a total transaction of $2,042,864.04. Following the completion of the transaction, the chief executive officer owned 3,768,872 shares in the company, valued at approximately $22,198,656.08. This trade represents a 8.43% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 922,728 shares of company stock worth $5,028,853. 41.40% of the stock is owned by corporate insiders.

Institutional Trading of Precigen

Several hedge funds have recently added to or reduced their stakes in the company. AQR Capital Management LLC boosted its stake in Precigen by 216.9% in the 1st quarter. AQR Capital Management LLC now owns 63,179 shares of the biotechnology company’s stock valued at $94,000 after purchasing an additional 43,245 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Precigen by 12.5% during the 1st 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 during the period. Strs Ohio acquired a new stake in shares of Precigen during the first quarter worth $70,000. Geode Capital Management LLC lifted its holdings in shares of Precigen by 7.7% during the second 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 in the last quarter. Finally, Creative Planning boosted its position in shares of Precigen by 127.8% in the second quarter. Creative Planning now owns 94,291 shares of the biotechnology company’s stock valued at $134,000 after acquiring an additional 52,901 shares during the period. 33.51% of the stock is owned by institutional investors and hedge funds.

Precigen Company Profile

(Get Free Report)

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.

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