Insider Selling: Precigen (NASDAQ:PGEN) CEO Sells 119,250 Shares of Stock

by · The Markets Daily

Precigen, Inc. (NASDAQ:PGEN – Get Free Report) CEO Helen Sabzevari sold 119,250 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $4.36, for a total value of $519,930.00. Following the sale, the chief executive officer owned 3,768,872 shares of the company’s stock, valued at approximately $16,432,281.92. This trade represents a 3.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Precigen Price Performance

Shares of NASDAQ PGEN traded down $0.22 during midday trading on Monday, hitting $4.12. The stock had a trading volume of 4,830,773 shares, compared to its average volume of 4,257,618. The company has a quick ratio of 4.12, a current ratio of 4.82 and a debt-to-equity ratio of 4.62. The stock has a 50 day simple moving average of $4.02 and a 200-day simple moving average of $4.09. The company has a market capitalization of $1.47 billion, a PE ratio of -3.49 and a beta of 1.06. Precigen, Inc. has a 1 year low of $1.28 and a 1 year high of $5.47.

Precigen (NASDAQ:PGEN – Get Free Report) last issued its quarterly earnings results on Wednesday, May 13th. The biotechnology company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.03) by $0.01. The firm had revenue of $23.25 million during the quarter, compared to analysts’ expectations of $20.81 million. Precigen had a positive return on equity of 717.50% and a negative net margin of 646.99%. On average, sell-side analysts expect that Precigen, Inc. will post 0.04 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Zacks Research upgraded shares of Precigen from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Precigen in a research note on Tuesday, April 21st. Citigroup reiterated an “outperform” rating on shares of Precigen in a report on Thursday, May 14th. HC Wainwright raised their target price on shares of Precigen from $11.00 to $14.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Wall Street Zen cut Precigen from a “buy” rating to a “hold” rating in a report on Sunday. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $12.50.

Check Out Our Latest Stock Report on Precigen

Hedge Funds Weigh In On Precigen

Institutional investors have recently bought and sold shares of the company. State of Wyoming purchased a new stake in shares of Precigen in the 1st quarter valued at approximately $27,000. NBC Securities Inc. purchased a new stake in shares of Precigen during the 4th quarter valued at approximately $38,000. Caitong International Asset Management Co. Ltd acquired a new position in Precigen in the third quarter valued at approximately $39,000. Royal Bank of Canada lifted its holdings in Precigen by 102.6% in the first quarter. Royal Bank of Canada now owns 10,714 shares of the biotechnology company’s stock valued at $41,000 after acquiring an additional 5,426 shares during the last quarter. Finally, Russell Investments Group Ltd. purchased a new position in Precigen in the third quarter worth approximately $41,000. 33.51% of the stock is owned by hedge funds and other institutional investors.

About Precigen

(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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