Precigen (NASDAQ:PGEN) Issues Earnings Results, Beats Expectations By $0.09 EPS
by Danessa Lincoln · The Markets DailyPrecigen (NASDAQ:PGEN – Get Free Report) posted its earnings results on Wednesday. The biotechnology company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.09, FiscalAI reports. The company had revenue of $4.57 million for the quarter, compared to analyst estimates of $8.29 million. Precigen had a positive return on equity of 1,066.10% and a negative net margin of 3,912.92%.
Precigen Stock Down 1.0%
NASDAQ:PGEN traded down $0.03 during mid-day trading on Wednesday, hitting $3.10. 6,236,974 shares of the company’s stock traded hands, compared to its average volume of 4,049,288. The company has a fifty day moving average of $4.13 and a 200 day moving average of $3.99. The company has a debt-to-equity ratio of 2.22, a quick ratio of 3.95 and a current ratio of 4.04. Precigen has a twelve month low of $1.11 and a twelve month high of $5.47. The company has a market capitalization of $1.10 billion, a P/E ratio of -2.23 and a beta of 1.10.
Analyst Upgrades and Downgrades
A number of research analysts have recently issued reports on the stock. Zacks Research raised shares of Precigen from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Precigen in a research report on Thursday, January 22nd. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $8.50.
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Institutional Investors Weigh In On Precigen
Large investors have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd acquired a new position in shares of Precigen during the third quarter valued at about $39,000. Russell Investments Group Ltd. acquired a new stake in Precigen in the 3rd quarter worth approximately $41,000. Mason Investment Advisory Services Inc. acquired a new stake in Precigen in the 4th quarter worth approximately $42,000. Abel Hall LLC purchased a new stake in Precigen during the 4th quarter worth approximately $44,000. Finally, NewEdge Advisors LLC purchased a new stake in Precigen during the 4th quarter worth approximately $45,000. Hedge funds and other institutional investors own 33.51% of the company’s stock.
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.