Precigen (NASDAQ:PGEN) Trading Down 4.9% – Should You Sell?

by · The Markets Daily

Shares of Precigen, Inc. (NASDAQ:PGEN – Get Free Report) were down 4.9% during trading on Tuesday . The company traded as low as $3.63 and last traded at $3.6340. Approximately 2,045,337 shares changed hands during mid-day trading, a decline of 52% from the average daily volume of 4,271,069 shares. The stock had previously closed at $3.82.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Precigen in a research note on Wednesday, October 8th. JMP Securities increased their target price on shares of Precigen from $6.00 to $8.00 and gave the stock a “market outperform” rating in a report on Tuesday, August 19th. Citigroup reissued an “outperform” rating on shares of Precigen in a research report on Tuesday, August 19th. HC Wainwright upped their price objective on shares of Precigen from $8.50 to $9.00 and gave the company a “buy” rating in a research report on Friday, November 14th. Finally, Wall Street Zen downgraded Precigen from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $8.50.

Get Our Latest Stock Report on Precigen

Precigen Stock Performance

The stock has a market cap of $1.32 billion, a P/E ratio of -2.69 and a beta of 1.71. The company has a debt-to-equity ratio of 2.22, a current ratio of 4.04 and a quick ratio of 3.95. The stock’s 50 day simple moving average is $3.82 and its two-hundred day simple moving average is $2.77.

Precigen (NASDAQ:PGEN – Get Free Report) last issued its quarterly earnings data on Thursday, November 13th. The biotechnology company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.03). The company had revenue of $2.92 million for the quarter, compared to analyst estimates of $0.67 million. Precigen had a positive return on equity of 1,066.10% and a negative net margin of 3,912.92%. As a group, research analysts forecast that Precigen, Inc. will post -0.32 EPS for the current year.

Insider Transactions at Precigen

In other news, CFO Harry Jr. Thomasian purchased 8,284 shares of the business’s stock in a transaction dated Thursday, September 25th. The shares were bought at an average cost of $3.62 per share, for a total transaction of $29,988.08. Following the completion of the acquisition, the chief financial officer directly owned 465,694 shares in the company, valued at approximately $1,685,812.28. This trade represents a 1.81% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Randal J. Kirk sold 937,308 shares of the stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $3.83, for a total value of $3,589,889.64. Following the transaction, the director owned 5,554,244 shares of the company’s stock, valued at approximately $21,272,754.52. The trade was a 14.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders bought 28,216 shares of company stock worth $115,816 and sold 9,950,572 shares worth $37,720,437. 47.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Precigen

Several hedge funds have recently made changes to their positions in the business. Headlands Technologies LLC bought a new stake in shares of Precigen in the first quarter worth $87,000. Deutsche Bank AG increased its stake in Precigen by 35.3% in the 1st quarter. Deutsche Bank AG now owns 91,031 shares of the biotechnology company’s stock valued at $136,000 after buying an additional 23,729 shares during the last quarter. Nuveen LLC bought a new stake in Precigen during the 1st quarter worth about $275,000. Mill Creek Capital Advisors LLC boosted its stake in shares of Precigen by 131.8% during the 1st quarter. Mill Creek Capital Advisors LLC now owns 255,000 shares of the biotechnology company’s stock worth $380,000 after buying an additional 145,000 shares during the last quarter. Finally, MetLife Investment Management LLC bought a new position in shares of Precigen in the 1st quarter valued at about $124,000. 33.51% of the stock is owned by institutional investors.

About Precigen

(Get Free Report)

Precigen, Inc operates as a discovery and clinical-stage biopharmaceutical company that develops gene and cell therapies using precision technology to target diseases in therapeutic areas of immuno-oncology, autoimmune disorders, and infectious diseases. It operates through two segments, Biopharmaceuticals and Exemplar.

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