Precigen, Inc. (NASDAQ:PGEN) Given Consensus Recommendation of "Moderate Buy" by Analysts

Key Points

• Analyst sentiment is moderately bullish: Five analysts collectively rate Precigen a “Moderate Buy,” with three buys, one strong buy and one sell. The average 12-month price target is $14.50, well above the $7.89 opening price.
• Precigen reported quarterly revenue of $54.98 million, far exceeding the $27.98 million consensus estimate, while earnings per share of $0.05 beat expectations by $0.06. Revenue increased more than 6,300% year over year.
• Company insiders sold 991,271 shares worth approximately $6.21 million during the latest quarter, although insiders still own 41.4% of Precigen’s stock.

Precigen, Inc. (NASDAQ:PGEN - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the five research firms that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, three have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $14.50.

A number of brokerages have recently issued reports on PGEN. Zacks Research raised Precigen from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 5th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Precigen in a research report on Friday, July 17th. Wall Street Zen upgraded Precigen from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 8th. Finally, HC Wainwright boosted their price objective on shares of Precigen from $14.00 to $18.00 and gave the company a "buy" rating in a research report on Wednesday, August 5th.

Precigen Stock Up 2.5%

Shares of Precigen stock opened at $7.89 on Wednesday. The company has a market cap of $2.81 billion, a P/E ratio of -7.59 and a beta of 1.02. 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 $8.04. The firm has a fifty day moving average of $6.62 and a two-hundred day moving average of $5.09.

Precigen (NASDAQ:PGEN - Get Free Report) last issued its earnings results on Tuesday, August 4th. The biotechnology company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.06. Precigen had a negative net margin of 183.98% and a positive return on equity of 423.75%. The business had revenue of $54.98 million for the quarter, compared to the consensus estimate of $27.98 million. The company's revenue was up 6322.7% on a year-over-year basis. On average, analysts forecast that Precigen will post 0.25 earnings per share for the current year.

Insider Transactions at Precigen

In other news, CEO Helen Sabzevari sold 346,836 shares of the business's stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $5.89, for a total transaction of $2,042,864.04. Following the completion of the sale, the chief executive officer owned 3,768,872 shares in the company, valued at approximately $22,198,656.08. The trade was a 8.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Rutul Shah sold 42,924 shares of the company's stock in a transaction on Monday, June 29th. The stock was sold at an average price of $5.85, for a total transaction of $251,105.40. Following the sale, the chief operating officer directly owned 497,751 shares of the company's stock, valued at approximately $2,911,843.35. This trade represents a 7.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 991,271 shares of company stock valued at $6,208,620. 41.40% of the stock is currently owned by company insiders.

Institutional Trading of Precigen

Several institutional investors have recently added to or reduced their stakes in the business. State of Wyoming acquired a new stake in shares of Precigen during the 1st quarter worth approximately $27,000. Royal Bank of Canada increased its holdings in shares of Precigen by 102.6% during the first quarter. Royal Bank of Canada now owns 10,714 shares of the biotechnology company's stock valued at $41,000 after purchasing an additional 5,426 shares during the period. Chicago Partners Investment Group LLC acquired a new stake in shares of Precigen in the 1st quarter worth approximately $43,000. Y Intercept Hong Kong Ltd bought a new position in Precigen during the 1st quarter valued at $49,000. Finally, Nations Financial Group Inc. IA ADV bought a new position in Precigen during the first quarter valued at about $60,000. Institutional investors own 33.51% of the company's stock.

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.

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