Precigen, Inc. (NASDAQ:PGEN) Stock Has Average Price Target of $13.50

Key Points

• Analysts rate Precigen “Moderate Buy”: four of six covering firms recommend buying, one recommends holding, and one recommends selling. Their average 12-month price target is $13.50.
• Precigen reported quarterly EPS of $0.08, beating the $0.06 consensus, while revenue of $74.15 million topped estimates of $71.55 million and rose sharply year over year.
• Company insiders sold 235,000 shares worth about $1.75 million over 90 days; insiders retain 41.4% ownership. Institutional investors own 33.51% of the stock.

Precigen, Inc. (NASDAQ:PGEN - Get Free Report) has received an average rating of "Moderate Buy" from the six research firms that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have given a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $13.50.

A number of analysts have commented on the company. Citigroup reissued a "market outperform" rating on shares of Precigen in a report on Thursday, November 5th. Wall Street Zen raised Precigen from a "buy" rating to a "strong-buy" rating in a report on Sunday. Citizens Jmp increased their price objective on Precigen from $11.00 to $12.00 and gave the company a "market outperform" rating in a research report on Thursday, November 5th. Raymond James Financial set a $12.00 price objective on Precigen in a research report on Thursday, November 5th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Precigen in a report on Thursday, October 15th.

Precigen Stock Performance

Precigen stock opened at $4.72 on Thursday. Precigen has a twelve month low of $3.04 and a twelve month high of $8.98. The company has a market capitalization of $1.69 billion, a P/E ratio of 47.20 and a beta of 1.01. The stock's 50 day moving average is $6.84 and its 200 day moving average is $5.28. The company has a quick ratio of 4.83, a current ratio of 5.58 and a debt-to-equity ratio of 1.12.

Precigen (NASDAQ:PGEN - Get Free Report) last issued its quarterly earnings results on Wednesday, November 4th. The biotechnology company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.02. The firm had revenue of $74.15 million during the quarter, compared to the consensus estimate of $71.55 million. Precigen had a return on equity of 57.93% and a net margin of 15.55%. The company's revenue was up 2437.6% on a year-over-year basis. During the same period last year, the company earned ($1.06) earnings per share. On average, equities research analysts predict that Precigen will post 0.23 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Jeffrey B. Kindler sold 185,000 shares of Precigen stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $7.44, for a total value of $1,376,400.00. Following the completion of the sale, the director directly owned 17,100 shares in the company, valued at $127,224. The trade was a 91.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Rutul R. Shah sold 34,658 shares of Precigen stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $7.50, for a total transaction of $259,935.00. Following the completion of the sale, the chief operating officer owned 465,012 shares of the company's stock, valued at $3,487,590. This represents a 6.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 235,000 shares of company stock worth $1,751,400 in the last 90 days. Company insiders own 41.40% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Patient Capital Management LLC purchased a new stake in Precigen in the second quarter worth approximately $108,511,000. BlackRock Inc. bought a new stake in Precigen in the 2nd quarter worth approximately $97,737,000. Bank of America Corp DE bought a new stake in Precigen in the 2nd quarter worth approximately $10,536,000. Wellington Management Group LLP raised its stake in Precigen by 9.2% during the 2nd quarter. Wellington Management Group LLP now owns 555,230 shares of the biotechnology company's stock valued at $3,165,000 after buying an additional 46,796 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in Precigen during the 2nd quarter valued at $2,705,000. Institutional investors own 33.51% of the company's stock.

About Precigen

Precigen, Inc. is a biotechnology company focused on developing gene and cell therapies, including engineered immunotherapies. The company is based in Germantown, Maryland, and its roots include Intrexon, which adopted the Precigen name in 2020. Its approved product, PAPZIMEOS (zopapogene imadenovec-drba), is a gene therapy for adults with recurrent respiratory papillomatosis, a rare condition associated with human papillomavirus types 6 and 11. Precigen is also developing investigational therapies for cancers and other diseases.

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