Nuveen LLC Takes $275,000 Position in Precigen, Inc. $PGEN

Key Points

• Nuveen LLC acquired 184,868 shares of Precigen, Inc., valued at approximately $275,000, increasing the firm’s stake to about 0.06% of the company.
• Director Nancy H. Agee purchased 15,000 shares of Precigen at an average price of $4.60 per share, bringing her total ownership to approximately $1 million.
• Analysts have a consensus rating of Moderate Buy for Precigen, with most recent target prices ranging from $6.00 to $8.50.

Nuveen LLC purchased a new position in Precigen, Inc. (NASDAQ:PGEN - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 184,868 shares of the biotechnology company's stock, valued at approximately $275,000. Nuveen LLC owned about 0.06% of Precigen as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Envestnet Asset Management Inc. grew its stake in shares of Precigen by 29.0% in the 4th quarter. Envestnet Asset Management Inc. now owns 26,343 shares of the biotechnology company's stock worth $30,000 after buying an additional 5,915 shares during the last quarter. ProShare Advisors LLC grew its stake in shares of Precigen by 26.6% in the 4th quarter. ProShare Advisors LLC now owns 51,822 shares of the biotechnology company's stock worth $58,000 after buying an additional 10,900 shares during the last quarter. Wells Fargo & Company MN grew its stake in shares of Precigen by 12.0% in the 4th quarter. Wells Fargo & Company MN now owns 114,558 shares of the biotechnology company's stock worth $128,000 after buying an additional 12,285 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Precigen by 11.6% in the 4th quarter. Bank of America Corp DE now owns 207,300 shares of the biotechnology company's stock worth $232,000 after buying an additional 21,626 shares during the last quarter. Finally, Cetera Investment Advisers grew its stake in shares of Precigen by 8.9% in the 4th quarter. Cetera Investment Advisers now owns 283,562 shares of the biotechnology company's stock worth $318,000 after buying an additional 23,250 shares during the last quarter. Hedge funds and other institutional investors own 33.51% of the company's stock.

Analysts Set New Price Targets

PGEN has been the topic of several recent research reports. JMP Securities upped their price target on Precigen from $6.00 to $8.00 and gave the stock a "market outperform" rating in a research note on Tuesday, August 19th. JPMorgan Chase & Co. upgraded Precigen from an "underweight" rating to a "neutral" rating in a research note on Friday, August 15th. Citigroup reiterated an "outperform" rating on shares of Precigen in a research note on Tuesday, August 19th. Wall Street Zen raised Precigen from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Finally, HC Wainwright reissued a "buy" rating and set a $8.50 price target on shares of Precigen in a report on Tuesday, August 19th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Precigen has a consensus rating of "Moderate Buy" and an average price target of $8.25.

Precigen Trading Up 1.5%

Precigen stock traded up $0.06 during trading on Thursday, reaching $4.14. The company had a trading volume of 3,363,547 shares, compared to its average volume of 18,628,924. The firm's 50-day simple moving average is $2.68 and its 200 day simple moving average is $1.91. The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of -9.86 and a beta of 1.82. Precigen, Inc. has a 52 week low of $0.65 and a 52 week high of $5.22.

Precigen (NASDAQ:PGEN - Get Free Report) last posted its quarterly earnings results on Tuesday, August 12th. The biotechnology company reported ($0.11) EPS for the quarter, beating analysts' consensus estimates of ($0.14) by $0.03. The business had revenue of $0.86 million for the quarter, compared to analysts' expectations of $0.67 million. Precigen had a negative return on equity of 842.83% and a negative net margin of 2,868.66%. On average, analysts predict that Precigen, Inc. will post -0.32 earnings per share for the current year.

Insider Buying and Selling at Precigen

In other news, Director Nancy H. Agee acquired 15,360 shares of the business's stock in a transaction dated Tuesday, August 19th. The stock was purchased at an average price of $3.20 per share, for a total transaction of $49,152.00. Following the completion of the transaction, the director directly owned 192,196 shares in the company, valued at approximately $615,027.20. This trade represents a 8.69% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders bought a total of 41,005 shares of company stock worth $167,651 in the last ninety days. Company insiders own 47.10% of the company's stock.

Precigen Company Profile

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.