Nuveen LLC Buys New Stake 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 bought a new position in Precigen, Inc. (NASDAQ:PGEN - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The fund bought 184,868 shares of the biotechnology company's stock, valued at approximately $275,000. Nuveen LLC owned 0.06% of Precigen at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. BNP Paribas Financial Markets bought a new stake in shares of Precigen during the 4th quarter valued at $27,000. Envestnet Asset Management Inc. boosted its holdings in 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 period. Apella Capital LLC bought a new position in Precigen in the 1st quarter worth $40,000. ProShare Advisors LLC boosted its holdings in 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 period. Finally, Headlands Technologies LLC bought a new position in Precigen in the 1st quarter worth $87,000. Institutional investors own 33.51% of the company's stock.

Insider Activity

In other Precigen news, Director Nancy H. Agee acquired 15,360 shares of the company's stock in a transaction dated Tuesday, August 19th. The shares were purchased at an average cost of $3.20 per share, for a total transaction of $49,152.00. Following the completion of the purchase, the director owned 192,196 shares in the company, valued at approximately $615,027.20. This trade represents a 8.69% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders have purchased 41,005 shares of company stock worth $167,651 in the last 90 days. 47.10% of the stock is currently owned by company insiders.

Precigen Stock Down 5.4%

Precigen stock traded down $0.23 during midday trading on Wednesday, reaching $3.91. The stock had a trading volume of 3,428,342 shares, compared to its average volume of 3,941,813. The firm has a market cap of $1.16 billion, a price-to-earnings ratio of -9.35 and a beta of 1.82. The company has a fifty day moving average of $2.58 and a 200 day moving average of $1.88. 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 issued its earnings results on Tuesday, August 12th. The biotechnology company reported ($0.11) EPS for the quarter, topping analysts' consensus estimates of ($0.14) by $0.03. The business had revenue of $0.86 million for the quarter, compared to the consensus estimate of $0.67 million. Precigen had a negative net margin of 2,868.66% and a negative return on equity of 842.83%. Equities research analysts predict that Precigen, Inc. will post -0.32 EPS for the current year.

Wall Street Analyst Weigh In

PGEN has been the subject of several recent analyst reports. Wall Street Zen raised shares of Precigen from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. JPMorgan Chase & Co. upgraded shares of Precigen from an "underweight" rating to a "neutral" rating in a research note on Friday, August 15th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Precigen in a research note on Thursday, May 15th. JMP Securities upped their target price on shares of Precigen from $6.00 to $8.00 and gave the company a "market outperform" rating in a research report on Tuesday, August 19th. Finally, Citigroup restated an "outperform" rating on shares of Precigen in a research report on Tuesday, August 19th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Precigen presently has a consensus rating of "Moderate Buy" and a consensus target price of $8.25.

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.