Inspire Investing LLC Makes New Investment in Precigen, Inc. $PGEN

Key Points

• Inspire Investing LLC recently acquired 235,112 shares of Precigen, Inc. ($PGEN), valued at approximately $350,000, indicating a growing interest from institutional investors.
• Precigen's stock has seen fluctuations, with a 1-year high of $5.22 and a current trading value around $3.79, reflecting an 8.5% decrease in recent trading.
• Analysts have a generally positive outlook on Precigen, with four analysts issuing a Buy rating and a consensus price target of $8.25 for the stock.

Inspire Investing LLC bought a new position in shares of Precigen, Inc. (NASDAQ:PGEN - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 235,112 shares of the biotechnology company's stock, valued at approximately $350,000. Inspire Investing LLC owned about 0.08% of Precigen at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Precigen by 12.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 81,610 shares of the biotechnology company's stock worth $122,000 after purchasing an additional 9,043 shares during the last quarter. ProShare Advisors LLC increased its stake in shares of Precigen by 26.6% in the fourth quarter. ProShare Advisors LLC now owns 51,822 shares of the biotechnology company's stock worth $58,000 after acquiring an additional 10,900 shares during the period. Bank of America Corp DE increased its stake in shares of Precigen by 11.6% in the fourth quarter. Bank of America Corp DE now owns 207,300 shares of the biotechnology company's stock worth $232,000 after acquiring an additional 21,626 shares during the period. Cetera Investment Advisers increased its stake in shares of Precigen by 8.9% in the fourth quarter. Cetera Investment Advisers now owns 283,562 shares of the biotechnology company's stock worth $318,000 after acquiring an additional 23,250 shares during the period. Finally, Deutsche Bank AG increased its stake in shares of Precigen by 35.3% in the first quarter. Deutsche Bank AG now owns 91,031 shares of the biotechnology company's stock worth $136,000 after acquiring an additional 23,729 shares during the period. Hedge funds and other institutional investors own 33.51% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. HC Wainwright reiterated a "buy" rating and issued a $8.50 price objective on shares of Precigen in a research note on Tuesday, August 19th. JPMorgan Chase & Co. upgraded shares of Precigen from an "underweight" rating to a "neutral" rating in a research note on Friday, August 15th. JMP Securities increased their price objective on shares of Precigen from $6.00 to $8.00 and gave the stock a "market outperform" rating in a research note on Tuesday, August 19th. Wall Street Zen upgraded shares of Precigen from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. 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 assigned a Hold rating to the stock. Based on data from MarketBeat, Precigen has a consensus rating of "Moderate Buy" and a consensus price target of $8.25.

Precigen Trading Down 1.3%

PGEN stock traded down $0.05 during trading on Friday, reaching $3.75. 13,340,631 shares of the stock were exchanged, compared to its average volume of 8,079,519. The business has a 50 day moving average price of $2.93 and a 200-day moving average price of $2.00. Precigen, Inc. has a 1 year low of $0.65 and a 1 year high of $5.22. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of -8.93 and a beta of 1.82.

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 company 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%. On average, research analysts anticipate that Precigen, Inc. will post -0.32 EPS for the current year.

Insider Activity at Precigen

In other Precigen news, Director Randal J. Kirk sold 3,596,892 shares of the business's stock in a transaction that occurred on Friday, September 19th. The shares were sold at an average price of $3.68, for a total transaction of $13,236,562.56. Following the completion of the transaction, the director owned 8,520,537 shares in the company, valued at $31,355,576.16. The trade was a 29.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Nancy H. Agee purchased 15,000 shares of the stock in a transaction on Thursday, September 4th. The shares were purchased at an average price of $4.60 per share, with a total value of $69,000.00. Following the acquisition, the director directly owned 217,841 shares in the company, valued at $1,002,068.60. This represents a 7.39% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 41,005 shares of company stock worth $167,651. 47.10% of the stock is owned by insiders.

About Precigen

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.