Precigen, Inc. $PGEN Shares Bought by Adage Capital Partners GP L.L.C.

Key Points

• Adage Capital Partners GP L.L.C. increased its stake in Precigen, Inc. by 3.8%, now owning approximately 3.82% of the company, valued at about $16.8 million.
• Insider trading activity includes Director Nancy H. Agee purchasing 15,360 shares, increasing her ownership position by 8.69% to 192,196 shares valued at over $615,000.
• Precigen stock has a consensus rating of "Moderate Buy" with a price target of $8.25 according to analyst recommendations, despite shares recently trading down 4.4%.

Adage Capital Partners GP L.L.C. grew its position in shares of Precigen, Inc. (NASDAQ:PGEN - Free Report) by 3.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,276,000 shares of the biotechnology company's stock after purchasing an additional 410,595 shares during the quarter. Adage Capital Partners GP L.L.C. owned about 3.82% of Precigen worth $16,801,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Northern Trust Corp lifted its holdings in Precigen by 11.6% during the fourth quarter. Northern Trust Corp now owns 1,168,689 shares of the biotechnology company's stock worth $1,309,000 after acquiring an additional 121,700 shares during the period. Cetera Investment Advisers boosted its holdings in Precigen by 8.9% in the 4th quarter. Cetera Investment Advisers now owns 283,562 shares of the biotechnology company's stock valued at $318,000 after purchasing an additional 23,250 shares during the period. Mill Creek Capital Advisors LLC boosted its holdings in Precigen by 131.8% in the 1st quarter. Mill Creek Capital Advisors LLC now owns 255,000 shares of the biotechnology company's stock valued at $380,000 after purchasing an additional 145,000 shares during the period. Barclays PLC grew its position in Precigen by 28.3% in the fourth quarter. Barclays PLC now owns 242,899 shares of the biotechnology company's stock worth $272,000 after acquiring an additional 53,546 shares in the last quarter. Finally, Bank of America Corp DE grew its position in 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 in the last quarter. Institutional investors own 33.51% of the company's stock.

Precigen Stock Down 4.2%

Shares of NASDAQ PGEN traded down $0.18 during mid-day trading on Wednesday, reaching $3.96. 4,177,249 shares of the company were exchanged, compared to its average volume of 3,947,255. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of -9.39 and a beta of 1.82. Precigen, Inc. has a 1 year low of $0.65 and a 1 year high of $5.22. The firm has a 50-day moving average of $2.58 and a 200 day moving average of $1.88.

Precigen (NASDAQ:PGEN - Get Free Report) last issued its quarterly earnings results on Tuesday, August 12th. The biotechnology company reported ($0.11) earnings per share 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 analyst estimates 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, equities analysts forecast that Precigen, Inc. will post -0.32 earnings per share for the current year.

Analyst Ratings Changes

PGEN has been the subject of several recent research reports. Cantor Fitzgerald reissued an "overweight" rating on shares of Precigen in a research note on Thursday, May 15th. Wall Street Zen upgraded shares of Precigen from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Citigroup reiterated an "outperform" rating on shares of Precigen in a research report on Tuesday, August 19th. HC Wainwright reiterated a "buy" rating and issued a $8.50 target price on shares of Precigen in a research note on Tuesday, August 19th. Finally, 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. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, Precigen currently has a consensus rating of "Moderate Buy" and a consensus price target of $8.25.

Insider Activity at Precigen

In related news, Director Nancy H. Agee bought 15,000 shares of the business's stock in a transaction dated Thursday, September 4th. The stock was acquired at an average price of $4.60 per share, with a total value of $69,000.00. Following the completion of the purchase, the director directly owned 217,841 shares of the company's stock, valued at approximately $1,002,068.60. This trade represents a 7.39% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have bought a total of 41,005 shares of company stock worth $167,651 over the last three months. 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.