BlackRock Inc. Purchases New Position in Precigen, Inc. $PGEN

Key Points

• BlackRock acquired 17.15 million Precigen shares during the second quarter, worth approximately $97.7 million and representing about 4.81% of the biotechnology company. Institutional investors collectively own 33.51% of PGEN.
• Precigen reported quarterly EPS of $0.05, beating estimates for a $0.01 loss, while revenue reached $54.98 million—up 6,322.7% year over year and well above analysts’ $27.98 million forecast.
• Analyst sentiment is generally positive, with the stock holding a “Moderate Buy” consensus rating and a $14.50 average price target versus its $6.95 opening price. However, insiders sold 991,271 shares worth $6.21 million over the past quarter.

BlackRock Inc. acquired a new position in shares of Precigen, Inc. (NASDAQ:PGEN - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 17,146,921 shares of the biotechnology company's stock, valued at approximately $97,737,000. BlackRock Inc. owned about 4.81% of Precigen at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of PGEN. State of Wyoming acquired a new stake in Precigen in the first quarter worth $27,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Precigen in the 3rd quarter valued at $39,000. Royal Bank of Canada grew its holdings in shares of Precigen by 102.6% in the 1st quarter. Royal Bank of Canada now owns 10,714 shares of the biotechnology company's stock valued at $41,000 after buying an additional 5,426 shares during the period. Russell Investments Group Ltd. bought a new stake in shares of Precigen in the 3rd quarter valued at $41,000. Finally, Mason Investment Advisory Services Inc. bought a new stake in shares of Precigen in the 4th quarter valued at $42,000. Institutional investors and hedge funds own 33.51% of the company's stock.

Precigen Price Performance

Shares of PGEN opened at $6.95 on Friday. The company has a quick ratio of 3.89, a current ratio of 4.58 and a debt-to-equity ratio of 2.15. Precigen, Inc. has a twelve month low of $2.99 and a twelve month high of $7.72. The stock has a market capitalization of $2.48 billion, a P/E ratio of -6.68 and a beta of 1.02. The company has a 50 day moving average of $6.05 and a 200-day moving average of $4.75.

Precigen (NASDAQ:PGEN - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The biotechnology company reported $0.05 EPS for the quarter, topping analysts' consensus estimates of ($0.01) by $0.06. The business had revenue of $54.98 million for the quarter, compared to analyst estimates of $27.98 million. Precigen had a negative net margin of 183.98% and a positive return on equity of 423.75%. The business's quarterly revenue was up 6322.7% on a year-over-year basis. As a group, equities research analysts forecast that Precigen, Inc. will post 0.25 EPS for the current fiscal year.

Insider Buying and Selling at Precigen

In other Precigen news, CEO Helen Sabzevari sold 346,836 shares of the business's stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $5.89, for a total transaction of $2,042,864.04. Following the sale, the chief executive officer directly owned 3,768,872 shares of the company's stock, valued at $22,198,656.08. The trade was a 8.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Rutul R. Shah sold 15,342 shares of the stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $7.50, for a total transaction of $115,065.00. Following the transaction, the chief operating officer owned 468,865 shares of the company's stock, valued at approximately $3,516,487.50. This represents a 3.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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 991,271 shares of company stock valued at $6,208,620 over the last quarter. 41.40% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Zacks Research upgraded Precigen from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 5th. Citigroup restated an "outperform" rating on shares of Precigen in a report on Thursday, May 14th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Precigen in a research report on Friday, July 17th. Wall Street Zen upgraded Precigen from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 8th. Finally, HC Wainwright boosted their price objective on Precigen from $14.00 to $18.00 and gave the company a "buy" rating in a research report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $14.50.

Precigen Profile

Precigen, Inc NASDAQ: PGEN is a biotechnology company focused on the discovery, development and commercialization of genetic medicines. The company leverages proprietary gene and cell therapy platforms to design targeted therapies for oncology, infectious diseases and rare conditions. Precigen's approach combines synthetic biology, immuno-oncology and microbiome engineering to create precision treatments intended to enhance efficacy while minimizing off-target effects.

The centerpiece of Precigen's technology is its OmniCAR platform, which enables the rapid generation of adaptable chimeric antigen receptor (CAR) T-cell products.

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