Charles Schwab Investment Management Inc. Sells 62,098 Shares of Precigen, Inc. $PGEN

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in Precigen, Inc. by 4.9%, selling 62,098 shares during Q1. The firm now holds 1,216,764 shares, worth approximately $1.81 million.
• Precigen's stock has a current price of $4.51, with a market cap of $1.34 billion, and has experienced a 12-month range between $0.65 and $4.82.
• Several institutional investors increased their holdings in Precigen, with Barclays PLC boosting its position by 28.3% in the last quarter.

Charles Schwab Investment Management Inc. reduced its holdings in shares of Precigen, Inc. (NASDAQ:PGEN - Free Report) by 4.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,216,764 shares of the biotechnology company's stock after selling 62,098 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.41% of Precigen worth $1,813,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the company. Apella Capital LLC purchased a new stake in Precigen in the first quarter worth $40,000. ProShare Advisors LLC increased its position in 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 buying an additional 10,900 shares during the last quarter. Cetera Investment Advisers increased its position in 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 buying an additional 23,250 shares during the last quarter. Cary Street Partners Financial LLC purchased a new stake in Precigen in the fourth quarter worth $98,000. Finally, Bank of America Corp DE increased 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 buying an additional 21,626 shares during the last quarter. 33.51% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Precigen

In other news, Director Nancy H. Agee purchased 10,645 shares of the company's stock in a transaction on Thursday, August 28th. The stock was purchased at an average price of $4.65 per share, with a total value of $49,499.25. Following the completion of the purchase, the director directly owned 202,841 shares in the company, valued at approximately $943,210.65. This trade represents a 5.54% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 47.10% of the stock is currently owned by company insiders.

Precigen Stock Down 3.4%

NASDAQ:PGEN traded down $0.16 during trading hours on Thursday, hitting $4.59. 3,369,219 shares of the company's stock traded hands, compared to its average volume of 3,891,985. The firm has a market cap of $1.37 billion, a P/E ratio of -11.08 and a beta of 1.82. Precigen, Inc. has a 52 week low of $0.65 and a 52 week high of $5.22. The business's fifty day simple moving average is $2.35 and its two-hundred day simple moving average is $1.82.

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 (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.03. Precigen had a negative return on equity of 842.83% and a negative net margin of 2,868.66%.The firm had revenue of $0.86 million during the quarter, compared to analyst estimates of $0.67 million. On average, analysts expect that Precigen, Inc. will post -0.32 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PGEN. Citigroup reissued 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 price target on shares of Precigen in a research report on Tuesday, August 19th. JPMorgan Chase & Co. upgraded Precigen from an "underweight" rating to a "neutral" rating in a research report on Friday, August 15th. JMP Securities lifted their price target on Precigen from $6.00 to $8.00 and gave the company a "market outperform" rating in a research report on Tuesday, August 19th. Finally, Cantor Fitzgerald reiterated an "overweight" rating on shares of Precigen in a research report on Thursday, May 15th. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, Precigen currently has a consensus rating of "Moderate Buy" and a consensus target price of $8.25.

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.