Corient Private Wealth LLC Has $1.80 Million Stake in Precigen, Inc. $PGEN

Key Points

• Corient Private Wealth LLC cut its Precigen stake by 45.9% in the fourth quarter, but still held 431,710 shares worth about $1.8 million at the end of the period.
• Precigen saw mixed insider and institutional activity: several funds added shares, while insiders sold 232,968 shares over the last three months, mainly to cover tax withholding on vested equity awards.
• Analyst sentiment is still cautious overall, with an average Hold rating and a $12.50 target price, even as recent reports included upgraded targets from HC Wainwright and Citizens JMP.

Corient Private Wealth LLC lowered its position in Precigen, Inc. (NASDAQ:PGEN - Free Report) by 45.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 431,710 shares of the biotechnology company's stock after selling 365,861 shares during the period. Corient Private Wealth LLC owned 0.12% of Precigen worth $1,805,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Xponance LLC increased its holdings in Precigen by 21.3% during the 4th quarter. Xponance LLC now owns 14,191 shares of the biotechnology company's stock valued at $59,000 after purchasing an additional 2,496 shares in the last quarter. BNP Paribas Financial Markets raised its position in Precigen by 6.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 51,796 shares of the biotechnology company's stock valued at $170,000 after purchasing an additional 2,993 shares during the last quarter. Composition Wealth LLC raised its position in Precigen by 16.5% in the 4th quarter. Composition Wealth LLC now owns 21,217 shares of the biotechnology company's stock valued at $89,000 after purchasing an additional 3,000 shares during the last quarter. Intech Investment Management LLC boosted its stake in Precigen by 5.2% in the fourth quarter. Intech Investment Management LLC now owns 63,018 shares of the biotechnology company's stock worth $263,000 after purchasing an additional 3,137 shares in the last quarter. Finally, HighTower Advisors LLC boosted its stake in Precigen by 4.2% in the fourth quarter. HighTower Advisors LLC now owns 104,560 shares of the biotechnology company's stock worth $437,000 after purchasing an additional 4,249 shares in the last quarter. 33.51% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Precigen

In other Precigen news, COO Rutul R. Shah sold 42,703 shares of the business's stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $4.36, for a total transaction of $186,185.08. Following the completion of the sale, the chief operating officer directly owned 497,751 shares of the company's stock, valued at approximately $2,170,194.36. The trade was a 7.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Donald P. Lehr sold 29,131 shares of the company's stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $4.36, for a total transaction of $127,011.16. Following the transaction, the insider owned 755,461 shares in the company, valued at approximately $3,293,809.96. The trade was a 3.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 232,968 shares of company stock valued at $1,015,740 in the last three months. Company insiders own 41.40% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Weiss Ratings restated a "sell (d-)" rating on shares of Precigen in a research note on Tuesday, April 21st. Zacks Research upgraded shares of Precigen from a "strong sell" rating to a "hold" rating in a research report on Tuesday, March 10th. HC Wainwright upped their price target on shares of Precigen from $11.00 to $14.00 and gave the stock a "buy" rating in a research report on Thursday, May 28th. Citigroup reissued an "outperform" rating on shares of Precigen in a report on Thursday, May 14th. Finally, Citizens Jmp raised their price objective on shares of Precigen from $9.00 to $11.00 and gave the company a "market outperform" rating in a research report on Thursday, May 14th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Precigen presently has an average rating of "Hold" and an average target price of $12.50.

Precigen Stock Up 1.0%

Shares of PGEN opened at $5.92 on Tuesday. The business's fifty day moving average price is $4.37 and its two-hundred day moving average price is $4.20. The firm has a market capitalization of $2.11 billion, a price-to-earnings ratio of -5.02 and a beta of 1.06. Precigen, Inc. has a 52 week low of $1.39 and a 52 week high of $6.04. The company has a debt-to-equity ratio of 4.62, a quick ratio of 4.12 and a current ratio of 4.82.

Precigen (NASDAQ:PGEN - Get Free Report) last released its earnings results on Wednesday, May 13th. The biotechnology company reported ($0.02) earnings per share for the quarter, topping analysts' consensus estimates of ($0.03) by $0.01. Precigen had a positive return on equity of 717.50% and a negative net margin of 646.99%.The company had revenue of $23.25 million during the quarter, compared to the consensus estimate of $20.81 million. On average, analysts predict that Precigen, Inc. will post -0.02 earnings per share for the current year.

About Precigen

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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