Corient Private Wealth LP Makes New Investment in Precigen, Inc. $PGEN

Key Points

• Corient Private Wealth LP bought 334,802 Precigen shares in the second quarter, valued at approximately $1.9 million, joining other institutional investors that collectively own 33.51% of the company.
• Precigen insiders sold nearly 991,271 shares worth $6.2 million over the past three months, including substantial sales by a director and the CFO.
• Analyst sentiment is generally positive, with a consensus “Moderate Buy” rating and an average price target of $14.50. The company also reported quarterly revenue of $54.98 million, sharply above the year-ago period and exceeding estimates.

Corient Private Wealth LP purchased a new position in Precigen, Inc. (NASDAQ:PGEN - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 334,802 shares of the biotechnology company's stock, valued at approximately $1,908,000. Corient Private Wealth LP owned approximately 0.09% of Precigen as of its most recent SEC filing.

A number of other large investors have also modified their holdings of PGEN. State of Wyoming purchased a new position in Precigen in the first quarter worth approximately $27,000. Mason Investment Advisory Services Inc. purchased a new position in Precigen in the fourth quarter valued at approximately $42,000. Abel Hall LLC purchased a new stake in shares of Precigen during the 4th quarter worth approximately $44,000. Royal Bank of Canada lifted its position in shares of Precigen by 102.6% during the 1st quarter. Royal Bank of Canada now owns 10,714 shares of the biotechnology company's stock worth $41,000 after buying an additional 5,426 shares during the last quarter. Finally, NewEdge Advisors LLC acquired a new position in shares of Precigen in the 4th quarter valued at $45,000. Hedge funds and other institutional investors own 33.51% of the company's stock.

Insider Buying and Selling

In other news, Director Jeffrey B. Kindler sold 185,000 shares of Precigen stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $7.44, for a total transaction of $1,376,400.00. Following the completion of the sale, the director directly owned 17,100 shares in the company, valued at $127,224. The trade was a 91.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Harry Thomasian, Jr. sold 171,429 shares of the firm's stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $5.53, for a total value of $948,002.37. Following the completion of the sale, the chief financial officer directly owned 354,535 shares in the company, valued at approximately $1,960,578.55. The trade was a 32.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 991,271 shares of company stock worth $6,208,620. 41.40% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PGEN. Citigroup reaffirmed an "outperform" rating on shares of Precigen in a research report on Thursday, May 14th. Citizens Jmp upped their price objective on shares of Precigen from $9.00 to $11.00 and gave the company a "market outperform" rating in a research note on Thursday, May 14th. Zacks Research raised Precigen from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 5th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Precigen in a research report on Friday, July 17th. Finally, Wall Street Zen raised Precigen from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 8th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $14.50.

Precigen Trading Up 1.9%

NASDAQ:PGEN opened at $7.14 on Friday. The firm has a market cap of $2.55 billion, a P/E ratio of -6.87 and a beta of 1.02. The company has a current ratio of 4.58, a quick ratio of 3.89 and a debt-to-equity ratio of 2.15. The stock's 50 day simple moving average is $6.18 and its 200-day simple moving average is $4.81. Precigen, Inc. has a 12-month low of $2.99 and a 12-month high of $7.72.

Precigen (NASDAQ:PGEN - Get Free Report) last released its earnings results on Tuesday, August 4th. The biotechnology company reported $0.05 EPS for the quarter, beating analysts' consensus estimates of ($0.01) by $0.06. The company had revenue of $54.98 million during the quarter, compared to the consensus estimate of $27.98 million. Precigen had a positive return on equity of 423.75% and a negative net margin of 183.98%.The company's revenue for the quarter was up 6322.7% on a year-over-year basis. Equities analysts anticipate that Precigen, Inc. will post 0.25 EPS for the current year.

Precigen Company 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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