Corient Private Wealth LP Sells 577,406 Shares of Precigen, Inc. $PGEN

Corient Private Wealth LP trimmed its position in Precigen, Inc. (NASDAQ:PGEN - Free Report) by 63.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 333,800 shares of the biotechnology company's stock after selling 577,406 shares during the period. Corient Private Wealth LP owned approximately 0.09% of Precigen worth $1,903,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Precigen in the second quarter valued at about $227,000. Syon Capital LLC acquired a new stake in Precigen during the 2nd quarter worth approximately $86,000. AXQ Capital LP lifted its stake in Precigen by 223.7% in the second quarter. AXQ Capital LP now owns 116,978 shares of the biotechnology company's stock valued at $667,000 after buying an additional 80,837 shares in the last quarter. Wellington Management Group LLP lifted its stake in Precigen by 9.2% in the second quarter. Wellington Management Group LLP now owns 555,230 shares of the biotechnology company's stock valued at $3,165,000 after buying an additional 46,796 shares in the last quarter. Finally, Perennial Investment Advisors LLC acquired a new position in shares of Precigen in the second quarter valued at approximately $68,000. Institutional investors own 33.51% of the company's stock.

Wall Street Analyst Weigh In

PGEN has been the subject of several research reports. Wall Street Zen raised shares of Precigen from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 8th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Precigen in a research note on Friday, July 17th. Zacks Research upgraded Precigen from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 5th. Finally, HC Wainwright lifted their price target on Precigen from $14.00 to $18.00 and gave the company a "buy" rating in a research note on Wednesday, August 5th. One equities research 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. Based on data from MarketBeat, Precigen presently has an average rating of "Moderate Buy" and an average target price of $14.50.

Precigen Stock Down 5.7%

Shares of PGEN stock opened at $7.44 on Thursday. Precigen, Inc. has a 52-week low of $2.99 and a 52-week high of $8.04. The stock has a market cap of $2.65 billion, a price-to-earnings ratio of -7.15 and a beta of 1.02. The firm's 50-day moving average is $6.66 and its 200-day moving average is $5.12. The company has a debt-to-equity ratio of 2.15, a quick ratio of 3.89 and a current ratio of 4.58.

Precigen (NASDAQ:PGEN - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The biotechnology company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.06. The firm had revenue of $54.98 million during the quarter, compared to the consensus estimate of $27.98 million. Precigen had a negative net margin of 183.98% and a positive return on equity of 423.75%. Precigen's revenue for the quarter was up 6322.7% compared to the same quarter last year. Sell-side analysts predict that Precigen, Inc. will post 0.25 EPS for the current year.

Insiders Place Their Bets

In related news, Director Jeffrey Kindler sold 185,000 shares of the company's stock in a transaction on Wednesday, August 26th. The stock was 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. This represents a 91.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Helen Sabzevari sold 346,836 shares of the business's stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $5.89, for a total value of $2,042,864.04. Following the transaction, the chief executive officer directly owned 3,768,872 shares of the company's stock, valued at approximately $22,198,656.08. The trade was a 8.43% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 991,271 shares of company stock worth $6,208,620 over the last 90 days. Corporate insiders own 41.40% of the company's stock.

About Precigen

Precigen, Inc NASDAQ: PGEN is a biotechnology company focused on developing gene and cell therapies for cancer and other serious diseases. The company uses its synthetic biology platforms to engineer targeted medicines designed to improve treatment effectiveness, durability and safety.

Precigen's technology portfolio includes its UltraCAR-T platform for developing next-generation CAR-T cell therapies, the AdenoVerse platform for gene delivery and immunotherapy applications, and ActoBiotics technology for the localized delivery of therapeutic proteins.

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