Deutsche Bank AG Takes $1.14 Million Position in Precigen, Inc. $PGEN

Key Points

• Deutsche Bank acquired 200,248 Precigen shares worth approximately $1.14 million in the second quarter, representing a 0.06% stake. Institutional investors collectively own 33.51% of the biotechnology company.
• Precigen insiders sold 991,271 shares worth about $6.21 million over the past three months, including substantial sales by the COO and CFO under pre-arranged Rule 10b5-1 plans.
• Precigen reported quarterly revenue of $54.98 million and earnings of $0.05 per share, exceeding analyst expectations. Analysts maintain a “Moderate Buy” consensus with an average price target of $14.50, compared with the stock’s $6.95 opening price.

Deutsche Bank AG bought a new position in Precigen, Inc. (NASDAQ:PGEN - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 200,248 shares of the biotechnology company's stock, valued at approximately $1,141,000. Deutsche Bank AG owned 0.06% of Precigen as of its most recent SEC filing.

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

Insider Activity

In related news, COO Rutul R. Shah sold 42,924 shares of the stock in a transaction on Monday, June 29th. The shares were sold at an average price of $5.85, for a total transaction of $251,105.40. Following the completion of the transaction, the chief operating officer owned 497,751 shares in the company, valued at approximately $2,911,843.35. This represents a 7.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Harry Jr. Thomasian sold 171,429 shares of the company's stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $5.53, for a total transaction of $948,002.37. Following the sale, the chief financial officer directly owned 354,535 shares in the company, valued at $1,960,578.55. This trade represents 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. In the last three months, insiders sold 991,271 shares of company stock valued at $6,208,620. 41.40% of the stock is owned by company insiders.

Precigen Stock Performance

PGEN stock opened at $6.95 on Monday. The company has a market cap of $2.48 billion, a P/E ratio of -6.68 and a beta of 1.02. Precigen, Inc. has a twelve month low of $2.99 and a twelve month high of $7.72. The company has a quick ratio of 3.89, a current ratio of 4.58 and a debt-to-equity ratio of 2.15. The business has a fifty 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 earnings per share 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 analysts' expectations of $27.98 million. Precigen had a positive return on equity of 423.75% and a negative net margin of 183.98%.Precigen's quarterly revenue was up 6322.7% compared to the same quarter last year. As a group, equities research analysts expect that Precigen, Inc. will post 0.25 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Citigroup reissued an "outperform" rating on shares of Precigen in a report on Thursday, May 14th. HC Wainwright lifted their price target on shares of Precigen from $14.00 to $18.00 and gave the company a "buy" rating in a report on Wednesday, August 5th. Citizens Jmp upped their price objective on shares of Precigen from $9.00 to $11.00 and gave the stock a "market outperform" rating in a research note on Thursday, May 14th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Precigen in a research note on Friday, July 17th. Finally, Wall Street Zen upgraded Precigen from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 8th. 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's stock. According to data from MarketBeat, Precigen presently has an average rating of "Moderate Buy" and a consensus price target 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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