Iridian Asset Management LLC CT Reduces Stake in Precigen, Inc. (NASDAQ:PGEN)

Iridian Asset Management LLC CT lowered its stake in shares of Precigen, Inc. (NASDAQ:PGEN - Free Report) by 12.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,585,809 shares of the biotechnology company's stock after selling 656,113 shares during the period. Precigen accounts for 2.1% of Iridian Asset Management LLC CT's investment portfolio, making the stock its 16th largest position. Iridian Asset Management LLC CT owned 1.56% of Precigen worth $6,833,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. raised its position in Precigen by 29.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 26,343 shares of the biotechnology company's stock valued at $30,000 after purchasing an additional 5,915 shares during the period. Invesco Ltd. raised its holdings in shares of Precigen by 14.6% in the 4th quarter. Invesco Ltd. now owns 47,307 shares of the biotechnology company's stock valued at $53,000 after buying an additional 6,040 shares during the period. ProShare Advisors LLC raised its holdings in shares of Precigen by 26.6% in the 4th quarter. ProShare Advisors LLC now owns 51,822 shares of the biotechnology company's stock valued at $58,000 after buying an additional 10,900 shares during the period. Wells Fargo & Company MN raised its holdings in shares of Precigen by 12.0% in the 4th quarter. Wells Fargo & Company MN now owns 114,558 shares of the biotechnology company's stock valued at $128,000 after buying an additional 12,285 shares during the period. Finally, Rhumbline Advisers raised its holdings in shares of Precigen by 7.3% in the 4th quarter. Rhumbline Advisers now owns 197,134 shares of the biotechnology company's stock valued at $221,000 after buying an additional 13,338 shares during the period. Institutional investors and hedge funds own 33.51% of the company's stock.

Precigen Stock Down 4.2%

NASDAQ PGEN traded down $0.08 during trading hours on Friday, hitting $1.83. 1,347,585 shares of the company were exchanged, compared to its average volume of 1,467,107. The company has a 50 day moving average of $1.46 and a two-hundred day moving average of $1.48. Precigen, Inc. has a 52-week low of $0.65 and a 52-week high of $2.17. The firm has a market cap of $540.18 million, a price-to-earnings ratio of -3.27 and a beta of 1.78.

Precigen (NASDAQ:PGEN - Get Free Report) last issued its quarterly earnings results on Wednesday, May 14th. The biotechnology company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.01. Precigen had a negative return on equity of 279.20% and a negative net margin of 3,728.87%. The company had revenue of $1.34 million for the quarter, compared to the consensus estimate of $0.50 million. On average, equities research analysts predict that Precigen, Inc. will post -0.32 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. HC Wainwright reiterated a "buy" rating and issued a $6.00 price objective on shares of Precigen in a report on Thursday, March 20th. JMP Securities reiterated a "market outperform" rating and issued a $6.00 price objective on shares of Precigen in a report on Thursday, June 12th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Precigen in a report on Thursday, May 15th. Finally, Wall Street Zen upgraded Precigen from a "sell" rating to a "hold" rating in a report on Saturday.

Precigen Profile

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.