Iridian Asset Management LLC CT Decreases Position in Precigen, Inc. (NASDAQ:PGEN)

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

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Envestnet Asset Management Inc. lifted its stake in Precigen by 29.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 26,343 shares of the biotechnology company's stock worth $30,000 after acquiring an additional 5,915 shares during the period. Invesco Ltd. increased its holdings in Precigen by 14.6% during the fourth 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 lifted its holdings in Precigen by 26.6% during the fourth quarter. ProShare Advisors LLC now owns 51,822 shares of the biotechnology company's stock worth $58,000 after buying an additional 10,900 shares during the period. Wells Fargo & Company MN boosted its position in Precigen by 12.0% during the 4th quarter. Wells Fargo & Company MN now owns 114,558 shares of the biotechnology company's stock valued at $128,000 after acquiring an additional 12,285 shares in the last quarter. Finally, Rhumbline Advisers raised its position in shares of Precigen by 7.3% in the 4th quarter. Rhumbline Advisers now owns 197,134 shares of the biotechnology company's stock worth $221,000 after acquiring an additional 13,338 shares in the last quarter. 33.51% of the stock is owned by institutional investors.

Precigen Stock Performance

Precigen stock traded down $0.08 during midday trading on Friday, hitting $1.83. 1,347,585 shares of the company were exchanged, compared to its average volume of 1,465,662. The firm has a market capitalization of $540.18 million, a PE ratio of -3.27 and a beta of 1.78. Precigen, Inc. has a fifty-two week low of $0.65 and a fifty-two week high of $2.17. The business has a fifty day simple moving average of $1.46 and a two-hundred day simple moving average of $1.47.

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

Wall Street Analyst Weigh In

Several research firms have recently commented on PGEN. Wall Street Zen lowered Precigen from a "hold" rating to a "sell" rating in a research report on Saturday, May 24th. HC Wainwright reissued a "buy" rating and issued a $6.00 price target on shares of Precigen in a research report on Thursday, March 20th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Precigen in a research report on Thursday, May 15th. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $6.00 target price on shares of Precigen in a research report on Thursday, June 12th.

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.