Iridian Asset Management LLC CT Sells 656,113 Shares of Precigen, Inc. (NASDAQ:PGEN)

Iridian Asset Management LLC CT reduced its stake in shares of Precigen, Inc. (NASDAQ:PGEN - Free Report) by 12.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 largest position. Iridian Asset Management LLC CT owned about 1.56% of Precigen worth $6,833,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently bought and sold shares of the stock. BNP Paribas Financial Markets bought a new stake in Precigen during the 4th quarter worth about $27,000. Envestnet Asset Management Inc. increased its stake in shares of Precigen by 29.0% in the 4th quarter. Envestnet Asset Management Inc. now owns 26,343 shares of the biotechnology company's stock valued at $30,000 after acquiring an additional 5,915 shares during the last quarter. Boothbay Fund Management LLC bought a new stake in shares of Precigen in the 4th quarter valued at about $35,000. Apella Capital LLC bought a new stake in shares of Precigen in the 1st quarter valued at about $40,000. Finally, RPO LLC acquired a new position in shares of Precigen in the 4th quarter valued at approximately $47,000. 33.51% of the stock is currently owned by institutional investors and hedge funds.

Precigen Stock Performance

PGEN traded up $0.01 during trading hours on Thursday, reaching $1.91. The company's stock had a trading volume of 1,831,489 shares, compared to its average volume of 1,466,134. Precigen, Inc. has a 52 week low of $0.65 and a 52 week high of $2.17. The company's 50-day moving average is $1.46 and its 200-day moving average is $1.47. The firm has a market cap of $563.79 million, a PE ratio of -3.41 and a beta of 1.78.

Precigen (NASDAQ:PGEN - Get Free Report) last posted its quarterly earnings results on Wednesday, May 14th. The biotechnology company reported ($0.07) earnings per share for the quarter, beating analysts' consensus estimates of ($0.08) by $0.01. The business had revenue of $1.34 million for the quarter, compared to analysts' expectations of $0.50 million. Precigen had a negative return on equity of 279.20% and a negative net margin of 3,728.87%. Equities analysts anticipate that Precigen, Inc. will post -0.32 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. JMP Securities reiterated a "market outperform" rating and issued a $6.00 price objective on shares of Precigen in a research report on Thursday, June 12th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Precigen in a research report on Thursday, May 15th. HC Wainwright reaffirmed a "buy" rating and set a $6.00 price target on shares of Precigen in a research report on Thursday, March 20th. Finally, Wall Street Zen downgraded Precigen from a "hold" rating to a "sell" rating in a report on Saturday, May 24th.

Precigen Company 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.