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

Iridian Asset Management LLC CT trimmed its position in Precigen, Inc. (NASDAQ:PGEN - Free Report) by 12.5% during the first quarter, according to the company in its most recent 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 holdings, making the stock its 16th biggest holding. Iridian Asset Management LLC CT owned 1.56% of Precigen worth $6,833,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Apella Capital LLC bought a new stake in shares of Precigen in the first quarter valued at about $40,000. ProShare Advisors LLC raised its stake in Precigen by 26.6% in the 4th quarter. ProShare Advisors LLC now owns 51,822 shares of the biotechnology company's stock worth $58,000 after purchasing an additional 10,900 shares in the last quarter. Cetera Investment Advisers boosted its holdings in Precigen by 8.9% in the 4th quarter. Cetera Investment Advisers now owns 283,562 shares of the biotechnology company's stock valued at $318,000 after purchasing an additional 23,250 shares during the period. Cary Street Partners Financial LLC acquired a new position in shares of Precigen during the 4th quarter worth approximately $98,000. Finally, Bank of America Corp DE raised its position in shares of Precigen by 11.6% in the fourth quarter. Bank of America Corp DE now owns 207,300 shares of the biotechnology company's stock valued at $232,000 after buying an additional 21,626 shares in the last quarter. Institutional investors own 33.51% of the company's stock.

Precigen Price Performance

Shares of Precigen stock traded up $0.20 during trading on Wednesday, reaching $1.90. 9,422,500 shares of the company's stock were exchanged, compared to its average volume of 1,460,495. Precigen, Inc. has a 1-year low of $0.65 and a 1-year high of $2.17. The firm's 50-day moving average price is $1.44 and its 200 day moving average price is $1.46.

Precigen (NASDAQ:PGEN - Get Free Report) last issued 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. Precigen had a negative return on equity of 279.20% and a negative net margin of 3,728.87%. The firm had revenue of $1.34 million during the quarter, compared to the consensus estimate of $0.50 million. On average, sell-side analysts expect that Precigen, Inc. will post -0.32 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.