MetLife Investment Management LLC Makes New $124,000 Investment in Precigen, Inc. $PGEN

Key Points

• MetLife Investment Management LLC acquired a new stake in Precigen, Inc., purchasing 83,181 shares valued at approximately $124,000.
• Insider trading activity includes Director Nancy H. Agee purchasing 15,000 shares for $69,000, increasing her holdings in the company.
• Precigen has a market capitalization of $1.23 billion, with recent stock performance showing a 12-month low of $0.65 and a high of $5.22.

MetLife Investment Management LLC purchased a new stake in shares of Precigen, Inc. (NASDAQ:PGEN - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 83,181 shares of the biotechnology company's stock, valued at approximately $124,000.

Other large investors have also added to or reduced their stakes in the company. BNP Paribas Financial Markets purchased a new position in Precigen in the 4th quarter worth $27,000. Apella Capital LLC purchased a new position in shares of Precigen during the first quarter valued at approximately $40,000. ProShare Advisors LLC lifted its stake in shares of Precigen by 26.6% in 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 in the last quarter. Headlands Technologies LLC bought a new position in shares of Precigen in the first quarter worth approximately $87,000. Finally, Stifel Financial Corp lifted its position in Precigen by 182.2% during the fourth quarter. Stifel Financial Corp now owns 90,857 shares of the biotechnology company's stock valued at $102,000 after purchasing an additional 58,657 shares during the period. Hedge funds and other institutional investors own 33.51% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Citigroup restated an "outperform" rating on shares of Precigen in a research report on Tuesday, August 19th. HC Wainwright reiterated a "buy" rating and set a $8.50 price target on shares of Precigen in a report on Tuesday, August 19th. JMP Securities upped their price target on shares of Precigen from $6.00 to $8.00 and gave the stock a "market outperform" rating in a research report on Tuesday, August 19th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Precigen in a report on Thursday, May 15th. Finally, Wall Street Zen upgraded shares of Precigen from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $8.25.

Insider Buying and Selling at Precigen

In other Precigen news, Director Nancy H. Agee purchased 15,000 shares of the company's stock in a transaction on Thursday, September 4th. The shares were purchased at an average cost of $4.60 per share, for a total transaction of $69,000.00. Following the completion of the transaction, the director owned 217,841 shares in the company, valued at $1,002,068.60. The trade was a 7.39% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have bought 41,005 shares of company stock worth $167,651 in the last quarter. 47.10% of the stock is owned by insiders.

Precigen Trading Down 8.5%

Shares of Precigen stock traded down $0.35 during mid-day trading on Friday, hitting $3.79. 5,373,889 shares of the stock were exchanged, compared to its average volume of 3,967,530. Precigen, Inc. has a twelve month low of $0.65 and a twelve month high of $5.22. The stock has a market capitalization of $1.13 billion, a price-to-earnings ratio of -9.02 and a beta of 1.82. The company has a 50-day simple moving average of $2.68 and a 200 day simple moving average of $1.91.

Precigen (NASDAQ:PGEN - Get Free Report) last posted its quarterly earnings results on Tuesday, August 12th. The biotechnology company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.03. The firm had revenue of $0.86 million for the quarter, compared to analyst estimates of $0.67 million. Precigen had a negative net margin of 2,868.66% and a negative return on equity of 842.83%. Equities research analysts forecast that Precigen, Inc. will post -0.32 earnings per share for the current fiscal year.

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.