Precigen, Inc. $PGEN Shares Purchased by Mill Creek Capital Advisors LLC

Key Points

• Mill Creek Capital Advisors LLC increased its stake in Precigen, Inc. by 131.8% in Q1, owning 255,000 shares worth $380,000 following the purchase of 145,000 additional shares.
• Analysts have a consensus target price of $6.00 for Precigen, with ratings ranging from "buy" to "hold" from various brokerages.
• Precigen's shares have increased by 58.9%, opening at $2.94, with a market capitalization of $876.04 million as of its last quarterly earnings report.

Mill Creek Capital Advisors LLC increased its position in shares of Precigen, Inc. (NASDAQ:PGEN - Free Report) by 131.8% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 255,000 shares of the biotechnology company's stock after purchasing an additional 145,000 shares during the quarter. Mill Creek Capital Advisors LLC owned 0.09% of Precigen worth $380,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC raised its holdings in shares of Precigen by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 3,299,851 shares of the biotechnology company's stock worth $3,696,000 after acquiring an additional 53,343 shares during the last quarter. Wells Fargo & Company MN raised its holdings in shares of Precigen by 12.0% in the fourth quarter. Wells Fargo & Company MN now owns 114,558 shares of the biotechnology company's stock worth $128,000 after acquiring an additional 12,285 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of 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 last quarter. Invesco Ltd. raised its holdings in shares of Precigen by 14.6% in the fourth quarter. Invesco Ltd. now owns 47,307 shares of the biotechnology company's stock worth $53,000 after acquiring an additional 6,040 shares during the last quarter. Finally, Barclays PLC raised its holdings in shares of Precigen by 28.3% in the fourth quarter. Barclays PLC now owns 242,899 shares of the biotechnology company's stock worth $272,000 after acquiring an additional 53,546 shares during the last quarter. 33.51% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. HC Wainwright reissued a "buy" rating and issued a $8.50 price target on shares of Precigen in a report on Tuesday. JPMorgan Chase & Co. raised Precigen from an "underweight" rating to a "neutral" rating in a report on Friday, August 15th. JMP Securities boosted their price target on Precigen from $6.00 to $8.00 and gave the stock a "market outperform" rating in a report on Tuesday. Cantor Fitzgerald reiterated an "overweight" rating on shares of Precigen in a research note on Thursday, May 15th. Finally, Wall Street Zen upgraded Precigen from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $8.25.

Precigen Stock Performance

Precigen stock traded up $0.54 during trading on Friday, hitting $4.18. The company's stock had a trading volume of 24,184,755 shares, compared to its average volume of 14,296,194. The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of -9.95 and a beta of 1.87. The stock's fifty day moving average is $1.87 and its 200 day moving average is $1.67. Precigen, Inc. has a 1-year low of $0.65 and a 1-year high of $4.21.

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

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.