Parkman Healthcare Partners LLC Takes $4.76 Million Position in Precigen, Inc. $PGEN

Key Points

• Parkman Healthcare Partners LLC made a new investment of approximately $4.76 million in Precigen, Inc., acquiring 3,191,343 shares, which amounts to 1.08% of the company.
• Precigen has recently shown positive earnings results, reporting an EPS of ($0.11), surpassing analysts' expectations.
• Several institutional investors, including Envestnet Asset Management and Bank of America, have increased their stakes in Precigen, indicating ongoing interest in the company.

Parkman Healthcare Partners LLC bought a new stake in Precigen, Inc. (NASDAQ:PGEN - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 3,191,343 shares of the biotechnology company's stock, valued at approximately $4,755,000. Parkman Healthcare Partners LLC owned about 1.08% of Precigen as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Barclays PLC raised its position in Precigen by 28.3% in the 4th quarter. Barclays PLC now owns 242,899 shares of the biotechnology company's stock valued at $272,000 after buying an additional 53,546 shares during the last quarter. Mill Creek Capital Advisors LLC raised its position in Precigen by 131.8% in the 1st quarter. Mill Creek Capital Advisors LLC now owns 255,000 shares of the biotechnology company's stock valued at $380,000 after buying an additional 145,000 shares during the last quarter. Wells Fargo & Company MN raised its position in Precigen by 12.0% in the 4th quarter. Wells Fargo & Company MN now owns 114,558 shares of the biotechnology company's stock valued at $128,000 after buying an additional 12,285 shares during the last quarter. ProShare Advisors LLC raised its position in Precigen by 26.6% in the 4th quarter. ProShare Advisors LLC now owns 51,822 shares of the biotechnology company's stock valued at $58,000 after buying an additional 10,900 shares during the last quarter. Finally, Bank of America Corp DE boosted its position in Precigen by 11.6% during the fourth quarter. Bank of America Corp DE now owns 207,300 shares of the biotechnology company's stock valued at $232,000 after purchasing an additional 21,626 shares during the last quarter. Institutional investors and hedge funds own 33.51% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on PGEN shares. HC Wainwright restated a "buy" rating and issued a $8.50 price target on shares of Precigen in a research note on Tuesday, August 19th. Wall Street Zen upgraded Precigen from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. JMP Securities raised their price target on Precigen from $6.00 to $8.00 and gave the company a "market outperform" rating in a research note on Tuesday, August 19th. Citigroup restated an "outperform" rating on shares of Precigen in a research note on Tuesday, August 19th. Finally, Cantor Fitzgerald restated an "overweight" rating on shares of Precigen in a research note on Thursday, May 15th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $8.25.

Precigen Trading Down 0.7%

Shares of PGEN traded down $0.03 during mid-day trading on Tuesday, reaching $4.13. The company's stock had a trading volume of 5,737,536 shares, compared to its average volume of 18,353,620. Precigen, Inc. has a 1-year low of $0.65 and a 1-year high of $5.22. The stock has a market cap of $1.23 billion, a P/E ratio of -9.83 and a beta of 1.82. The business has a 50-day simple moving average of $2.58 and a two-hundred day simple moving average of $1.88.

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

Insiders Place Their Bets

In other news, Director Nancy H. Agee bought 15,000 shares of the stock in a transaction that occurred on Thursday, September 4th. The stock was acquired at an average price of $4.60 per share, with a total value of $69,000.00. Following the completion of the purchase, the director directly owned 217,841 shares of the company's stock, valued at approximately $1,002,068.60. This represents a 7.39% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Over the last 90 days, insiders have purchased 41,005 shares of company stock worth $167,651. Insiders own 47.10% of the company's stock.

About Precigen

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.