Parkman Healthcare Partners LLC Takes 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 acquired a new position in shares of Precigen, Inc. (NASDAQ:PGEN - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 3,191,343 shares of the biotechnology company's stock, valued at approximately $4,755,000. Parkman Healthcare Partners LLC owned 1.08% of Precigen at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. Adage Capital Partners GP L.L.C. grew its stake in Precigen by 3.8% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 11,276,000 shares of the biotechnology company's stock valued at $16,801,000 after purchasing an additional 410,595 shares during the last quarter. MetLife Investment Management LLC purchased a new stake in Precigen in the first quarter valued at approximately $124,000. Barclays PLC increased its holdings in Precigen by 28.3% in the 4th quarter. Barclays PLC now owns 242,899 shares of the biotechnology company's stock worth $272,000 after buying an additional 53,546 shares during the period. Nuveen LLC purchased a new position in Precigen during the 1st quarter worth approximately $275,000. Finally, Mill Creek Capital Advisors LLC lifted its stake in Precigen by 131.8% during the 1st quarter. Mill Creek Capital Advisors LLC now owns 255,000 shares of the biotechnology company's stock valued at $380,000 after acquiring an additional 145,000 shares during the period. 33.51% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Precigen

In related news, Director Nancy H. Agee purchased 15,000 shares of the business's stock in a transaction that occurred on Thursday, September 4th. The stock was bought at an average price of $4.60 per share, with a total value of $69,000.00. Following the acquisition, 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 this hyperlink. Over the last 90 days, insiders have acquired 41,005 shares of company stock valued at $167,651. 47.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on PGEN shares. Wall Street Zen upgraded shares of Precigen from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. JPMorgan Chase & Co. raised Precigen from an "underweight" rating to a "neutral" rating in a research report on Friday, August 15th. Citigroup reissued an "outperform" rating on shares of Precigen in a report on Tuesday, August 19th. HC Wainwright restated a "buy" rating and issued a $8.50 target price on shares of Precigen in a research note on Tuesday, August 19th. Finally, Cantor Fitzgerald reiterated an "overweight" rating on shares of Precigen in a research report on Thursday, May 15th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Precigen currently has a consensus rating of "Moderate Buy" and a consensus target price of $8.25.

Precigen Stock Performance

Shares of Precigen stock traded up $0.06 on Thursday, hitting $4.14. The company's stock had a trading volume of 3,359,856 shares, compared to its average volume of 3,959,358. The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of -9.86 and a beta of 1.82. Precigen, Inc. has a 1 year low of $0.65 and a 1 year high of $5.22. The firm has a fifty day moving average price of $2.63 and a 200-day moving average price of $1.90.

Precigen (NASDAQ:PGEN - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $0.86 million for the quarter, compared to analyst estimates of $0.67 million. Precigen had a negative return on equity of 842.83% and a negative net margin of 2,868.66%. As a group, analysts forecast that Precigen, Inc. will post -0.32 EPS for the current 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.