Precigen, Inc. $PGEN Holdings Increased by Occam Crest Management LP

Key Points

• Occam Crest Management LP increased its stake in Precigen by 29.6% in the fourth quarter, adding 799,339 shares and making PGEN its second-largest holding.
• Several other institutional investors also boosted or initiated positions, and hedge funds and other institutions now own about 33.51% of the company.
• Precigen’s shares were up 7.9% to $4.80, while recent earnings topped estimates; analysts currently have a consensus Hold rating with an average target price of $12.50.

Occam Crest Management LP grew its holdings in Precigen, Inc. (NASDAQ:PGEN - Free Report) by 29.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,501,739 shares of the biotechnology company's stock after purchasing an additional 799,339 shares during the period. Precigen comprises approximately 10.2% of Occam Crest Management LP's holdings, making the stock its 2nd largest holding. Occam Crest Management LP owned approximately 0.99% of Precigen worth $14,637,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Impala Asset Management LLC purchased a new position in Precigen in the fourth quarter valued at about $690,000. Barclays PLC grew its stake in Precigen by 55.7% in the fourth quarter. Barclays PLC now owns 865,378 shares of the biotechnology company's stock valued at $3,617,000 after purchasing an additional 309,522 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in Precigen by 10.3% in the fourth quarter. The Manufacturers Life Insurance Company now owns 56,006 shares of the biotechnology company's stock valued at $234,000 after purchasing an additional 5,222 shares during the last quarter. CANADA LIFE ASSURANCE Co purchased a new position in Precigen in the fourth quarter valued at about $85,000. Finally, Stifel Financial Corp boosted its holdings in Precigen by 8.8% in the fourth quarter. Stifel Financial Corp now owns 82,657 shares of the biotechnology company's stock worth $346,000 after acquiring an additional 6,700 shares in the last quarter. Hedge funds and other institutional investors own 33.51% of the company's stock.

Analysts Set New Price Targets

PGEN has been the subject of several recent analyst reports. Weiss Ratings reissued a "sell (d-)" rating on shares of Precigen in a report on Tuesday, April 21st. Citigroup reissued an "outperform" rating on shares of Precigen in a report on Thursday, May 14th. Wall Street Zen downgraded Precigen from a "buy" rating to a "hold" rating in a report on Sunday, May 31st. HC Wainwright raised their price target on Precigen from $11.00 to $14.00 and gave the stock a "buy" rating in a report on Thursday, May 28th. Finally, Citizens Jmp raised their price target on Precigen from $9.00 to $11.00 and gave the stock a "market outperform" rating in a report on Thursday, May 14th. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $12.50.

Precigen Trading Up 7.9%

Shares of NASDAQ:PGEN opened at $4.80 on Tuesday. Precigen, Inc. has a 12-month low of $1.38 and a 12-month high of $5.47. The company has a market capitalization of $1.71 billion, a PE ratio of -4.07 and a beta of 1.06. The business has a 50 day moving average of $4.13 and a two-hundred day moving average of $4.08. The company has a current ratio of 4.82, a quick ratio of 4.12 and a debt-to-equity ratio of 4.62.

Precigen (NASDAQ:PGEN - Get Free Report) last posted its quarterly earnings data on Wednesday, May 13th. The biotechnology company reported ($0.02) EPS for the quarter, beating analysts' consensus estimates of ($0.03) by $0.01. The business had revenue of $23.25 million during the quarter, compared to analysts' expectations of $20.81 million. Precigen had a positive return on equity of 717.50% and a negative net margin of 646.99%. As a group, analysts forecast that Precigen, Inc. will post -0.02 EPS for the current year.

Insider Activity

In related news, insider Donald P. Lehr sold 29,131 shares of the business's stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $4.36, for a total transaction of $127,011.16. Following the completion of the sale, the insider directly owned 755,461 shares in the company, valued at approximately $3,293,809.96. The trade was a 3.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Helen Sabzevari sold 119,250 shares of the business's stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $4.36, for a total value of $519,930.00. Following the sale, the chief executive officer owned 3,768,872 shares of the company's stock, valued at $16,432,281.92. The trade was a 3.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 5,005,749 shares of company stock valued at $16,765,918 in the last three months. Company insiders own 41.40% of the company's stock.

About Precigen

Precigen, Inc NASDAQ: PGEN is a biotechnology company focused on the discovery, development and commercialization of genetic medicines. The company leverages proprietary gene and cell therapy platforms to design targeted therapies for oncology, infectious diseases and rare conditions. Precigen's approach combines synthetic biology, immuno-oncology and microbiome engineering to create precision treatments intended to enhance efficacy while minimizing off-target effects.

The centerpiece of Precigen's technology is its OmniCAR platform, which enables the rapid generation of adaptable chimeric antigen receptor (CAR) T-cell products.

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