Insider Buying: Precigen (NASDAQ:PGEN) Director Buys 3,411 Shares

Key Points

• Precigen director Nancy Agee bought 3,411 shares at an average price of $7.23, investing $24,661.53 and increasing her direct holdings by 1.12% to 309,187 shares.
• Precigen shares recently traded at $7.28, near their 12-month high of $7.55, while the company reported quarterly revenue of $54.98 million—up 6,322.7% year over year—and earnings of $0.05 per share.
• Analyst sentiment is broadly positive, with an average “Moderate Buy” rating and a consensus price target of $14.50; institutional investors and hedge funds own 33.51% of the stock.

Precigen, Inc. (NASDAQ:PGEN - Get Free Report) Director Nancy Agee purchased 3,411 shares of Precigen stock in a transaction that occurred on Friday, August 21st. The shares were purchased at an average price of $7.23 per share, for a total transaction of $24,661.53. Following the transaction, the director directly owned 309,187 shares in the company, valued at $2,235,422.01. This represents a 1.12% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Precigen Price Performance

NASDAQ:PGEN traded up $0.11 during mid-day trading on Tuesday, reaching $7.28. The stock had a trading volume of 5,831,975 shares, compared to its average volume of 4,691,108. Precigen, Inc. has a 12 month low of $2.99 and a 12 month high of $7.55. The stock has a market capitalization of $2.60 billion, a PE ratio of -7.00 and a beta of 1.02. The company has a debt-to-equity ratio of 2.15, a current ratio of 4.58 and a quick ratio of 3.89. The stock has a 50-day simple moving average of $5.86 and a two-hundred day simple moving average of $4.67.

Precigen (NASDAQ:PGEN - Get Free Report) last released its earnings results on Tuesday, August 4th. The biotechnology company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.06. The firm had revenue of $54.98 million during the quarter, compared to analysts' expectations of $27.98 million. Precigen had a positive return on equity of 423.75% and a negative net margin of 183.98%.Precigen's revenue was up 6322.7% compared to the same quarter last year. On average, equities analysts anticipate that Precigen, Inc. will post 0.25 earnings per share for the current year.

Institutional Trading of Precigen

Institutional investors and hedge funds have recently bought and sold shares of the stock. AQR Capital Management LLC grew its position in shares of Precigen by 216.9% in the 1st quarter. AQR Capital Management LLC now owns 63,179 shares of the biotechnology company's stock valued at $94,000 after buying an additional 43,245 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Precigen by 12.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 81,610 shares of the biotechnology company's stock valued at $122,000 after acquiring an additional 9,043 shares during the last quarter. Strs Ohio acquired a new stake in Precigen during the 1st quarter valued at approximately $70,000. Geode Capital Management LLC raised its holdings in Precigen by 7.7% during the 2nd quarter. Geode Capital Management LLC now owns 3,749,182 shares of the biotechnology company's stock worth $5,325,000 after purchasing an additional 269,580 shares during the last quarter. Finally, Creative Planning lifted its position in shares of Precigen by 127.8% in the 2nd quarter. Creative Planning now owns 94,291 shares of the biotechnology company's stock worth $134,000 after purchasing an additional 52,901 shares during the period. 33.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PGEN. Wall Street Zen raised Precigen from a "hold" rating to a "strong-buy" rating in a research note on Saturday, August 8th. HC Wainwright boosted their target price on Precigen from $14.00 to $18.00 and gave the stock a "buy" rating in a research note on Wednesday, August 5th. Citigroup reissued an "outperform" rating on shares of Precigen in a report on Thursday, May 14th. Zacks Research raised shares of Precigen from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 5th. Finally, Citizens Jmp upped their price objective on shares of Precigen from $9.00 to $11.00 and gave the stock a "market outperform" rating in a research report on Thursday, May 14th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $14.50.

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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