Insider Selling: Precigen (NASDAQ:PGEN) Director Sells 185,000 Shares

Key Points

• Precigen director Jeffrey Kindler sold 185,000 shares at an average price of $7.44, generating $1.38 million. The sale reduced his holdings by 91.54% to 17,100 shares.
• Precigen shares recently traded at $6.95, near their 52-week high of $7.72, 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 generally positive, with a consensus “Moderate Buy” rating and a $14.50 target price, although one analyst maintains a sell rating. Institutional investors own 33.51% of the company.

Precigen, Inc. (NASDAQ:PGEN - Get Free Report) Director Jeffrey Kindler sold 185,000 shares of the company's stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $7.44, for a total transaction of $1,376,400.00. Following the transaction, the director owned 17,100 shares in the company, valued at $127,224. This represents a 91.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Precigen Stock Performance

Shares of NASDAQ PGEN traded down $0.24 during trading on Friday, reaching $6.95. 2,702,916 shares of the company traded hands, compared to its average volume of 6,560,138. The firm has a 50 day simple moving average of $6.05 and a 200-day simple moving average of $4.75. Precigen, Inc. has a 52-week low of $2.99 and a 52-week high of $7.72. The stock has a market capitalization of $2.48 billion, a PE ratio of -6.68 and a beta of 1.02. The company has a quick ratio of 3.89, a current ratio of 4.58 and a debt-to-equity ratio of 2.15.

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PGEN. Zacks Research raised Precigen from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 5th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Precigen in a report on Friday, July 17th. Citigroup reiterated an "outperform" rating on shares of Precigen in a research report on Thursday, May 14th. HC Wainwright increased their target price on Precigen from $14.00 to $18.00 and gave the company a "buy" rating in a report on Wednesday, August 5th. Finally, Wall Street Zen raised Precigen from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 8th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Precigen has an average rating of "Moderate Buy" and a consensus target price of $14.50.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. KBC Group NV purchased a new stake in shares of Precigen in the 1st quarter worth $1,338,000. Alpine Woods Capital Investors LLC purchased a new position in Precigen during the second quarter valued at $1,309,000. Occam Crest Management LP lifted its position in Precigen by 29.6% during the fourth quarter. Occam Crest Management LP now owns 3,501,739 shares of the biotechnology company's stock valued at $14,637,000 after purchasing an additional 799,339 shares in the last quarter. Patient Capital Management LLC bought a new stake in Precigen during the second quarter valued at about $108,511,000. Finally, Arrowstreet Capital Limited Partnership bought a new stake in Precigen during the first quarter valued at about $1,531,000. 33.51% of the stock is currently owned by institutional investors.

Precigen Company Profile

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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