Precigen (NASDAQ:PGEN) COO Sells 34,658 Shares of Stock

Key Points

• Precigen COO Rutul Shah sold 34,658 shares at an average price of $7.50, totaling $259,935. The sale was conducted under a Rule 10b5-1 plan to cover tax withholding, leaving him with 465,012 shares.
• Precigen shares recently traded at $7.28, up 1.5%, near their 52-week high of $7.55. The company reported quarterly revenue of $54.98 million, up sharply year over year, and exceeded analysts’ EPS expectations.
• Analyst sentiment is generally positive, with a consensus rating of “Moderate Buy” and an average price target of $14.50, although one analyst maintains a sell rating.

Precigen, Inc. (NASDAQ:PGEN - Get Free Report) COO Rutul Shah sold 34,658 shares of the stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $7.50, for a total transaction of $259,935.00. Following the completion of the sale, the chief operating officer directly owned 465,012 shares in the company, valued at $3,487,590. This trade represents a 6.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Precigen Trading Up 1.5%

Shares of NASDAQ:PGEN traded up $0.11 during trading hours on Tuesday, hitting $7.28. 5,831,975 shares of the company's stock traded hands, compared to its average volume of 4,691,108. Precigen, Inc. has a 1 year low of $2.99 and a 1 year high of $7.55. The business has a fifty day moving average price of $5.86 and a 200-day moving average price of $4.67. The firm has a market capitalization of $2.60 billion, a P/E 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.

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

Hedge Funds Weigh In On Precigen

Hedge funds and other institutional investors have recently made changes to their positions in the company. AQR Capital Management LLC lifted its stake in Precigen by 216.9% in the first quarter. AQR Capital Management LLC now owns 63,179 shares of the biotechnology company's stock worth $94,000 after acquiring an additional 43,245 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Precigen by 12.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 81,610 shares of the biotechnology company's stock valued at $122,000 after purchasing an additional 9,043 shares during the period. Strs Ohio bought a new stake in shares of Precigen in the 1st quarter valued at about $70,000. Geode Capital Management LLC raised its holdings in shares of Precigen by 7.7% in the 2nd quarter. Geode Capital Management LLC now owns 3,749,182 shares of the biotechnology company's stock valued at $5,325,000 after purchasing an additional 269,580 shares in 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. Institutional investors own 33.51% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Weiss Ratings reiterated a "sell (d-)" rating on shares of Precigen in a research note on Friday, July 17th. HC Wainwright upped their price target on shares of Precigen from $14.00 to $18.00 and gave the stock a "buy" rating in a report on Wednesday, August 5th. Zacks Research raised shares of Precigen from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 5th. Citizens Jmp lifted their price objective on shares of Precigen from $9.00 to $11.00 and gave the company a "market outperform" rating in a report on Thursday, May 14th. Finally, Wall Street Zen raised shares of Precigen from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Precigen presently has an average rating of "Moderate Buy" and a consensus price target of $14.50.

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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