Rutul Shah Sells 15,342 Shares of Precigen (NASDAQ:PGEN) Stock

Key Points

• Precigen COO Rutul Shah sold 15,342 shares at an average price of $7.50, generating $115,065. The Rule 10b5-1 sale covered tax-withholding obligations, reducing his holdings by 3.17% to 468,865 shares.
• Precigen shares closed at $7.28, near the 52-week high of $7.55, with a $2.60 billion market capitalization. The stock trades above its 50-day and 200-day moving averages.
• The company exceeded quarterly expectations, reporting $0.05 in EPS versus a $0.01 loss estimate and $54.98 million in revenue, up 6,322.7% year over year. Analysts maintain a “Moderate Buy” consensus with an average price target of $14.50.

Precigen, Inc. (NASDAQ:PGEN - Get Free Report) COO Rutul Shah sold 15,342 shares of the stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $7.50, for a total transaction of $115,065.00. Following the completion of the sale, the chief operating officer owned 468,865 shares of the company's stock, valued at approximately $3,516,487.50. The trade was a 3.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 Stock Performance

PGEN traded up $0.11 on Tuesday, hitting $7.28. 5,831,975 shares of the stock traded hands, compared to its average volume of 4,691,108. The business has a fifty day moving average price of $5.86 and a two-hundred day moving average price of $4.67. The company has a current ratio of 4.58, a quick ratio of 3.89 and a debt-to-equity ratio of 2.15. The firm has a market capitalization of $2.60 billion, a PE ratio of -7.00 and a beta of 1.02. Precigen, Inc. has a 52 week low of $2.99 and a 52 week high of $7.55.

Precigen (NASDAQ:PGEN - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $54.98 million for the quarter, compared to analyst estimates of $27.98 million. Precigen had a positive return on equity of 423.75% and a negative net margin of 183.98%.The company's revenue was up 6322.7% compared to the same quarter last year. On average, research analysts predict that Precigen, Inc. will post 0.25 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on PGEN shares. Weiss Ratings restated a "sell (d-)" rating on shares of Precigen in a research note on Friday, July 17th. HC Wainwright upped their target price on shares of Precigen from $14.00 to $18.00 and gave the company a "buy" rating in a research note on Wednesday, August 5th. Citizens Jmp increased their price target 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. Wall Street Zen upgraded shares of Precigen from a "hold" rating to a "strong-buy" rating in a research note on Saturday, August 8th. Finally, Citigroup reiterated an "outperform" rating on shares of Precigen in a research note on Thursday, May 14th. One 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 stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $14.50.

Institutional Investors Weigh In On Precigen

Hedge funds and other institutional investors have recently bought and sold shares of the business. State of Wyoming acquired a new position in Precigen in the first quarter worth $27,000. NBC Securities Inc. bought a new position in shares of Precigen in the fourth quarter valued at about $38,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Precigen in the third quarter valued at about $39,000. Royal Bank of Canada lifted its position in Precigen by 102.6% during the 1st quarter. Royal Bank of Canada now owns 10,714 shares of the biotechnology company's stock worth $41,000 after buying an additional 5,426 shares in the last quarter. Finally, Russell Investments Group Ltd. bought a new stake in Precigen during the 3rd quarter worth about $41,000. 33.51% of the stock is owned by institutional investors and hedge funds.

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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