Insider Selling: Precigen (NASDAQ:PGEN) CFO Sells 100,000 Shares

Key Points

• Precigen CFO Harry Jr. Thomasian sold 100,000 shares at an average price of $6.06, totaling $606,000. The sale was conducted under a pre-arranged Rule 10b5-1 plan, leaving him with 254,535 shares.
• Thomasian has also sold shares in several transactions since late May, totaling more than 241,000 additional shares, indicating substantial recent insider selling.
• Precigen shares rose 5.6% to $6.27, near their 12-month high. Analysts’ average rating is “Hold,” with an average price target of $12.50, while institutional investors own 33.51% of the stock.

Precigen, Inc. (NASDAQ:PGEN - Get Free Report) CFO Harry Jr. Thomasian sold 100,000 shares of Precigen stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $6.06, for a total value of $606,000.00. Following the completion of the transaction, the chief financial officer directly owned 254,535 shares of the company's stock, valued at approximately $1,542,482.10. This represents a 28.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Harry Jr. Thomasian also recently made the following trade(s):

• On Wednesday, July 1st, Harry Jr. Thomasian sold 171,429 shares of Precigen stock. The shares were sold at an average price of $5.53, for a total transaction of $948,002.37.
• On Monday, June 29th, Harry Jr. Thomasian sold 28,571 shares of Precigen stock. The shares were sold at an average price of $5.78, for a total transaction of $165,140.38.
• On Thursday, May 28th, Harry Jr. Thomasian sold 41,884 shares of Precigen stock. The stock was sold at an average price of $4.36, for a total transaction of $182,614.24.

Precigen Stock Up 5.6%

Precigen stock traded up $0.33 during mid-day trading on Friday, reaching $6.27. 5,613,108 shares of the company's stock were exchanged, compared to its average volume of 4,460,619. Precigen, Inc. has a twelve month low of $1.63 and a twelve month high of $6.28. The company has a fifty day moving average of $4.94 and a 200-day moving average of $4.39. The company has a market cap of $2.24 billion, a P/E ratio of -5.31 and a beta of 1.00. The company has a quick ratio of 4.12, a current ratio of 4.82 and a debt-to-equity ratio of 4.62.

Precigen (NASDAQ:PGEN - Get Free Report) last issued its earnings results on Wednesday, May 13th. The biotechnology company reported ($0.02) EPS for the quarter, topping analysts' consensus estimates of ($0.03) by $0.01. The firm had revenue of $23.25 million during the quarter, compared to the consensus estimate of $20.81 million. Precigen had a negative net margin of 646.99% and a positive return on equity of 717.50%. Sell-side analysts expect that Precigen, Inc. will post -0.02 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Occam Crest Management LP grew its position in shares of Precigen by 29.6% during the fourth quarter. Occam Crest Management LP now owns 3,501,739 shares of the biotechnology company's stock worth $14,637,000 after acquiring an additional 799,339 shares during the last quarter. KBC Group NV purchased a new stake in Precigen in the 1st quarter valued at $1,338,000. UBS Group AG raised its position in Precigen by 41.4% in the 4th quarter. UBS Group AG now owns 891,428 shares of the biotechnology company's stock valued at $3,726,000 after purchasing an additional 260,824 shares during the last quarter. Investment Insight Wealth Management LLC acquired a new stake in Precigen during the 4th quarter worth $443,000. Finally, Impala Asset Management LLC acquired a new stake in Precigen during the 4th quarter worth $690,000. Hedge funds and other institutional investors own 33.51% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on PGEN shares. Citizens Jmp increased their price objective on Precigen from $9.00 to $11.00 and gave the company a "market outperform" rating in a report on Thursday, May 14th. Wall Street Zen cut Precigen from a "buy" rating to a "hold" rating in a research note on Sunday, May 31st. 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 note on Thursday, May 14th. Finally, HC Wainwright raised their price objective on shares of Precigen from $11.00 to $14.00 and gave the stock a "buy" rating in a report on Thursday, May 28th. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $12.50.

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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