Precigen, Inc. (NASDAQ:PGEN) Given Average Recommendation of "Hold" by Brokerages

Key Points

• Analysts have a consensus “Hold” rating on Precigen, with three buys, two holds and one sell; the average 12-month price target is $12.50.
• Precigen shares opened at $6.61 after rising 5.4%, near their 52-week high of $6.70. The company beat quarterly expectations, reporting an adjusted loss of $0.02 per share versus the $0.03 consensus loss and revenue of $23.25 million.
• Insiders sold 956,500 shares worth $5.25 million over the past 90 days, while institutional investors own 33.51% of the company and several major funds increased their positions.

Precigen, Inc. (NASDAQ:PGEN - Get Free Report) has been assigned a consensus recommendation of "Hold" from the six ratings firms that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $12.50.

Several research firms recently commented on PGEN. Citigroup reiterated an "outperform" rating on shares of Precigen in a research report on Thursday, May 14th. Citizens Jmp lifted their price target on shares of Precigen from $9.00 to $11.00 and gave the stock a "market outperform" rating in a report on Thursday, May 14th. HC Wainwright reissued a "buy" rating and issued a $14.00 price objective on shares of Precigen in a research note on Monday. Wall Street Zen downgraded Precigen from a "buy" rating to a "hold" rating in a report on Sunday, May 31st. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Precigen in a research report on Friday, July 17th.

Precigen Trading Up 5.4%

Shares of PGEN stock opened at $6.61 on Tuesday. The firm has a market capitalization of $2.36 billion, a P/E ratio of -5.60 and a beta of 1.00. Precigen has a twelve month low of $1.70 and a twelve month high of $6.70. The company has a quick ratio of 4.12, a current ratio of 4.82 and a debt-to-equity ratio of 4.62. The stock's fifty day simple moving average is $5.03 and its 200 day simple moving average is $4.43.

Precigen (NASDAQ:PGEN - Get Free Report) last posted its earnings results on Wednesday, May 13th. The biotechnology company reported ($0.02) EPS for the quarter, beating the consensus estimate 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 positive return on equity of 717.50% and a negative net margin of 646.99%. As a group, sell-side analysts predict that Precigen will post -0.02 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Helen Sabzevari sold 346,836 shares of the company's stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $5.89, for a total value of $2,042,864.04. Following the sale, the chief executive officer directly owned 3,768,872 shares in the company, valued at $22,198,656.08. This represents a 8.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Donald P. Lehr sold 29,131 shares of the stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $4.36, for a total transaction of $127,011.16. Following the sale, the insider directly owned 755,461 shares of the company's stock, valued at $3,293,809.96. This represents a 3.71% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 956,500 shares of company stock worth $5,248,371. Corporate insiders own 41.40% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. State Street Corp grew its holdings in Precigen by 141.1% during the 4th quarter. State Street Corp now owns 10,824,860 shares of the biotechnology company's stock worth $45,248,000 after acquiring an additional 6,335,033 shares during the period. SymBiosis Capital Partners LLC acquired a new position in shares of Precigen in the 4th quarter valued at about $12,540,000. Bank of America Corp DE boosted its position in shares of Precigen by 201.1% during the 3rd quarter. Bank of America Corp DE now owns 2,505,992 shares of the biotechnology company's stock valued at $8,245,000 after purchasing an additional 1,673,731 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Precigen by 196.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,173,933 shares of the biotechnology company's stock valued at $9,087,000 after purchasing an additional 1,440,446 shares in the last quarter. Finally, Occam Crest Management LP boosted its position in shares of Precigen by 29.6% during the 4th 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. Institutional investors and hedge funds own 33.51% of the company's stock.

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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