Precigen, Inc. (NASDAQ:PGEN) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• Precigen, Inc. has received a consensus recommendation of "Moderate Buy" from five brokerages, with one hold rating and four buy ratings, aiming for an average target price of $8.25.
• Director Nancy H. Agee recently increased her stake in the company by purchasing 15,000 shares for a total of $69,000, bringing her ownership to over 217,000 shares.
• Precigen reported a quarterly EPS of ($0.11), surpassing estimates, and had a revenue of $0.86 million compared to analyst expectations of $0.67 million.

Precigen, Inc. (NASDAQ:PGEN - Get Free Report) has been given a consensus rating of "Moderate Buy" by the five brokerages that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $8.25.

A number of equities analysts recently issued reports on PGEN shares. HC Wainwright reissued a "buy" rating and set a $8.50 price target on shares of Precigen in a report on Tuesday, August 19th. JPMorgan Chase & Co. upgraded Precigen from an "underweight" rating to a "neutral" rating in a research note on Friday, August 15th. Wall Street Zen raised Precigen from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Citigroup reaffirmed an "outperform" rating on shares of Precigen in a report on Tuesday, August 19th. Finally, JMP Securities lifted their price objective on shares of Precigen from $6.00 to $8.00 and gave the company a "market outperform" rating in a research report on Tuesday, August 19th.

Insider Activity

In other news, Director Nancy H. Agee purchased 15,360 shares of the business's stock in a transaction that occurred on Tuesday, August 19th. The stock was purchased at an average cost of $3.20 per share, with a total value of $49,152.00. Following the completion of the acquisition, the director directly owned 192,196 shares of the company's stock, valued at approximately $615,027.20. This trade represents a 8.69% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders have bought 41,005 shares of company stock worth $167,651 in the last quarter. Insiders own 47.10% of the company's stock.

Hedge Funds Weigh In On Precigen

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Inspire Investing LLC acquired a new stake in shares of Precigen in the 1st quarter valued at approximately $350,000. MetLife Investment Management LLC purchased a new position in Precigen in the first quarter worth $124,000. Adage Capital Partners GP L.L.C. lifted its holdings in Precigen by 3.8% in the first quarter. Adage Capital Partners GP L.L.C. now owns 11,276,000 shares of the biotechnology company's stock valued at $16,801,000 after acquiring an additional 410,595 shares during the period. Nuveen LLC purchased a new stake in shares of Precigen during the 1st quarter worth $275,000. Finally, Mill Creek Capital Advisors LLC grew its stake in shares of Precigen by 131.8% during the 1st quarter. Mill Creek Capital Advisors LLC now owns 255,000 shares of the biotechnology company's stock worth $380,000 after purchasing an additional 145,000 shares during the period. Institutional investors and hedge funds own 33.51% of the company's stock.

Precigen Trading Up 2.7%

Shares of Precigen stock traded up $0.11 during trading on Friday, reaching $3.93. The company's stock had a trading volume of 3,062,716 shares, compared to its average volume of 4,003,933. The company has a 50-day moving average price of $2.85 and a two-hundred day moving average price of $1.97. Precigen has a fifty-two week low of $0.65 and a fifty-two week high of $5.22. The firm has a market cap of $1.17 billion, a PE ratio of -9.39 and a beta of 1.82.

Precigen (NASDAQ:PGEN - Get Free Report) last issued its quarterly earnings data on Tuesday, August 12th. The biotechnology company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.03. The company had revenue of $0.86 million for the quarter, compared to the consensus estimate of $0.67 million. Precigen had a negative net margin of 2,868.66% and a negative return on equity of 842.83%. On average, analysts predict that Precigen will post -0.32 earnings per share for the current fiscal year.

Precigen Company Profile

Precigen, Inc operates as a discovery and clinical-stage biopharmaceutical company that develops gene and cell therapies using precision technology to target diseases in therapeutic areas of immuno-oncology, autoimmune disorders, and infectious diseases. It operates through two segments, Biopharmaceuticals and Exemplar.