Precigen, Inc. (NASDAQ:PGEN) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• Precigen, Inc. (NASDAQ:PGEN) has received a consensus rating of "Moderate Buy" from six brokerages, with an average one-year target price of $8.25.
• The biotechnology firm reported earnings of ($0.11) per share for the latest quarter, exceeding the expected loss of ($0.14) per share.
• Recent insider transactions include a purchase of 15,000 shares by Director Nancy H. Agee and the sale of 106,837 shares by Director Jeffrey B. Kindler.

Shares of Precigen, Inc. (NASDAQ:PGEN - Get Free Report) have received an average rating of "Moderate Buy" from the six ratings firms that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $8.25.

PGEN has been the subject of several research reports. Weiss Ratings restated a "sell (d-)" rating on shares of Precigen in a report on Saturday, September 27th. JMP Securities increased their price target on shares of Precigen from $6.00 to $8.00 and gave the stock a "market outperform" rating in a research note on Tuesday, August 19th. JPMorgan Chase & Co. raised Precigen from an "underweight" rating to a "neutral" rating in a research report on Friday, August 15th. Wall Street Zen raised Precigen from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Finally, HC Wainwright restated a "buy" rating and issued a $8.50 target price on shares of Precigen in a research note on Tuesday, August 19th.

Precigen Stock Performance

NASDAQ PGEN opened at $3.31 on Wednesday. The stock has a market cap of $986.28 million, a P/E ratio of -7.88 and a beta of 1.61. Precigen has a fifty-two week low of $0.65 and a fifty-two week high of $5.22. The stock has a 50 day simple moving average of $3.35 and a two-hundred day simple moving average of $2.14.

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

Insider Buying and Selling at Precigen

In other Precigen news, Director Nancy H. Agee purchased 15,000 shares of the firm's stock in a transaction that occurred on Thursday, September 4th. The stock was bought at an average cost of $4.60 per share, for a total transaction of $69,000.00. Following the purchase, the director directly owned 217,841 shares in the company, valued at $1,002,068.60. The trade was a 7.39% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeffrey B. Kindler sold 106,837 shares of the business's stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $3.38, for a total transaction of $361,109.06. Following the sale, the director directly owned 346,070 shares in the company, valued at $1,169,716.60. The trade was a 23.59% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have bought 54,221 shares of company stock worth $214,467 and have sold 6,984,279 shares worth $25,428,688. Corporate insiders own 47.10% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PGEN. Bank of America Corp DE boosted its holdings in Precigen by 11.6% in the fourth quarter. Bank of America Corp DE now owns 207,300 shares of the biotechnology company's stock worth $232,000 after acquiring an additional 21,626 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of Precigen in the 1st quarter worth about $87,000. Deutsche Bank AG boosted its stake in Precigen by 35.3% in the 1st quarter. Deutsche Bank AG now owns 91,031 shares of the biotechnology company's stock worth $136,000 after purchasing an additional 23,729 shares in the last quarter. Nuveen LLC purchased a new stake in Precigen during the 1st quarter valued at about $275,000. Finally, Mill Creek Capital Advisors LLC increased its stake in Precigen by 131.8% during the 1st quarter. Mill Creek Capital Advisors LLC now owns 255,000 shares of the biotechnology company's stock valued at $380,000 after purchasing an additional 145,000 shares in the last quarter. Institutional investors own 33.51% of the company's stock.

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.

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