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

Key Points

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Precigen, Inc. (NASDAQ:PGEN - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the five ratings firms that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $8.25.

A number of brokerages recently commented on PGEN. JPMorgan Chase & Co. upgraded shares of Precigen from an "underweight" rating to a "neutral" rating in a research report on Friday. Citigroup restated an "outperform" rating on shares of Precigen in a research report on Tuesday. JMP Securities raised 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. HC Wainwright restated a "buy" rating and set a $8.50 target price on shares of Precigen in a research report on Tuesday. Finally, Wall Street Zen raised shares of Precigen from a "sell" rating to a "hold" rating in a report on Saturday, July 12th.

Precigen Price Performance

Shares of NASDAQ PGEN traded up $0.32 during midday trading on Tuesday, hitting $3.27. 5,606,510 shares of the company's stock were exchanged, compared to its average volume of 3,257,594. Precigen has a twelve month low of $0.65 and a twelve month high of $3.49. The company has a market cap of $974.66 million, a PE ratio of -7.75 and a beta of 1.87. The firm's fifty day simple moving average is $1.71 and its 200-day simple moving average is $1.61.

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

Institutional Trading of Precigen

Institutional investors and hedge funds have recently modified their holdings of the business. Geode Capital Management LLC grew its holdings in shares of Precigen by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 3,299,851 shares of the biotechnology company's stock worth $3,696,000 after buying an additional 53,343 shares in the last quarter. Barclays PLC grew its holdings in shares of Precigen by 28.3% during the fourth quarter. Barclays PLC now owns 242,899 shares of the biotechnology company's stock worth $272,000 after buying an additional 53,546 shares in the last quarter. Wells Fargo & Company MN grew its holdings in shares of Precigen by 12.0% during the fourth quarter. Wells Fargo & Company MN now owns 114,558 shares of the biotechnology company's stock worth $128,000 after buying an additional 12,285 shares in the last quarter. ProShare Advisors LLC grew its holdings in Precigen by 26.6% in the 4th quarter. ProShare Advisors LLC now owns 51,822 shares of the biotechnology company's stock valued at $58,000 after buying an additional 10,900 shares during the period. Finally, Bank of America Corp DE grew its holdings in Precigen by 11.6% in the 4th quarter. Bank of America Corp DE now owns 207,300 shares of the biotechnology company's stock valued at $232,000 after buying an additional 21,626 shares during the period. Hedge funds and other 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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