Precigen (NASDAQ:PGEN) CFO Harry Jr. Thomasian Buys 2,932 Shares

Key Points

• Precigen CFO Harry Jr. Thomasian purchased 2,932 shares of the company's stock at an average price of $3.42 per share, increasing his total holdings to 468,626 shares valued at approximately $1.6 million.
• Precigen's stock experienced a 0.9% increase, reaching $3.51 during trading, with a market cap of $1.05 billion and a P/E ratio of -8.36.
• Wall Street analysts are generally optimistic about Precigen, with recent upgrades raising the target price to as high as $8.50, indicating a consensus rating of "Moderate Buy".

Precigen, Inc. (NASDAQ:PGEN - Get Free Report) CFO Harry Jr. Thomasian acquired 2,932 shares of the firm's stock in a transaction dated Friday, September 26th. The stock was bought at an average price of $3.42 per share, for a total transaction of $10,027.44. Following the acquisition, the chief financial officer owned 468,626 shares of the company's stock, valued at approximately $1,602,700.92. This trade represents a 0.63% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

• On Thursday, September 25th, Harry Jr. Thomasian acquired 8,284 shares of Precigen stock. The stock was bought at an average price of $3.62 per share, for a total transaction of $29,988.08.

Precigen Stock Up 0.9%

Shares of PGEN traded up $0.03 during trading hours on Friday, hitting $3.51. The company had a trading volume of 4,337,538 shares, compared to its average volume of 4,133,891. The firm has a market cap of $1.05 billion, a P/E ratio of -8.36 and a beta of 1.82. The stock's 50 day moving average price is $3.07 and its 200 day moving average price is $2.05. Precigen, Inc. has a 52-week low of $0.65 and a 52-week high of $5.22.

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

Institutional Investors Weigh In On Precigen

A number of hedge funds have recently added to or reduced their stakes in PGEN. BNP Paribas Financial Markets bought a new stake in shares of Precigen during the 4th quarter valued at $27,000. Bank of America Corp DE grew its position in shares of Precigen by 11.6% during the 4th quarter. Bank of America Corp DE now owns 207,300 shares of the biotechnology company's stock valued at $232,000 after acquiring an additional 21,626 shares during the period. Cetera Investment Advisers grew its position in shares of Precigen by 8.9% during the 4th quarter. Cetera Investment Advisers now owns 283,562 shares of the biotechnology company's stock valued at $318,000 after acquiring an additional 23,250 shares during the period. ProShare Advisors LLC grew its position in shares of Precigen by 26.6% during the 4th quarter. ProShare Advisors LLC now owns 51,822 shares of the biotechnology company's stock valued at $58,000 after acquiring an additional 10,900 shares during the period. Finally, Apella Capital LLC bought a new stake in shares of Precigen during the 1st quarter valued at $40,000. 33.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. JMP Securities raised their target price on Precigen from $6.00 to $8.00 and gave the stock a "market outperform" rating in a research note on Tuesday, August 19th. HC Wainwright reissued a "buy" rating and issued a $8.50 price target on shares of Precigen in a research report on Tuesday, August 19th. Wall Street Zen raised Precigen from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. JPMorgan Chase & Co. upgraded shares of Precigen from an "underweight" rating to a "neutral" rating in a report on Friday, August 15th. Finally, Citigroup restated an "outperform" rating on shares of Precigen in a report on Tuesday, August 19th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $8.25.

About Precigen

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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