Precigen (NASDAQ:PGEN) Director Randal Kirk Sells 1,809,667 Shares

Key Points

• Precigen Director Randal Kirk sold 1,809,667 shares at an average price of $3.41, resulting in a total transaction value of approximately $6.17 million, reducing his ownership by 11.03%.
• Precigen's stock price decreased by 9.4% to $3.29 during trading, with significant trading volume of 7,013,098 shares compared to its average of 4,146,004.
• Analysts have a consensus rating of "Moderate Buy" for Precigen, with an average target price of $8.25, reflecting a positive outlook amidst recent stock performance.

Precigen, Inc. (NASDAQ:PGEN - Get Free Report) Director Randal Kirk sold 1,809,667 shares of the company's stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $3.41, for a total value of $6,170,964.47. Following the transaction, the director directly owned 14,597,161 shares in the company, valued at approximately $49,776,319.01. The trade was a 11.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Precigen Trading Down 9.4%

Shares of PGEN stock traded down $0.34 during trading hours on Tuesday, reaching $3.29. 7,013,098 shares of the company's stock were exchanged, compared to its average volume of 4,146,004. The stock's 50 day moving average is $3.15 and its 200-day moving average is $2.08. The company has a market cap of $980.33 million, a price-to-earnings ratio of -7.83 and a beta of 1.82. Precigen, Inc. has a fifty-two week low of $0.65 and a fifty-two week high of $5.22.

Precigen (NASDAQ:PGEN - Get Free Report) last issued its quarterly earnings results on Tuesday, August 12th. The biotechnology company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.14) by $0.03. The business 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%. Equities analysts anticipate that Precigen, Inc. will post -0.32 EPS for the current year.

Institutional Investors Weigh In On Precigen

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PGEN. BNP Paribas Financial Markets acquired a new stake in shares of Precigen during the 4th quarter valued at about $27,000. Apella Capital LLC acquired a new stake in shares of Precigen during the 1st quarter valued at about $40,000. Voya Investment Management LLC grew its position in shares of Precigen by 142.9% during the 1st quarter. Voya Investment Management LLC now owns 36,771 shares of the biotechnology company's stock valued at $55,000 after acquiring an additional 21,633 shares during the period. Strs Ohio acquired a new stake in shares of Precigen during the 1st quarter valued at about $70,000. Finally, 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. 33.51% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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