Precigen (NASDAQ:PGEN) Cut to Sell at Wall Street Zen

Precigen (NASDAQ:PGEN - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report issued on Saturday.

PGEN has been the subject of several other reports. Cantor Fitzgerald reiterated an "overweight" rating on shares of Precigen in a research report on Thursday, May 15th. HC Wainwright restated a "buy" rating and set a $6.00 price objective on shares of Precigen in a report on Thursday, March 20th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $7.00.

Precigen Trading Up 2.9%

Shares of PGEN traded up $0.04 during mid-day trading on Friday, hitting $1.41. 1,586,792 shares of the company traded hands, compared to its average volume of 1,329,996. Precigen has a one year low of $0.65 and a one year high of $2.17. The business has a 50-day moving average of $1.45 and a 200 day moving average of $1.32. The stock has a market capitalization of $416.20 million, a price-to-earnings ratio of -2.56 and a beta of 1.82.

Precigen (NASDAQ:PGEN - Get Free Report) last released its earnings results on Wednesday, May 14th. The biotechnology company reported ($0.07) earnings per share for the quarter, beating analysts' consensus estimates of ($0.08) by $0.01. The business had revenue of $1.34 million during the quarter, compared to the consensus estimate of $0.50 million. Precigen had a negative net margin of 3,521.68% and a negative return on equity of 123.06%. As a group, analysts anticipate that Precigen will post -0.32 earnings per share for the current year.

Hedge Funds Weigh In On Precigen

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Parkman Healthcare Partners LLC acquired a new position in Precigen in the 1st quarter valued at $4,755,000. Iridian Asset Management LLC CT grew its position in shares of Precigen by 38.8% during the fourth quarter. Iridian Asset Management LLC CT now owns 5,241,922 shares of the biotechnology company's stock worth $5,871,000 after buying an additional 1,465,962 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its stake in Precigen by 3.8% during the first quarter. Adage Capital Partners GP L.L.C. now owns 11,276,000 shares of the biotechnology company's stock worth $16,801,000 after purchasing an additional 410,595 shares during the last quarter. Nuveen LLC purchased a new stake in Precigen in the first quarter valued at approximately $275,000. Finally, Mill Creek Capital Advisors LLC lifted its stake in Precigen by 131.8% in the first quarter. Mill Creek Capital Advisors LLC now owns 255,000 shares of the biotechnology company's stock valued at $380,000 after buying an additional 145,000 shares during the last quarter. Institutional investors and hedge funds own 33.51% of the company's stock.

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.