Precigen (NASDAQ:PGEN) Downgraded by Wall Street Zen to "Sell"

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

Other research analysts have also issued research reports about the company. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Precigen in a report on Thursday, May 15th. HC Wainwright reissued a "buy" rating and set a $6.00 price objective on shares of Precigen in a report on Thursday, March 20th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $7.00.

Precigen Stock Performance

Shares of Precigen stock traded up $0.02 on Friday, hitting $1.39. The stock had a trading volume of 1,051,441 shares, compared to its average volume of 1,337,785. The firm has a market capitalization of $410.30 million, a P/E ratio of -2.53 and a beta of 1.82. The stock has a 50 day moving average of $1.42 and a 200 day moving average of $1.33. Precigen has a twelve month low of $0.65 and a twelve month high of $2.17.

Precigen (NASDAQ:PGEN - Get Free Report) last posted its quarterly earnings results on Wednesday, May 14th. The biotechnology company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate 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%. Equities analysts expect that Precigen will post -0.32 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in PGEN. Parkman Healthcare Partners LLC bought a new position in shares of Precigen during the 1st quarter valued at approximately $4,755,000. Iridian Asset Management LLC CT lifted its stake in shares of Precigen by 38.8% during the 4th quarter. Iridian Asset Management LLC CT now owns 5,241,922 shares of the biotechnology company's stock worth $5,871,000 after purchasing an additional 1,465,962 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its position in Precigen by 3.8% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 11,276,000 shares of the biotechnology company's stock valued at $16,801,000 after buying an additional 410,595 shares in the last quarter. Nuveen LLC purchased a new position in shares of Precigen in the first quarter worth about $275,000. Finally, Mill Creek Capital Advisors LLC grew its holdings in Precigen by 131.8% during the first quarter. Mill Creek Capital Advisors LLC now owns 255,000 shares of the biotechnology company's stock worth $380,000 after acquiring an additional 145,000 shares during the period. 33.51% of the stock is owned by hedge funds and other institutional investors.

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.