HC Wainwright Reaffirms "Buy" Rating for Precigen (NASDAQ:PGEN)

Key Points

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HC Wainwright reissued their buy rating on shares of Precigen (NASDAQ:PGEN - Free Report) in a report published on Tuesday,Benzinga reports. They currently have a $8.50 price objective on the biotechnology company's stock. HC Wainwright also issued estimates for Precigen's FY2025 earnings at ($0.31) EPS.

Several other equities analysts have also issued reports on the company. JMP Securities reaffirmed a "market outperform" rating and set a $6.00 price objective on shares of Precigen in a report on Thursday, June 12th. Wall Street Zen raised shares of Precigen from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Precigen in a research note on Thursday, May 15th. Finally, JPMorgan Chase & Co. upgraded shares of Precigen from an "underweight" rating to a "neutral" rating in a report on Friday, August 15th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Precigen presently has an average rating of "Moderate Buy" and a consensus price target of $8.25.

Precigen Stock Up 14.8%

NASDAQ:PGEN traded up $0.54 during midday trading on Tuesday, hitting $4.18. The stock had a trading volume of 24,184,755 shares, compared to its average volume of 14,296,194. Precigen has a one year low of $0.65 and a one year high of $4.21. The stock has a 50-day moving average of $1.87 and a 200 day moving average of $1.67. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of -9.95 and a beta of 1.87.

Precigen (NASDAQ:PGEN - Get Free Report) last issued its quarterly earnings results on Tuesday, August 12th. The biotechnology company reported ($0.11) EPS for the quarter, topping analysts' consensus estimates of ($0.14) by $0.03. The company had revenue of $0.86 million during the quarter, compared to analysts' expectations 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, sell-side analysts anticipate that Precigen will post -0.32 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets grew its position in Precigen by 134.7% during the 2nd quarter. BNP Paribas Financial Markets now owns 48,803 shares of the biotechnology company's stock valued at $69,000 after purchasing an additional 28,005 shares during the last quarter. Bank of America Corp DE lifted its position in shares of Precigen by 258.2% during the second quarter. Bank of America Corp DE now owns 832,261 shares of the biotechnology company's stock valued at $1,182,000 after buying an additional 599,914 shares during the last quarter. Diametric Capital LP acquired a new position in Precigen in the 2nd quarter worth approximately $476,000. Marshall Wace LLP acquired a new stake in shares of Precigen during the 2nd quarter worth approximately $524,000. Finally, Invesco Ltd. boosted its stake in Precigen by 43.7% during the 2nd quarter. Invesco Ltd. now owns 62,955 shares of the biotechnology company's stock worth $89,000 after purchasing an additional 19,149 shares during the last quarter. 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.