Precigen (NASDAQ:PGEN) Earns Market Outperform Rating from JMP Securities

JMP Securities reaffirmed their market outperform rating on shares of Precigen (NASDAQ:PGEN - Free Report) in a report published on Thursday,Benzinga reports. JMP Securities currently has a $6.00 price target on the biotechnology company's stock.

A number of other analysts have also issued reports on PGEN. Cantor Fitzgerald reissued an "overweight" rating on shares of Precigen in a research report on Thursday, May 15th. HC Wainwright reissued a "buy" rating and issued a $6.00 target price on shares of Precigen in a research report on Thursday, March 20th. Finally, Wall Street Zen lowered Precigen from a "hold" rating to a "sell" rating in a research report on Saturday, May 24th.

Precigen Price Performance

Precigen stock remained flat at $1.52 during midday trading on Thursday. 1,253,970 shares of the company were exchanged, compared to its average volume of 1,349,969. The company has a market capitalization of $448.67 million, a P/E ratio of -2.76 and a beta of 1.85. Precigen has a 1 year low of $0.65 and a 1 year high of $2.17. The business has a 50-day moving average of $1.42 and a two-hundred day moving average of $1.38.

Precigen (NASDAQ:PGEN - Get Free Report) last issued its quarterly 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 firm had revenue of $1.34 million for the quarter, compared to analyst estimates of $0.50 million. Precigen had a negative net margin of 3,521.68% and a negative return on equity of 123.06%. On average, research analysts forecast that Precigen will post -0.32 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Precigen

Several institutional investors have recently modified their holdings of PGEN. BNP Paribas Financial Markets acquired a new position in shares of Precigen during the fourth quarter worth $27,000. Envestnet Asset Management Inc. grew its stake in shares of Precigen by 29.0% during the fourth quarter. Envestnet Asset Management Inc. now owns 26,343 shares of the biotechnology company's stock worth $30,000 after purchasing an additional 5,915 shares in the last quarter. Boothbay Fund Management LLC acquired a new position in shares of Precigen during the fourth quarter worth $35,000. Apella Capital LLC acquired a new position in shares of Precigen during the first quarter worth $40,000. Finally, RPO LLC acquired a new position in shares of Precigen during the fourth quarter worth $47,000. Institutional investors and hedge funds own 33.51% of the company's stock.

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.