Precigen (NASDAQ:PGEN) Given New $8.00 Price Target at JMP Securities

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Precigen (NASDAQ:PGEN - Get Free Report) had its price objective raised by stock analysts at JMP Securities from $6.00 to $8.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a "market outperform" rating on the biotechnology company's stock. JMP Securities' price target indicates a potential upside of 171.19% from the company's previous close.

Several other equities research analysts also recently issued reports on PGEN. Cantor Fitzgerald reiterated an "overweight" rating on shares of Precigen in a research note on Thursday, May 15th. Citigroup reiterated an "outperform" rating on shares of Precigen in a research note on Tuesday. JPMorgan Chase & Co. upgraded Precigen from an "underweight" rating to a "neutral" rating in a research report on Friday. Wall Street Zen raised Precigen from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $8.50 target price on shares of Precigen in a report on Tuesday. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, Precigen has a consensus rating of "Moderate Buy" and a consensus price target of $8.25.

Precigen Stock Up 0.3%

Shares of Precigen stock opened at $2.95 on Tuesday. Precigen has a 12-month low of $0.65 and a 12-month high of $3.49. The stock has a 50 day moving average price of $1.71 and a two-hundred day moving average price of $1.61. The stock has a market capitalization of $879.01 million, a P/E ratio of -7.02 and a beta of 1.87.

Precigen (NASDAQ:PGEN - Get Free Report) last announced its 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 during the quarter, compared to analysts' expectations of $0.67 million. Precigen had a negative net margin of 2,868.66% and a negative return on equity of 842.83%. Sell-side analysts anticipate that Precigen will post -0.32 earnings per share for the current year.

Institutional Investors Weigh In On Precigen

A number of large investors have recently bought and sold shares of PGEN. BNP Paribas Financial Markets purchased a new stake in Precigen in the 4th quarter valued at $27,000. Envestnet Asset Management Inc. raised its holdings in shares of Precigen by 29.0% in the 4th quarter. Envestnet Asset Management Inc. now owns 26,343 shares of the biotechnology company's stock valued at $30,000 after acquiring an additional 5,915 shares in the last quarter. Apella Capital LLC bought a new position in Precigen in the first quarter valued at $40,000. Boothbay Fund Management LLC purchased a new position in Precigen in the 4th quarter worth $35,000. Finally, Voya Investment Management LLC grew its holdings in shares of Precigen by 142.9% in the first quarter. Voya Investment Management LLC now owns 36,771 shares of the biotechnology company's stock worth $55,000 after purchasing an additional 21,633 shares during the last quarter. 33.51% of the stock is currently owned by institutional investors and hedge funds.

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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