Precigen (NASDAQ:PGEN) Hits New 1-Year High - What's Next?

Key Points

• Precigen, Inc. shares reached a new 52-week high at $4.30, closing at $4.46 with significant trading volume of 161,265 shares.
• A consensus rating of “Moderate Buy” has been assigned to Precigen, with four analysts rating it as a Buy and one as a Hold, along with an average price target of $8.25.
• The company's recent earnings report showed a net margin of -2,868.66% and a revenue of $0.86 million, exceeding estimates, despite a projected earnings per share of -0.32 for the current fiscal year.

Precigen, Inc. (NASDAQ:PGEN - Get Free Report) shares reached a new 52-week high on Wednesday . The company traded as high as $4.30 and last traded at $4.46, with a volume of 161265 shares. The stock had previously closed at $4.26.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PGEN. HC Wainwright restated a "buy" rating and issued a $8.50 price objective on shares of Precigen in a research note on Tuesday, August 19th. Cantor Fitzgerald restated an "overweight" rating on shares of Precigen in a research note on Thursday, May 15th. JMP Securities lifted their price objective on Precigen from $6.00 to $8.00 and gave the company a "market outperform" rating in a report on Tuesday, August 19th. JPMorgan Chase & Co. upgraded Precigen from an "underweight" rating to a "neutral" rating in a research note on Friday, August 15th. Finally, Wall Street Zen raised Precigen from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $8.25.

Precigen Stock Down 0.9%

The company has a market cap of $1.34 billion, a price-to-earnings ratio of -10.74 and a beta of 1.87. The company's fifty day moving average price is $2.16 and its two-hundred day moving average price is $1.76.

Precigen (NASDAQ:PGEN - Get Free Report) last released its quarterly earnings results on Tuesday, August 12th. The biotechnology company reported ($0.11) earnings per share for the quarter, beating analysts' consensus estimates of ($0.14) by $0.03. The firm 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%. Research analysts forecast that Precigen, Inc. will post -0.32 earnings per share for the current year.

Insider Transactions at Precigen

In related news, Director Nancy H. Agee purchased 15,360 shares of Precigen stock in a transaction that occurred on Tuesday, August 19th. The shares were acquired at an average price of $3.20 per share, for a total transaction of $49,152.00. Following the transaction, the director directly owned 192,196 shares in the company, valued at approximately $615,027.20. This represents a 8.69% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 47.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Precigen

A number of large investors have recently modified their holdings of PGEN. BNP Paribas Financial Markets bought a new stake in shares of Precigen during the fourth quarter valued at approximately $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 valued at $30,000 after purchasing an additional 5,915 shares during the last quarter. Apella Capital LLC bought a new stake in shares of Precigen during the first quarter valued at approximately $40,000. Boothbay Fund Management LLC bought a new stake in shares of Precigen during the fourth quarter valued at approximately $35,000. Finally, Voya Investment Management LLC grew its stake in shares of Precigen by 142.9% during the first quarter. Voya Investment Management LLC now owns 36,771 shares of the biotechnology company's stock valued at $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.