Precigen (NASDAQ:PGEN) Stock Rating Upgraded by JPMorgan Chase & Co.

Key Points

• Precigen (NASDAQ:PGEN) has been upgraded from an "underweight" to a "neutral" rating by JPMorgan Chase & Co., signaling a shift in analyst sentiment.
• Multiple analysts have issued buy or hold ratings for Precigen, with a consensus rating of "Moderate Buy" and an average price target of $6.00.
• Precigen reported a quarterly revenue of $0.86 million, exceeding expectations, and a smaller loss per share than estimated, positioning the firm for potential growth.

Precigen (NASDAQ:PGEN - Get Free Report) was upgraded by equities researchers at JPMorgan Chase & Co. from an "underweight" rating to a "neutral" rating in a note issued to investors on Friday, Marketbeat.com reports.

Other equities research analysts have also issued reports about the stock. JMP Securities restated 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 upgraded Precigen from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. HC Wainwright restated a "buy" rating and issued a $6.00 price target on shares of Precigen in a report on Wednesday, August 13th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Precigen in a research report on Thursday, May 15th. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Precigen currently has an average rating of "Moderate Buy" and a consensus target price of $8.25.

Precigen Trading Down 2.3%

Shares of NASDAQ PGEN traded down $0.0750 during mid-day trading on Friday, reaching $3.1450. 5,017,398 shares of the company's stock were exchanged, compared to its average volume of 3,350,448. Precigen has a twelve month low of $0.65 and a twelve month high of $3.49. The firm has a market capitalization of $937.12 million, a price-to-earnings ratio of -7.49 and a beta of 1.87. The business has a fifty day simple moving average of $1.74 and a 200 day simple moving average of $1.62.

Precigen (NASDAQ:PGEN - Get Free Report) last posted 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. Precigen had a negative return on equity of 842.83% and a negative net margin of 2,868.66%.The business had revenue of $0.86 million during the quarter, compared to analysts' expectations of $0.67 million. Equities research analysts predict that Precigen will post -0.32 earnings per share for the current fiscal year.

Institutional Trading of Precigen

Several institutional investors and hedge funds have recently added to or reduced their stakes in PGEN. Envestnet Asset Management Inc. lifted its stake in Precigen by 29.0% in the fourth 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 during the last quarter. Invesco Ltd. raised its holdings in shares of Precigen by 14.6% in the 4th quarter. Invesco Ltd. now owns 47,307 shares of the biotechnology company's stock valued at $53,000 after purchasing an additional 6,040 shares during the period. Rhumbline Advisers lifted its stake in Precigen by 3.7% in the 2nd quarter. Rhumbline Advisers now owns 198,078 shares of the biotechnology company's stock valued at $281,000 after purchasing an additional 7,041 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Precigen by 12.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 81,610 shares of the biotechnology company's stock valued at $122,000 after purchasing an additional 9,043 shares during the last quarter. Finally, ProShare Advisors LLC grew its holdings in Precigen by 26.6% during the fourth quarter. ProShare Advisors LLC now owns 51,822 shares of the biotechnology company's stock worth $58,000 after purchasing an additional 10,900 shares during the period. 33.51% of the stock is owned by institutional investors.

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.