Precigen (NASDAQ:PGEN) Rating Increased to Neutral at 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 report issued on Friday,Finviz reports.

A number of other analysts have also recently weighed in on PGEN. HC Wainwright reiterated a "buy" rating and issued a $6.00 price target on shares of Precigen in a research report on Wednesday. JMP Securities reiterated a "market outperform" rating and issued a $6.00 price target on shares of Precigen in a research report on Thursday, June 12th. Wall Street Zen upgraded Precigen from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Finally, Cantor Fitzgerald reiterated an "overweight" rating on shares of Precigen in a research report on Thursday, May 15th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $6.00.

Precigen Trading Down 3.1%

PGEN opened at $1.85 on Friday. The stock has a market cap of $551.24 million, a PE ratio of -4.40 and a beta of 1.87. Precigen has a 1 year low of $0.65 and a 1 year high of $2.17. The stock's 50 day simple moving average is $1.65 and its 200-day simple moving average is $1.58.

Precigen (NASDAQ:PGEN - Get Free Report) last released its quarterly earnings data on Tuesday, August 12th. The biotechnology company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.14) by $0.03. The business had revenue of $0.86 million for 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%. Equities analysts forecast that Precigen will post -0.32 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets acquired a new stake in Precigen in the 4th quarter valued at about $27,000. Envestnet Asset Management Inc. raised its stake in shares of Precigen by 29.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 26,343 shares of the biotechnology company's stock worth $30,000 after acquiring an additional 5,915 shares during the last quarter. Boothbay Fund Management LLC bought a new position in shares of Precigen in the fourth quarter worth about $35,000. Apella Capital LLC bought a new position in shares of Precigen in the first quarter worth about $40,000. Finally, Invesco Ltd. raised its stake in shares of Precigen by 14.6% in the fourth quarter. Invesco Ltd. now owns 47,307 shares of the biotechnology company's stock worth $53,000 after acquiring an additional 6,040 shares during the last quarter. Institutional investors and hedge funds own 33.51% of the company's stock.

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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