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Precigen (NASDAQ:PGEN) Releases Earnings Results, Beats Estimates By $0.03 EPS

Precigen logo with Medical background

Key Points

  • Precigen reported an earnings per share (EPS) of ($0.11) for the quarter, surpassing analysts' consensus estimates of ($0.14) by $0.03.
  • The stock traded at $1.80, with a market capitalization of $531.32 million and a negative P/E ratio of -3.21.
  • Institutional investors recently increased their stakes in Precigen, with notable purchases from Geode Capital Management and Creative Planning, indicating growing interest in the stock.
  • Looking to export and analyze Precigen data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Precigen (NASDAQ:PGEN - Get Free Report) posted its quarterly earnings results on Tuesday. The biotechnology company reported ($0.11) EPS for the quarter, topping analysts' consensus estimates of ($0.14) by $0.03, Zacks reports. Precigen had a negative return on equity of 279.20% and a negative net margin of 3,728.87%.

Precigen Stock Performance

NASDAQ:PGEN traded up $0.06 during trading hours on Tuesday, reaching $1.80. The stock had a trading volume of 2,245,829 shares, compared to its average volume of 2,003,204. The stock has a 50 day simple moving average of $1.62 and a 200 day simple moving average of $1.58. Precigen has a 12-month low of $0.65 and a 12-month high of $2.17. The stock has a market cap of $531.32 million, a P/E ratio of -3.21 and a beta of 1.87.

Institutional Trading of Precigen

A number of large investors have recently bought and sold shares of PGEN. Geode Capital Management LLC boosted its stake in Precigen by 7.7% during the second quarter. Geode Capital Management LLC now owns 3,749,182 shares of the biotechnology company's stock valued at $5,325,000 after buying an additional 269,580 shares during the period. Rhumbline Advisers increased its holdings in Precigen by 3.7% during 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 period. XTX Topco Ltd bought a new position in Precigen during the 2nd quarter valued at approximately $190,000. Creative Planning raised its position in Precigen by 127.8% during the 2nd quarter. Creative Planning now owns 94,291 shares of the biotechnology company's stock valued at $134,000 after purchasing an additional 52,901 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Precigen by 12.5% during 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. 33.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PGEN has been the topic of a number of research reports. JMP Securities restated a "market outperform" rating and set a $6.00 price objective on shares of Precigen in a research report on Thursday, June 12th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Precigen in a research note on Thursday, May 15th. Finally, Wall Street Zen upgraded Precigen from a "sell" rating to a "hold" rating in a report on Saturday, July 12th.

Read Our Latest Report on PGEN

Precigen Company Profile

(Get Free Report)

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.

Read More

Earnings History for Precigen (NASDAQ:PGEN)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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