Precigen (NASDAQ:PGEN) Sees Strong Trading Volume - What's Next?

Precigen, Inc. (NASDAQ:PGEN - Get Free Report) shares saw an uptick in trading volume on Wednesday . 1,162,796 shares changed hands during trading, a decline of 18% from the previous session's volume of 1,424,528 shares.The stock last traded at $1.89 and had previously closed at $1.70.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PGEN. HC Wainwright restated a "buy" rating and set a $6.00 target price on shares of Precigen in a report on Thursday, March 20th. Cantor Fitzgerald restated an "overweight" rating on shares of Precigen in a report on Thursday, May 15th. Wall Street Zen cut Precigen from a "hold" rating to a "sell" rating in a report on Saturday, May 24th. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $6.00 price target on shares of Precigen in a research report on Thursday, June 12th.

Precigen Stock Performance

The stock has a 50-day moving average of $1.45 and a 200-day moving average of $1.46. The firm has a market cap of $563.79 million, a price-to-earnings ratio of -3.41 and a beta of 1.78.

Precigen (NASDAQ:PGEN - Get Free Report) last announced its earnings results on Wednesday, May 14th. The biotechnology company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.08) by $0.01. The business had revenue of $1.34 million for the quarter, compared to analyst estimates of $0.50 million. Precigen had a negative return on equity of 279.20% and a negative net margin of 3,728.87%. Sell-side analysts predict that Precigen, Inc. will post -0.32 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Envestnet Asset Management Inc. increased its holdings in shares of Precigen by 29.0% during the 4th 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. Invesco Ltd. lifted its position in shares of Precigen by 14.6% during the 4th quarter. Invesco Ltd. now owns 47,307 shares of the biotechnology company's stock valued at $53,000 after acquiring an additional 6,040 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of 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 acquiring an additional 9,043 shares during the period. ProShare Advisors LLC lifted its position in shares of Precigen by 26.6% during the 4th quarter. ProShare Advisors LLC now owns 51,822 shares of the biotechnology company's stock valued at $58,000 after acquiring an additional 10,900 shares during the period. Finally, Wells Fargo & Company MN raised its holdings in shares of Precigen by 12.0% during the 4th quarter. Wells Fargo & Company MN now owns 114,558 shares of the biotechnology company's stock worth $128,000 after buying an additional 12,285 shares in the last quarter. 33.51% of the stock is currently owned by institutional investors.

Precigen Company Profile

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.