Precigen (NASDAQ:PGEN) Reaches New 12-Month High - What's Next?

Key Points

• Precigen, Inc. (NASDAQ:PGEN) reached a new 52-week high of $4.93, with a significant trading volume of nearly 9.9 million shares and a closing price of $4.76.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Precigen, with price targets ranging up to $8.50 from various brokerages, indicating potential growth opportunity.
• Insider transactions show Director Nancy H. Agee purchased 15,360 shares at $3.20 each, increasing her holdings, and insiders collectively own 47.10% of the company's stock.

Precigen, Inc. (NASDAQ:PGEN - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $4.93 and last traded at $4.76, with a volume of 9867944 shares. The stock had previously closed at $4.51.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PGEN. Wall Street Zen raised shares of Precigen from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. JPMorgan Chase & Co. raised Precigen from an "underweight" rating to a "neutral" rating in a report on Friday, August 15th. HC Wainwright restated a "buy" rating and set a $8.50 price objective on shares of Precigen in a research note on Tuesday, August 19th. Citigroup reaffirmed an "outperform" rating on shares of Precigen in a research report on Tuesday, August 19th. Finally, Cantor Fitzgerald reissued an "overweight" rating on shares of Precigen in a research report on Thursday, May 15th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Precigen currently has an average rating of "Moderate Buy" and a consensus target price of $8.25.

Precigen Price Performance

The stock's fifty day simple moving average is $2.48 and its two-hundred day simple moving average is $1.85. The company has a market capitalization of $1.30 billion, a price-to-earnings ratio of -10.38 and a beta of 1.82.

Precigen (NASDAQ:PGEN - Get Free Report) last announced its quarterly earnings data 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. Precigen had a negative net margin of 2,868.66% and a negative return on equity of 842.83%. The business had revenue of $0.86 million during the quarter, compared to the consensus estimate of $0.67 million. On average, sell-side analysts predict that Precigen, Inc. will post -0.32 EPS for the current year.

Insider Transactions at Precigen

In related news, Director Nancy H. Agee acquired 15,360 shares of Precigen stock in a transaction that occurred on Tuesday, August 19th. The stock was 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 of the company's stock, valued at $615,027.20. This trade represents a 8.69% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders purchased 41,005 shares of company stock worth $167,651. Insiders own 47.10% of the company's stock.

Hedge Funds Weigh In On Precigen

Several hedge funds and other institutional investors have recently modified their holdings of PGEN. Envestnet Asset Management Inc. lifted its position in Precigen by 29.0% in the 4th 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. Rhumbline Advisers raised its holdings in shares of Precigen by 3.7% during the second quarter. Rhumbline Advisers now owns 198,078 shares of the biotechnology company's stock valued at $281,000 after buying an additional 7,041 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Precigen by 12.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 81,610 shares of the biotechnology company's stock worth $122,000 after buying an additional 9,043 shares during the period. ProShare Advisors LLC grew its holdings in Precigen by 26.6% in the 4th quarter. ProShare Advisors LLC now owns 51,822 shares of the biotechnology company's stock worth $58,000 after buying an additional 10,900 shares in the last quarter. Finally, Wells Fargo & Company MN increased its position in Precigen by 12.0% in the 4th quarter. Wells Fargo & Company MN now owns 114,558 shares of the biotechnology company's stock valued at $128,000 after acquiring an additional 12,285 shares during the period. Institutional investors and hedge funds own 33.51% of the company's stock.

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.