Precigen (NASDAQ:PGEN) Share Price Crosses Below 200-Day Moving Average - What's Next?

Key Points

• Precigen shares fell below their 200-day moving average, trading as low as $3.51 and last changing hands at $3.57, signaling weakness in the stock’s recent technical trend.
• Analyst views are mixed but lean cautious: the company’s consensus rating is currently Hold, even though some firms raised price targets, including Citizens JMP to $11 and HC Wainwright to $14. The average price target stands at $12.50.
• Precigen’s latest earnings beat expectations, reporting a loss of $0.02 per share versus the expected $0.03 loss and revenue of $23.25 million, while executives also sold shares in late May to cover tax withholding obligations.

Precigen, Inc. (NASDAQ:PGEN - Get Free Report)'s stock price crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $4.07 and traded as low as $3.51. Precigen shares last traded at $3.57, with a volume of 4,630,099 shares.

Analysts Set New Price Targets

PGEN has been the topic of several research reports. Citizens Jmp upped their price objective on shares of Precigen from $9.00 to $11.00 and gave the stock a "market outperform" rating in a report on Thursday, May 14th. Zacks Research upgraded shares of Precigen from a "strong sell" rating to a "hold" rating in a report on Tuesday, March 10th. Wall Street Zen downgraded shares of Precigen from a "buy" rating to a "hold" rating in a report on Sunday, May 31st. Weiss Ratings restated a "sell (d-)" rating on shares of Precigen in a report on Tuesday, April 21st. Finally, HC Wainwright upped their price objective on shares of Precigen from $11.00 to $14.00 and gave the stock a "buy" rating in a report on Thursday, May 28th. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Precigen currently has a consensus rating of "Hold" and an average price target of $12.50.

Precigen Stock Performance

The company has a debt-to-equity ratio of 4.62, a current ratio of 4.82 and a quick ratio of 4.12. The company's fifty day simple moving average is $4.08 and its two-hundred day simple moving average is $4.07. The stock has a market cap of $1.27 billion, a price-to-earnings ratio of -3.03 and a beta of 1.06.

Precigen (NASDAQ:PGEN - Get Free Report) last released its quarterly earnings data on Wednesday, May 13th. The biotechnology company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.01. Precigen had a negative net margin of 646.99% and a positive return on equity of 717.50%. The firm had revenue of $23.25 million for the quarter, compared to the consensus estimate of $20.81 million. On average, analysts forecast that Precigen, Inc. will post -0.02 earnings per share for the current year.

Insider Transactions at Precigen

In other news, CEO Helen Sabzevari sold 119,250 shares of the company's stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $4.36, for a total value of $519,930.00. Following the completion of the sale, the chief executive officer owned 3,768,872 shares in the company, valued at $16,432,281.92. This represents a 3.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Harry Jr. Thomasian sold 41,884 shares of the company's stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $4.36, for a total transaction of $182,614.24. Following the completion of the sale, the chief financial officer owned 554,535 shares of the company's stock, valued at approximately $2,417,772.60. The trade was a 7.02% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 5,005,749 shares of company stock worth $16,765,918. 47.10% of the stock is owned by insiders.

Institutional Trading of Precigen

Several institutional investors have recently made changes to their positions in the company. Xponance LLC grew its stake in shares of Precigen by 21.3% in the 4th quarter. Xponance LLC now owns 14,191 shares of the biotechnology company's stock worth $59,000 after acquiring an additional 2,496 shares in the last quarter. BNP Paribas Financial Markets grew its position in Precigen by 6.1% during the third quarter. BNP Paribas Financial Markets now owns 51,796 shares of the biotechnology company's stock valued at $170,000 after buying an additional 2,993 shares during the period. Composition Wealth LLC grew its position in Precigen by 16.5% during the fourth quarter. Composition Wealth LLC now owns 21,217 shares of the biotechnology company's stock valued at $89,000 after buying an additional 3,000 shares during the period. Intech Investment Management LLC grew its position in Precigen by 5.2% during the fourth quarter. Intech Investment Management LLC now owns 63,018 shares of the biotechnology company's stock valued at $263,000 after buying an additional 3,137 shares during the period. Finally, Cetera Investment Advisers grew its position in Precigen by 0.9% during the first quarter. Cetera Investment Advisers now owns 374,514 shares of the biotechnology company's stock valued at $1,449,000 after buying an additional 3,250 shares during the period. Institutional investors own 33.51% of the company's stock.

About Precigen

Precigen, Inc NASDAQ: PGEN is a biotechnology company focused on the discovery, development and commercialization of genetic medicines. The company leverages proprietary gene and cell therapy platforms to design targeted therapies for oncology, infectious diseases and rare conditions. Precigen's approach combines synthetic biology, immuno-oncology and microbiome engineering to create precision treatments intended to enhance efficacy while minimizing off-target effects.

The centerpiece of Precigen's technology is its OmniCAR platform, which enables the rapid generation of adaptable chimeric antigen receptor (CAR) T-cell products.

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