Precigen (NASDAQ:PGEN) Shares Pass Below 200 Day Moving Average - Time to Sell?

Precigen, Inc. (NASDAQ:PGEN - Get Free Report)'s share price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.52 and traded as low as $1.47. Precigen shares last traded at $1.52, with a volume of 9,207,486 shares traded.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on PGEN shares. Cantor Fitzgerald reissued an "overweight" rating on shares of Precigen in a research note on Thursday, May 15th. JMP Securities reaffirmed a "market outperform" rating and set a $6.00 price objective on shares of Precigen in a report on Thursday, June 12th. Finally, Wall Street Zen raised Precigen from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th.

Precigen Price Performance

The company has a market cap of $463.43 million, a PE ratio of -2.80 and a beta of 1.78. The firm has a 50-day simple moving average of $1.54 and a two-hundred day simple moving average of $1.53.

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

Institutional Investors Weigh In On Precigen

Hedge funds and other institutional investors have recently made changes to their positions in the business. Adage Capital Partners GP L.L.C. grew its position in Precigen by 3.8% during the first quarter. Adage Capital Partners GP L.L.C. now owns 11,276,000 shares of the biotechnology company's stock valued at $16,801,000 after acquiring an additional 410,595 shares during the period. Geode Capital Management LLC grew its position in Precigen by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 3,299,851 shares of the biotechnology company's stock valued at $3,696,000 after acquiring an additional 53,343 shares during the period. Parkman Healthcare Partners LLC purchased a new stake in Precigen during the first quarter valued at about $4,755,000. Charles Schwab Investment Management Inc. grew its position in Precigen by 4.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,278,862 shares of the biotechnology company's stock valued at $1,432,000 after acquiring an additional 56,012 shares during the period. Finally, Northern Trust Corp grew its position in Precigen by 11.6% during the fourth quarter. Northern Trust Corp now owns 1,168,689 shares of the biotechnology company's stock valued at $1,309,000 after acquiring an additional 121,700 shares during the period. Hedge funds and other institutional investors 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.