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Precigen (NASDAQ:PGEN) Trading Up 6.6% - What's Next?

Precigen logo with Medical background

Precigen, Inc. (NASDAQ:PGEN - Get Free Report) was up 6.6% on Tuesday . The stock traded as high as $1.64 and last traded at $1.70. Approximately 148,440 shares traded hands during trading, a decline of 90% from the average daily volume of 1,416,055 shares. The stock had previously closed at $1.59.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on PGEN shares. 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. Wall Street Zen lowered Precigen from a "hold" rating to a "sell" rating in a report on Saturday, May 24th. Cantor Fitzgerald restated an "overweight" rating on shares of Precigen in a research report on Thursday, May 15th. Finally, HC Wainwright reiterated a "buy" rating and set a $6.00 price objective on shares of Precigen in a research report on Thursday, March 20th.

Read Our Latest Research Report on Precigen

Precigen Trading Down 4.2%

The company has a market capitalization of $540.18 million, a PE ratio of -3.27 and a beta of 1.78. The stock's 50-day moving average is $1.46 and its two-hundred day moving average is $1.48.

Precigen (NASDAQ:PGEN - Get Free Report) last issued its quarterly earnings results on Wednesday, May 14th. The biotechnology company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.08) by $0.01. The firm had revenue of $1.34 million during 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%. On average, equities research analysts forecast that Precigen, Inc. will post -0.32 EPS for the current fiscal year.

Institutional Trading of Precigen

A number of large investors have recently made changes to their positions in PGEN. BNP Paribas Financial Markets bought a new stake in Precigen during the 4th quarter valued at about $27,000. Envestnet Asset Management Inc. increased its position in shares of Precigen by 29.0% during the fourth 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 period. Boothbay Fund Management LLC bought a new stake in shares of Precigen during the fourth quarter valued at approximately $35,000. Apella Capital LLC bought a new stake in shares of Precigen during the first quarter valued at approximately $40,000. Finally, RPO LLC purchased a new stake in shares of Precigen in the fourth quarter valued at approximately $47,000. 33.51% of the stock is owned by hedge funds and other institutional investors.

About Precigen

(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.

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