Precigen (NASDAQ:PGEN) Stock Crosses Below 200 Day Moving Average - Here's Why

Key Points

• Precigen crossed below its 200-day moving average of $4.06, trading as low as $4.03 and last quoted at $4.14 on about 2.28 million shares.
• Director Randal J. Kirk sold 4,772,781 shares at roughly $3.30 on March 30, raising ~$15.75 million and cutting his stake by 94%, while insiders still own 47.10% of the company.
• Analysts are mixed — four Buy, two Hold and one Sell — giving Precigen an average "Hold" rating and an average price target of $9.50.

Precigen, Inc. (NASDAQ:PGEN - Get Free Report) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $4.06 and traded as low as $4.03. Precigen shares last traded at $4.14, with a volume of 2,279,215 shares traded.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PGEN. Wall Street Zen raised shares of Precigen from a "sell" rating to a "hold" rating in a research note on Saturday, March 28th. HC Wainwright raised their price objective on shares of Precigen from $9.00 to $10.00 and gave the stock a "buy" rating in a research note on Thursday, March 26th. Zacks Research raised shares of Precigen from a "strong sell" rating to a "hold" rating in a research note on Tuesday, March 10th. Citizens Jmp raised their price objective on shares of Precigen from $8.00 to $9.00 and gave the stock a "market outperform" rating in a research note on Thursday, March 26th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Precigen in a research note on Tuesday, April 21st. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Precigen has an average rating of "Hold" and an average target price of $9.50.

Precigen Stock Up 1.5%

The company has a debt-to-equity ratio of 4.46, a current ratio of 3.09 and a quick ratio of 2.83. The stock has a market cap of $1.48 billion, a PE ratio of -3.09 and a beta of 1.07. The business has a fifty day moving average of $3.77 and a 200-day moving average of $4.06.

Precigen (NASDAQ:PGEN - Get Free Report) last announced its quarterly earnings results on Wednesday, March 25th. The biotechnology company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.10) by $0.09. The firm had revenue of $4.57 million during the quarter, compared to analyst estimates of $8.29 million. Precigen had a positive return on equity of 2,317.96% and a negative net margin of 2,588.21%. Equities research analysts anticipate that Precigen, Inc. will post 0.02 earnings per share for the current year.

Insider Activity

In related news, Director Randal J. Kirk sold 4,772,781 shares of the business's stock in a transaction that occurred on Monday, March 30th. The stock was sold at an average price of $3.30, for a total value of $15,750,177.30. Following the completion of the sale, the director owned 302,213 shares in the company, valued at approximately $997,302.90. The trade was a 94.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 47.10% of the company's stock.

Institutional Trading of Precigen

A number of large investors have recently modified their holdings of PGEN. AQR Capital Management LLC boosted its holdings in shares of Precigen by 216.9% in the first quarter. AQR Capital Management LLC now owns 63,179 shares of the biotechnology company's stock valued at $94,000 after purchasing an additional 43,245 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Precigen by 12.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 81,610 shares of the biotechnology company's stock valued at $122,000 after purchasing an additional 9,043 shares during the period. Strs Ohio purchased a new stake in shares of Precigen in the first quarter valued at approximately $70,000. Geode Capital Management LLC increased its holdings in Precigen by 7.7% during the second quarter. Geode Capital Management LLC now owns 3,749,182 shares of the biotechnology company's stock valued at $5,325,000 after buying an additional 269,580 shares during the period. Finally, Creative Planning raised its stake in Precigen by 127.8% in the second quarter. Creative Planning now owns 94,291 shares of the biotechnology company's stock worth $134,000 after buying an additional 52,901 shares in the last quarter. Hedge funds and other institutional investors own 33.51% of the company's stock.

Precigen Company Profile

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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