Precigen (NASDAQ:PGEN) Stock Price Crosses Above 50 Day Moving Average - What's Next?

Precigen, Inc. (NASDAQ:PGEN - Get Free Report)'s share price crossed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $1.43 and traded as high as $1.50. Precigen shares last traded at $1.48, with a volume of 1,280,884 shares.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. HC Wainwright reiterated a "buy" rating and issued a $6.00 target price on shares of Precigen in a report on Thursday, March 20th. Wall Street Zen lowered shares of Precigen from a "hold" rating to a "sell" rating in a research note on Saturday, May 24th. Cantor Fitzgerald restated an "overweight" rating on shares of Precigen in a research note on Thursday, May 15th. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $6.00 price target on shares of Precigen in a report on Thursday, June 12th.

Precigen Stock Performance

The stock's 50 day simple moving average is $1.44 and its 200-day simple moving average is $1.40. The firm has a market cap of $420.63 million, a price-to-earnings ratio of -2.54 and a beta of 1.84.

Precigen (NASDAQ:PGEN - Get Free Report) last issued its earnings results on Wednesday, May 14th. The biotechnology company reported ($0.07) EPS for the quarter, beating analysts' consensus estimates of ($0.08) by $0.01. Precigen had a negative return on equity of 279.20% and a negative net margin of 3,728.87%. The firm had revenue of $1.34 million for the quarter, compared to analyst estimates of $0.50 million. On average, analysts expect that Precigen, Inc. will post -0.32 EPS for the current fiscal year.

Institutional Trading of Precigen

Hedge funds have recently modified their holdings of the stock. Parkman Healthcare Partners LLC acquired a new position in shares of Precigen in the first quarter worth about $4,755,000. Adage Capital Partners GP L.L.C. raised its holdings in shares of 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 last quarter. Inspire Investing LLC acquired a new position in shares of Precigen during the first quarter valued at approximately $350,000. Nuveen LLC purchased a new position in shares of Precigen in the first quarter valued at approximately $275,000. Finally, Mill Creek Capital Advisors LLC boosted its stake in shares of Precigen by 131.8% in the first quarter. Mill Creek Capital Advisors LLC now owns 255,000 shares of the biotechnology company's stock worth $380,000 after acquiring an additional 145,000 shares during the last quarter. Hedge funds and other institutional investors 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.