Precigen (NASDAQ:PGEN) Stock Price Passes Above 50 Day Moving Average - Here's What Happened

Precigen, Inc. (NASDAQ:PGEN - Get Free Report) shares passed 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 trading hands.

Wall Street Analyst Weigh In

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

Precigen Trading Down 0.7%

The company has a market cap of $419.16 million, a PE ratio of -2.54 and a beta of 1.84. The firm has a 50 day moving average of $1.44 and a two-hundred day moving average of $1.41.

Precigen (NASDAQ:PGEN - Get Free Report) last released its earnings results on Wednesday, May 14th. The biotechnology company reported ($0.07) EPS for the quarter, topping the consensus estimate 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 business had revenue of $1.34 million for the quarter, compared to the consensus estimate of $0.50 million. On average, research analysts forecast that Precigen, Inc. will post -0.32 EPS for the current year.

Hedge Funds Weigh In On Precigen

Hedge funds have recently bought and sold shares of the company. Voya Investment Management LLC increased its stake in Precigen by 142.9% during the 1st quarter. Voya Investment Management LLC now owns 36,771 shares of the biotechnology company's stock valued at $55,000 after purchasing an additional 21,633 shares in the last quarter. Inspire Investing LLC purchased a new stake in shares of Precigen during the first quarter valued at approximately $350,000. Strs Ohio bought a new stake in shares of Precigen during the first quarter valued at approximately $70,000. Parkman Healthcare Partners LLC purchased a new position in Precigen in the 1st quarter worth approximately $4,755,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Precigen by 12.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 81,610 shares of the biotechnology company's stock valued at $122,000 after acquiring an additional 9,043 shares in the last quarter. 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.