Precigen (NASDAQ:PGEN) Stock Price Crosses Above 50 Day Moving Average - Time to Sell?

Precigen, Inc. (NASDAQ:PGEN - Get Free Report)'s stock price passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $1.44 and traded as high as $1.70. Precigen shares last traded at $1.61, with a volume of 3,913,660 shares changing hands.

Analyst Upgrades and Downgrades

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

Precigen Stock Performance

The business's 50 day moving average price is $1.44 and its 200-day moving average price is $1.44. The firm has a market cap of $479.67 million, a price-to-earnings ratio of -2.90 and a beta of 1.78.

Precigen (NASDAQ:PGEN - Get Free Report) last announced its quarterly earnings data on Wednesday, May 14th. The biotechnology company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.01. The firm had revenue of $1.34 million for the quarter, compared to analysts' expectations 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, analysts forecast that Precigen, Inc. will post -0.32 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Precigen

Hedge funds have recently added to or reduced their stakes in the business. Parkman Healthcare Partners LLC acquired a new stake in shares of Precigen during the first quarter worth $4,755,000. Adage Capital Partners GP L.L.C. raised its stake 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 worth $16,801,000 after acquiring an additional 410,595 shares during the period. Inspire Investing LLC bought a new position in Precigen in the first quarter worth about $350,000. Nuveen LLC acquired a new position in Precigen in the first quarter valued at approximately $275,000. Finally, Mill Creek Capital Advisors LLC grew its holdings in shares of Precigen by 131.8% during the first quarter. Mill Creek Capital Advisors LLC now owns 255,000 shares of the biotechnology company's stock valued at $380,000 after purchasing an additional 145,000 shares during the last quarter. Institutional investors and hedge funds 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.