Precigen (NASDAQ:PGEN) Stock Price Up 7.9% - Should You Buy?

Precigen, Inc. (NASDAQ:PGEN - Get Free Report)'s stock price rose 7.9% on Monday . The company traded as high as $1.97 and last traded at $1.98. Approximately 1,070,190 shares changed hands during trading, a decline of 27% from the average daily volume of 1,468,327 shares. The stock had previously closed at $1.83.

Analyst Upgrades and Downgrades

PGEN has been the topic of a number of research reports. Wall Street Zen raised Precigen from a "sell" rating to a "hold" rating in a research report on Saturday. HC Wainwright reissued a "buy" rating and issued a $6.00 price target on shares of Precigen in a research report on Thursday, March 20th. Cantor Fitzgerald reissued an "overweight" rating on shares of Precigen in a research report on Thursday, May 15th. Finally, JMP Securities reissued a "market outperform" rating and issued a $6.00 price target on shares of Precigen in a research report on Thursday, June 12th.

Precigen Stock Performance

The firm has a 50 day simple moving average of $1.46 and a 200 day simple moving average of $1.49. The firm has a market cap of $575.60 million, a P/E ratio of -3.48 and a beta of 1.78.

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, 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 during the quarter, compared to the consensus estimate of $0.50 million. Sell-side analysts predict that Precigen, Inc. will post -0.32 EPS for the current fiscal year.

Institutional Investors Weigh In On Precigen

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

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.

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