Precigen (NASDAQ:PGEN) Shares Up 10.9% - Should You Buy?

Precigen, Inc. (NASDAQ:PGEN - Get Free Report)'s stock price traded up 10.9% on Wednesday . The company traded as high as $1.70 and last traded at $1.69. 2,525,199 shares traded hands during trading, an increase of 66% from the average session volume of 1,520,873 shares. The stock had previously closed at $1.52.

Wall Street Analysts Forecast Growth

PGEN has been the subject of a number of research analyst reports. Cantor Fitzgerald reissued an "overweight" rating on shares of Precigen in a report on Thursday, May 15th. Wall Street Zen raised Precigen from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $6.00 price target on shares of Precigen in a research report on Thursday, June 12th.

Precigen Trading Up 0.3%

The firm has a 50-day moving average of $1.53 and a 200 day moving average of $1.53. The company has a market cap of $473.76 million, a P/E ratio of -2.87 and a beta of 1.78.

Precigen (NASDAQ:PGEN - Get Free Report) last announced its quarterly earnings results on Wednesday, May 14th. The biotechnology company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.01. The business had revenue of $1.34 million for the quarter, compared to analyst estimates 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, equities analysts predict that Precigen, Inc. will post -0.32 EPS for the current year.

Institutional Trading of Precigen

Institutional investors and hedge funds have recently modified their holdings of the business. BNP Paribas Financial Markets purchased a new position in shares of Precigen in the fourth quarter valued at $27,000. Envestnet Asset Management Inc. lifted its stake in shares of Precigen by 29.0% in the 4th quarter. Envestnet Asset Management Inc. now owns 26,343 shares of the biotechnology company's stock valued at $30,000 after acquiring an additional 5,915 shares during the last quarter. Apella Capital LLC bought a new stake in shares of Precigen in the 1st quarter valued at about $40,000. Boothbay Fund Management LLC bought a new stake in shares of Precigen in the 4th quarter valued at about $35,000. Finally, Voya Investment Management LLC raised its position 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 during the last quarter. 33.51% of the stock is owned by hedge funds and other institutional investors.

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.