Precigen (NASDAQ:PGEN) Trading 5.6% Higher - Still a Buy?

Key Points

• Precigen's stock rose 5.6% to $3.32, despite a 51% decline in trading volume compared to its average.
• Analysts hold a consensus rating of "Moderate Buy" for Precigen, with a price target of $8.25, following several upgrades.
• Insider activity included CFO Harry Jr. Thomasian purchasing shares, while Director Jeffrey B. Kindler sold a significant amount, indicating mixed insider sentiment.

Precigen, Inc. (NASDAQ:PGEN - Get Free Report) traded up 5.6% on Tuesday . The company traded as high as $3.30 and last traded at $3.32. 2,029,029 shares were traded during trading, a decline of 51% from the average session volume of 4,135,511 shares. The stock had previously closed at $3.14.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. HC Wainwright reissued a "buy" rating and set a $8.50 price objective on shares of Precigen in a report on Tuesday, August 19th. Citigroup reaffirmed an "outperform" rating on shares of Precigen in a research note on Tuesday, August 19th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Precigen in a research note on Saturday, September 27th. JPMorgan Chase & Co. raised Precigen from an "underweight" rating to a "neutral" rating in a research note on Friday, August 15th. Finally, JMP Securities lifted their price target on Precigen from $6.00 to $8.00 and gave the stock a "market outperform" rating in a research note on Tuesday, August 19th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Precigen currently has an average rating of "Moderate Buy" and a consensus target price of $8.25.

Precigen Price Performance

The stock has a market capitalization of $990.75 million, a PE ratio of -7.92 and a beta of 1.61. The company has a 50 day moving average price of $3.31 and a 200-day moving average price of $2.13.

Precigen (NASDAQ:PGEN - Get Free Report) last posted its earnings results on Tuesday, August 12th. The biotechnology company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.03. Precigen had a negative return on equity of 842.83% and a negative net margin of 2,868.66%.The firm had revenue of $0.86 million for the quarter, compared to analysts' expectations of $0.67 million. As a group, equities analysts anticipate that Precigen, Inc. will post -0.32 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Harry Jr. Thomasian purchased 8,284 shares of the company's stock in a transaction that occurred on Thursday, September 25th. The shares were bought at an average cost of $3.62 per share, for a total transaction of $29,988.08. Following the completion of the transaction, the chief financial officer directly owned 465,694 shares of the company's stock, valued at $1,685,812.28. This trade represents a 1.81% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jeffrey B. Kindler sold 106,837 shares of Precigen stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $3.38, for a total value of $361,109.06. Following the sale, the director owned 346,070 shares in the company, valued at $1,169,716.60. This represents a 23.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders bought 54,221 shares of company stock valued at $214,467 and sold 6,984,279 shares valued at $25,428,688. Company insiders own 47.10% of the company's stock.

Institutional Investors Weigh In On Precigen

Hedge funds have recently added to or reduced their stakes in the stock. Voya Investment Management LLC boosted its holdings in Precigen by 142.9% in the first quarter. Voya Investment Management LLC now owns 36,771 shares of the biotechnology company's stock worth $55,000 after acquiring an additional 21,633 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in Precigen by 134.7% in the second quarter. BNP Paribas Financial Markets now owns 48,803 shares of the biotechnology company's stock worth $69,000 after acquiring an additional 28,005 shares in the last quarter. Strs Ohio bought a new stake in Precigen in the first quarter worth $70,000. Headlands Technologies LLC bought a new stake in Precigen in the first quarter worth $87,000. Finally, Invesco Ltd. boosted its holdings in Precigen by 43.7% in the second quarter. Invesco Ltd. now owns 62,955 shares of the biotechnology company's stock worth $89,000 after acquiring an additional 19,149 shares in the last quarter. 33.51% of the stock is 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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