Precigen (NASDAQ:PGEN) Trading Down 3.7% - Should You Sell?

Key Points

• Precigen's stock (NASDAQ:PGEN) fell 3.7% to $3.99 during mid-day trading on Friday, with a trading volume drop of 90% compared to its average.
• Despite the recent decline, several analysts maintain a positive outlook, with an average target price of $8.25 and a rating of "Moderate Buy."
• Insider transactions indicate confidence, as Director Nancy H. Agee purchased 15,360 shares at $3.20 each, boosting her ownership by 8.69%.

Precigen, Inc. (NASDAQ:PGEN - Get Free Report)'s share price was down 3.7% during mid-day trading on Friday . The stock traded as low as $4.01 and last traded at $3.99. Approximately 390,972 shares were traded during trading, a decline of 90% from the average daily volume of 3,938,008 shares. The stock had previously closed at $4.14.

Analyst Ratings Changes

Several equities research analysts have issued reports on PGEN shares. HC Wainwright reaffirmed a "buy" rating and set a $8.50 price target on shares of Precigen in a research note on Tuesday, August 19th. Citigroup reissued an "outperform" rating on shares of Precigen in a research report on Tuesday, August 19th. Wall Street Zen raised shares of Precigen from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. JMP Securities raised their target price on shares of Precigen from $6.00 to $8.00 and gave the stock a "market outperform" rating in a research report on Tuesday, August 19th. Finally, Cantor Fitzgerald reissued an "overweight" rating on shares of Precigen in a research report on Thursday, May 15th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Precigen presently has an average rating of "Moderate Buy" and an average target price of $8.25.

Precigen Stock Down 7.6%

The company's fifty day moving average is $2.68 and its 200 day moving average is $1.91. The stock has a market cap of $1.14 billion, a PE ratio of -9.13 and a beta of 1.82.

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

Insider Buying and Selling

In other Precigen news, Director Nancy H. Agee purchased 15,360 shares of the business's stock in a transaction that occurred on Tuesday, August 19th. The shares were purchased at an average price of $3.20 per share, for a total transaction of $49,152.00. Following the completion of the acquisition, the director owned 192,196 shares of the company's stock, valued at approximately $615,027.20. This represents a 8.69% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have purchased a total of 41,005 shares of company stock valued at $167,651 in the last 90 days. Company insiders own 47.10% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets purchased a new position in Precigen in the fourth quarter valued at approximately $27,000. Apella Capital LLC purchased a new stake in shares of Precigen during the first quarter valued at approximately $40,000. Voya Investment Management LLC raised its stake in shares of Precigen by 142.9% during the first 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 period. ProShare Advisors LLC raised its stake in shares of Precigen by 26.6% during the fourth quarter. ProShare Advisors LLC now owns 51,822 shares of the biotechnology company's stock valued at $58,000 after purchasing an additional 10,900 shares during the period. Finally, Strs Ohio purchased a new stake in shares of Precigen during the first quarter valued at approximately $70,000. Hedge funds and other institutional investors own 33.51% of the company's stock.

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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