Precigen (NASDAQ:PGEN) Stock Price Down 3.7% - What's Next?

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 stock price was down 3.7% during trading on Friday . The stock traded as low as $4.01 and last traded at $3.99. Approximately 390,972 shares traded hands during trading, a decline of 90% from the average daily volume of 3,938,008 shares. The stock had previously closed at $4.14.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on PGEN shares. Wall Street Zen upgraded shares of Precigen from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. Citigroup reiterated an "outperform" rating on shares of Precigen in a research note on Tuesday, August 19th. HC Wainwright reiterated a "buy" rating and set a $8.50 price target on shares of Precigen in a research note on Tuesday, August 19th. JMP Securities lifted their price target on shares of Precigen from $6.00 to $8.00 and gave the stock a "market outperform" rating in a research note on Tuesday, August 19th. Finally, JPMorgan Chase & Co. upgraded shares of Precigen from an "underweight" rating to a "neutral" rating in a research note on Friday, August 15th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $8.25.

Precigen Stock Up 0.6%

The firm has a market cap of $1.17 billion, a PE ratio of -9.49 and a beta of 1.82. The company's fifty day moving average price is $2.81 and its two-hundred day moving average price is $1.96.

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

Insider Buying and Selling at Precigen

In other news, Director Nancy H. Agee bought 15,000 shares of the stock in a transaction dated Thursday, September 4th. The shares were acquired at an average price of $4.60 per share, with a total value of $69,000.00. Following the completion of the acquisition, the director directly owned 217,841 shares in the company, valued at approximately $1,002,068.60. The trade was a 7.39% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have bought a total of 41,005 shares of company stock valued at $167,651 over the last quarter. 47.10% of the stock is owned by insiders.

Institutional Trading of Precigen

Institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets purchased a new stake in Precigen during the fourth quarter worth about $27,000. Apella Capital LLC purchased a new stake in Precigen during the first quarter worth about $40,000. Voya Investment Management LLC boosted its holdings in Precigen by 142.9% during the first quarter. Voya Investment Management LLC now owns 36,771 shares of the biotechnology company's stock worth $55,000 after buying an additional 21,633 shares in the last quarter. ProShare Advisors LLC boosted its holdings in Precigen by 26.6% during the fourth quarter. ProShare Advisors LLC now owns 51,822 shares of the biotechnology company's stock worth $58,000 after buying an additional 10,900 shares in the last quarter. Finally, Strs Ohio purchased a new stake in Precigen during the first quarter worth about $70,000. Hedge funds and other institutional investors 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.