Precigen (NASDAQ:PGEN) Trading Down 5.5% - What's Next?

Key Points

• Precigen shares fell 5.5% to $6.135, with trading volume near its daily average. The stock’s consensus rating remains “Moderate Buy,” with an average price target of $14.50.
• The biotechnology company reported stronger-than-expected quarterly results, posting $0.05 in EPS versus a $0.01 loss estimate and $54.98 million in revenue, up 6,322.7% year over year.
• Insiders have sold nearly 989,239 shares worth about $5.47 million over the past 90 days, while insiders retain a 41.4% ownership stake and institutional investors own 33.51%.

Precigen, Inc. (NASDAQ:PGEN - Get Free Report)'s share price dropped 5.5% during trading on Friday . The stock traded as low as $6.09 and last traded at $6.1350. 4,476,032 shares changed hands during trading, a decline of 3% from the average daily volume of 4,618,531 shares. The stock had previously closed at $6.49.

Analyst Ratings Changes

PGEN has been the subject of a number of research analyst reports. Zacks Research upgraded Precigen from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 5th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Precigen in a research report on Friday, July 17th. Citigroup reiterated an "outperform" rating on shares of Precigen in a research note on Thursday, May 14th. HC Wainwright boosted their target price on shares of Precigen from $14.00 to $18.00 and gave the company a "buy" rating in a research report on Wednesday, August 5th. Finally, Wall Street Zen upgraded shares of Precigen from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 8th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $14.50.

Precigen Trading Down 5.2%

The company has a debt-to-equity ratio of 2.15, a current ratio of 4.58 and a quick ratio of 3.89. The firm has a fifty day simple moving average of $5.46 and a 200-day simple moving average of $4.56. The firm has a market cap of $2.19 billion, a P/E ratio of -5.92 and a beta of 1.02.

Precigen (NASDAQ:PGEN - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The biotechnology company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.06. Precigen had a positive return on equity of 423.75% and a negative net margin of 183.98%.The firm had revenue of $54.98 million during the quarter, compared to the consensus estimate of $27.98 million. The company's quarterly revenue was up 6322.7% on a year-over-year basis. On average, equities research analysts expect that Precigen, Inc. will post 0.25 earnings per share for the current year.

Insider Buying and Selling at Precigen

In other Precigen news, insider Donald P. Lehr sold 29,131 shares of the company's stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $4.36, for a total transaction of $127,011.16. Following the transaction, the insider owned 755,461 shares in the company, valued at approximately $3,293,809.96. This represents a 3.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Helen Sabzevari sold 346,836 shares of the firm's stock in a transaction on Monday, June 29th. The shares were sold at an average price of $5.89, for a total transaction of $2,042,864.04. Following the completion of the transaction, the chief executive officer directly owned 3,768,872 shares in the company, valued at $22,198,656.08. This trade represents a 8.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 989,239 shares of company stock worth $5,472,960. Company insiders own 41.40% of the company's stock.

Hedge Funds Weigh In On Precigen

Several large investors have recently added to or reduced their stakes in the business. Xponance LLC increased its holdings in Precigen by 21.3% during the 4th quarter. Xponance LLC now owns 14,191 shares of the biotechnology company's stock worth $59,000 after purchasing an additional 2,496 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Precigen by 6.1% in the third quarter. BNP Paribas Financial Markets now owns 51,796 shares of the biotechnology company's stock valued at $170,000 after purchasing an additional 2,993 shares in the last quarter. Composition Wealth LLC boosted its position in shares of Precigen by 16.5% during the fourth quarter. Composition Wealth LLC now owns 21,217 shares of the biotechnology company's stock valued at $89,000 after buying an additional 3,000 shares during the last quarter. Intech Investment Management LLC boosted its position in shares of Precigen by 5.2% during the fourth quarter. Intech Investment Management LLC now owns 63,018 shares of the biotechnology company's stock valued at $263,000 after buying an additional 3,137 shares during the last quarter. Finally, Cetera Investment Advisers grew its holdings in Precigen by 0.9% during the first quarter. Cetera Investment Advisers now owns 374,514 shares of the biotechnology company's stock worth $1,449,000 after buying an additional 3,250 shares in the last quarter. Institutional investors own 33.51% of the company's stock.

About Precigen

Precigen, Inc NASDAQ: PGEN is a biotechnology company focused on the discovery, development and commercialization of genetic medicines. The company leverages proprietary gene and cell therapy platforms to design targeted therapies for oncology, infectious diseases and rare conditions. Precigen's approach combines synthetic biology, immuno-oncology and microbiome engineering to create precision treatments intended to enhance efficacy while minimizing off-target effects.

The centerpiece of Precigen's technology is its OmniCAR platform, which enables the rapid generation of adaptable chimeric antigen receptor (CAR) T-cell products.

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