Precigen (NASDAQ:PGEN) Trading Down 5.6% - Here's Why

Key Points

• Precigen shares fell 5.6% to about $3.94 in mid-day trading on Tuesday with volume of 1.82M shares (down ~60% vs. the average session volume).
• Analyst stance is mixed but cautious: the stock has an average MarketBeat rating of "Hold" with an average target of $9.50, though several firms recently raised targets (HC Wainwright to $10, Citizens JMP to $9) and four analysts rate it a Buy.
• Recent results and insider activity stand out: Precigen reported Q EPS of ($0.01) beating estimates but revenue missed ($4.57M vs. $8.29M expected), and director Randal J. Kirk sold 4.77M shares, cutting his position by ~94% while insiders still own 47.1% of the stock.

Precigen, Inc. (NASDAQ:PGEN - Get Free Report)'s stock price fell 5.6% during mid-day trading on Tuesday . The stock traded as low as $3.91 and last traded at $3.9350. 1,820,932 shares were traded during trading, a decline of 60% from the average session volume of 4,566,881 shares. The stock had previously closed at $4.17.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. HC Wainwright increased their price target on Precigen from $9.00 to $10.00 and gave the stock a "buy" rating in a research report on Thursday, March 26th. Weiss Ratings restated a "sell (d-)" rating on shares of Precigen in a research report on Thursday, January 22nd. Zacks Research upgraded Precigen from a "strong sell" rating to a "hold" rating in a research report on Tuesday, March 10th. Wall Street Zen upgraded Precigen from a "sell" rating to a "hold" rating in a report on Saturday, March 28th. Finally, Citizens Jmp increased their target price on Precigen from $8.00 to $9.00 and gave the company a "market outperform" rating in a report on Thursday, March 26th. Four analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $9.50.

Precigen Price Performance

The company has a debt-to-equity ratio of 4.46, a quick ratio of 2.83 and a current ratio of 3.09. The stock has a market cap of $1.41 billion, a price-to-earnings ratio of -2.97 and a beta of 1.12. The business's fifty day simple moving average is $3.95 and its 200 day simple moving average is $3.99.

Precigen (NASDAQ:PGEN - Get Free Report) last issued its earnings results on Wednesday, March 25th. The biotechnology company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.10) by $0.09. Precigen had a negative net margin of 2,588.21% and a positive return on equity of 2,317.96%. The business had revenue of $4.57 million for the quarter, compared to analyst estimates of $8.29 million. Research analysts predict that Precigen, Inc. will post -0.32 EPS for the current fiscal year.

Insider Buying and Selling at Precigen

In other news, Director Randal J. Kirk sold 4,772,781 shares of Precigen stock in a transaction dated Monday, March 30th. The shares were sold at an average price of $3.30, for a total transaction of $15,750,177.30. Following the sale, the director directly owned 302,213 shares in the company, valued at approximately $997,302.90. The trade was a 94.05% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 47.10% of the company's stock.

Institutional Investors Weigh In On Precigen

Several hedge funds have recently bought and sold shares of PGEN. AQR Capital Management LLC grew its position in shares of Precigen by 216.9% in the 1st quarter. AQR Capital Management LLC now owns 63,179 shares of the biotechnology company's stock valued at $94,000 after acquiring an additional 43,245 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Precigen by 12.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 81,610 shares of the biotechnology company's stock valued at $122,000 after buying an additional 9,043 shares in the last quarter. Strs Ohio bought a new stake in shares of Precigen in the 1st quarter valued at $70,000. Geode Capital Management LLC lifted its position in shares of Precigen by 7.7% during the 2nd quarter. Geode Capital Management LLC now owns 3,749,182 shares of the biotechnology company's stock valued at $5,325,000 after acquiring an additional 269,580 shares during the period. Finally, Creative Planning raised its holdings in shares of Precigen by 127.8% in the second quarter. Creative Planning now owns 94,291 shares of the biotechnology company's stock valued at $134,000 after purchasing an additional 52,901 shares during the last quarter. 33.51% of the stock is currently owned by institutional investors and hedge funds.

Precigen Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.