Precigen (NASDAQ:PGEN) Trading Down 6.1% - Time to Sell?

Key Points

• Precigen's stock price dropped by 6.1%, closing at $3.63, with trading volume significantly down to 747,220 shares compared to its average of over 4 million shares.
• A number of analysts have recently upgraded Precigen, resulting in a consensus rating of "Moderate Buy" and an average price target of $8.25.
• Insider activity includes a substantial sale by Director Randal J. Kirk of over 3.5 million shares, highlighting significant changes in ownership stakes within the company.

Precigen, Inc. (NASDAQ:PGEN - Get Free Report)'s stock price fell 6.1% on Thursday . The stock traded as low as $3.63 and last traded at $3.63. 747,220 shares were traded during trading, a decline of 82% from the average session volume of 4,103,025 shares. The stock had previously closed at $3.86.

Analyst Ratings Changes

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

Precigen Price Performance

The company has a 50 day moving average of $3.04 and a 200-day moving average of $2.04. The company has a market cap of $1.05 billion, a P/E ratio of -8.39 and a beta of 1.82.

Precigen (NASDAQ:PGEN - Get Free Report) last issued its quarterly earnings results on Tuesday, August 12th. The biotechnology company reported ($0.11) earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $0.67 million. Research analysts anticipate that Precigen, Inc. will post -0.32 EPS for the current year.

Insider Transactions at Precigen

In related news, Director Randal J. Kirk sold 3,596,892 shares of Precigen stock in a transaction on Friday, September 19th. The shares were sold at an average price of $3.68, for a total value of $13,236,562.56. Following the sale, the director owned 8,520,537 shares in the company, valued at $31,355,576.16. The trade was a 29.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Nancy H. Agee bought 15,360 shares of Precigen stock in a transaction 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 acquisition, the director directly owned 192,196 shares in the company, valued at approximately $615,027.20. This trade represents a 8.69% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 41,005 shares of company stock worth $167,651. 47.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Precigen

Institutional investors have recently modified their holdings of the business. Inspire Investing LLC purchased a new position in shares of Precigen in the 1st quarter worth $350,000. MetLife Investment Management LLC purchased a new stake in Precigen in the first quarter worth about $124,000. Adage Capital Partners GP L.L.C. raised its stake in Precigen by 3.8% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 11,276,000 shares of the biotechnology company's stock worth $16,801,000 after acquiring an additional 410,595 shares during the period. Nuveen LLC purchased a new stake in Precigen in the 1st quarter worth $275,000. Finally, Parkman Healthcare Partners LLC bought a new stake in Precigen during the 1st quarter valued at approximately $4,755,000. 33.51% of the stock is owned by hedge funds and other 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.