Precigen (NASDAQ:PGEN) Trading 7.8% Higher - Still a Buy?

Key Points

• Precigen's stock price increased by 7.8%, reaching $4.86 during trading on Tuesday, despite a significant decline in trading volume compared to its average.
• Analysts maintain a positive outlook, with a consensus rating of "Moderate Buy" and a target price of $8.25 following recent upgrades from several firms.
• The company recently reported earnings of ($0.11) per share, which was better than the expected ($0.14), with quarterly revenue exceeding estimates at $0.86 million.

Shares of Precigen, Inc. (NASDAQ:PGEN - Get Free Report) were up 7.8% during trading on Tuesday . The stock traded as high as $4.77 and last traded at $4.86. Approximately 1,789,188 shares changed hands during trading, a decline of 53% from the average daily volume of 3,811,485 shares. The stock had previously closed at $4.51.

Analysts Set New Price Targets

Several equities analysts recently commented on PGEN shares. Wall Street Zen raised shares of Precigen from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Citigroup reaffirmed an "outperform" rating on shares of Precigen in a report on Tuesday, August 19th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Precigen in a report on Thursday, May 15th. JPMorgan Chase & Co. raised shares of Precigen from an "underweight" rating to a "neutral" rating in a report on Friday, August 15th. Finally, JMP Securities raised their price target on shares of Precigen from $6.00 to $8.00 and gave the stock a "market outperform" rating in a report on Tuesday, August 19th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Precigen presently has a consensus rating of "Moderate Buy" and an average target price of $8.25.

Precigen Stock Performance

The company's 50-day moving average price is $2.48 and its 200 day moving average price is $1.85. The stock has a market capitalization of $1.30 billion, a PE ratio of -10.38 and a beta of 1.82.

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

Insider Activity at Precigen

In related news, Director Nancy H. Agee bought 15,000 shares of the company's stock in a transaction dated Thursday, September 4th. The stock was purchased at an average cost of $4.60 per share, with a total value of $69,000.00. Following the transaction, the director owned 217,841 shares in the company, valued at approximately $1,002,068.60. This trade represents a 7.39% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last three months, insiders have bought 41,005 shares of company stock valued at $167,651. Company insiders own 47.10% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of PGEN. BNP Paribas Financial Markets purchased a new position in Precigen during the 4th quarter valued at about $27,000. Envestnet Asset Management Inc. lifted its position in Precigen by 29.0% during the 4th quarter. Envestnet Asset Management Inc. now owns 26,343 shares of the biotechnology company's stock valued at $30,000 after acquiring an additional 5,915 shares during the period. Apella Capital LLC purchased a new position in Precigen in the first quarter worth about $40,000. Voya Investment Management LLC raised its holdings in Precigen by 142.9% in 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 during the last quarter. Finally, ProShare Advisors LLC raised its holdings in Precigen by 26.6% in 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 during the last quarter. 33.51% of the stock is owned by hedge funds and other institutional investors.

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.