Shares of Precigen, Inc. (NASDAQ:PGEN - Get Free Report) shot up 9.9% during mid-day trading on Wednesday . The stock traded as high as $3.53 and last traded at $3.52. 4,341,053 shares changed hands during mid-day trading, an increase of 4% from the average session volume of 4,176,781 shares. The stock had previously closed at $3.20.
Analysts Set New Price Targets
PGEN has been the subject of several recent analyst reports. Wall Street Zen upgraded Precigen from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Precigen in a research report on Wednesday, October 8th. Citigroup reissued an "outperform" rating on shares of Precigen in a research report on Tuesday, August 19th. JMP Securities upped their price target on shares of Precigen from $6.00 to $8.00 and gave the company a "market outperform" rating in a report on Tuesday, August 19th. Finally, HC Wainwright reissued a "buy" rating and set a $8.50 target price on shares of Precigen in a research note on Tuesday, August 19th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $8.25.
Read Our Latest Research Report on PGEN
Precigen Trading Up 10.3%
The stock's fifty day moving average price is $3.49 and its 200-day moving average price is $2.19. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of -8.40 and a beta of 1.61.
Precigen (NASDAQ:PGEN - Get Free Report) last posted 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. 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 the consensus estimate of $0.67 million. Analysts predict that Precigen, Inc. will post -0.32 earnings per share for the current year.
Insider Activity at Precigen
In other Precigen news, Director Randal J. Kirk sold 1,809,667 shares of Precigen stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $3.41, for a total value of $6,170,964.47. Following the transaction, the director directly owned 14,597,161 shares in the company, valued at approximately $49,776,319.01. The trade was a 11.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jeffrey B. Kindler sold 106,837 shares of Precigen stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $3.38, for a total transaction of $361,109.06. Following the completion of the transaction, the director owned 346,070 shares in the company, valued at approximately $1,169,716.60. This represents a 23.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders bought 54,221 shares of company stock valued at $214,467 and sold 6,984,279 shares valued at $25,428,688. Insiders own 47.10% of the company's stock.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of the business. Vontobel Holding Ltd. acquired a new position in shares of Precigen during the third quarter worth about $48,000. Flower City Capital acquired a new position in shares of Precigen during the third quarter worth about $66,000. Voya Investment Management LLC increased its stake in shares of 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 acquiring an additional 21,633 shares during the period. Strs Ohio acquired a new position in Precigen during the first quarter worth about $70,000. Finally, BNP Paribas Financial Markets grew its position in Precigen by 134.7% during the second quarter. BNP Paribas Financial Markets now owns 48,803 shares of the biotechnology company's stock worth $69,000 after buying an additional 28,005 shares during the period. 33.51% of the stock is currently owned by institutional investors and hedge funds.
About Precigen
(
Get Free Report)
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.
Further Reading
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