Precigen (NASDAQ:PGEN) Director Randal J. Kirk Sells 1,403,360 Shares

Key Points

• Director Randal Kirk sold 1,403,360 shares of Precigen stock for a total of approximately $5.42 million, reducing his position by 10.38%.
• Following the sale, Kirk retains 12,117,429 shares, valued near $46.77 million.
• Precigen's stock has underperformed recently, trading down 1.3% to $3.75 with analysts giving it a consensus rating of "Moderate Buy" and a target price of $8.25.

Precigen, Inc. (NASDAQ:PGEN - Get Free Report) Director Randal J. Kirk sold 1,403,360 shares of the company's stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $3.86, for a total value of $5,416,969.60. Following the sale, the director owned 12,117,429 shares in the company, valued at approximately $46,773,275.94. This trade represents a 10.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Precigen Stock Performance

Shares of NASDAQ:PGEN traded down $0.05 on Friday, hitting $3.75. 13,340,631 shares of the company's stock were exchanged, compared to its average volume of 8,079,519. Precigen, Inc. has a 1-year low of $0.65 and a 1-year high of $5.22. The company has a market capitalization of $1.12 billion, a PE ratio of -8.93 and a beta of 1.82. The firm's 50-day moving average is $2.93 and its 200 day moving average is $2.00.

Precigen (NASDAQ:PGEN - Get Free Report) last issued its earnings results on Tuesday, August 12th. The biotechnology company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.14) by $0.03. The business had revenue of $0.86 million during the quarter, compared to the consensus estimate of $0.67 million. Precigen had a negative return on equity of 842.83% and a negative net margin of 2,868.66%. On average, analysts anticipate that Precigen, Inc. will post -0.32 EPS for the current fiscal year.

Institutional Trading of Precigen

Several hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets bought a new position in shares of Precigen during the 4th quarter worth approximately $27,000. Apella Capital LLC acquired a new stake in shares of Precigen in the 1st quarter valued at $40,000. Voya Investment Management LLC increased its stake in shares of Precigen by 142.9% in the 1st quarter. Voya Investment Management LLC now owns 36,771 shares of the biotechnology company's stock valued at $55,000 after buying an additional 21,633 shares during the period. ProShare Advisors LLC increased its stake in shares of Precigen by 26.6% in the 4th quarter. ProShare Advisors LLC now owns 51,822 shares of the biotechnology company's stock valued at $58,000 after buying an additional 10,900 shares during the period. Finally, Strs Ohio acquired a new stake in shares of Precigen in the 1st quarter valued at $70,000. Institutional investors own 33.51% of the company's stock.

Wall Street Analyst Weigh In

PGEN has been the topic of a number of recent analyst reports. JMP Securities lifted their price target on Precigen from $6.00 to $8.00 and gave the company a "market outperform" rating in a report on Tuesday, August 19th. Citigroup reaffirmed an "outperform" rating on shares of Precigen in a report on Tuesday, August 19th. HC Wainwright reaffirmed a "buy" rating and issued a $8.50 price target on shares of Precigen in a report on Tuesday, August 19th. Wall Street Zen upgraded shares of Precigen from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Finally, JPMorgan Chase & Co. upgraded shares of Precigen from an "underweight" rating to a "neutral" rating in a report on Friday, August 15th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Precigen has an average rating of "Moderate Buy" and a consensus price target of $8.25.

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.