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 business's stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $3.86, for a total transaction of $5,416,969.60. Following the completion of the transaction, the director directly owned 12,117,429 shares in the company, valued at $46,773,275.94. This represents a 10.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Precigen Stock Performance

PGEN traded down $0.10 during trading on Tuesday, hitting $3.76. The stock had a trading volume of 2,306,593 shares, compared to its average volume of 4,079,042. The firm has a market capitalization of $1.12 billion, a P/E ratio of -8.92 and a beta of 1.81. The company's 50-day moving average price is $2.96 and its 200 day moving average price is $2.01. Precigen, Inc. has a twelve month low of $0.65 and a twelve month high of $5.22.

Precigen (NASDAQ:PGEN - Get Free Report) last announced its quarterly earnings data on Tuesday, August 12th. The biotechnology company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.03. The company had revenue of $0.86 million for the quarter, compared to analysts' expectations of $0.67 million. Precigen had a negative net margin of 2,868.66% and a negative return on equity of 842.83%. As a group, equities analysts expect that Precigen, Inc. will post -0.32 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PGEN has been the topic of several research analyst reports. Wall Street Zen upgraded shares of Precigen from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. JPMorgan Chase & Co. upgraded shares of Precigen from an "underweight" rating to a "neutral" rating in a research report on Friday, August 15th. HC Wainwright reiterated a "buy" rating and issued a $8.50 price objective on shares of Precigen in a research report on Tuesday, August 19th. Citigroup restated an "outperform" rating on shares of Precigen in a report on Tuesday, August 19th. Finally, JMP Securities upped their target price 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. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Precigen currently has an average rating of "Moderate Buy" and a consensus target price of $8.25.

Institutional Investors Weigh In On Precigen

A number of hedge funds have recently added to or reduced their stakes in PGEN. BNP Paribas Financial Markets increased its holdings in shares of Precigen by 134.7% during the second quarter. BNP Paribas Financial Markets now owns 48,803 shares of the biotechnology company's stock valued at $69,000 after purchasing an additional 28,005 shares during the period. Bank of America Corp DE increased its holdings in shares of Precigen by 258.2% during the second quarter. Bank of America Corp DE now owns 832,261 shares of the biotechnology company's stock valued at $1,182,000 after purchasing an additional 599,914 shares during the period. Diametric Capital LP acquired a new position in shares of Precigen during the second quarter valued at $476,000. Marshall Wace LLP acquired a new position in shares of Precigen during the second quarter valued at $524,000. Finally, Invesco Ltd. increased its holdings in shares of Precigen by 43.7% during the second quarter. Invesco Ltd. now owns 62,955 shares of the biotechnology company's stock valued at $89,000 after purchasing an additional 19,149 shares during the period. 33.51% of the stock is currently owned by 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.