Precigen Target of Unusually High Options Trading (NASDAQ:PGEN)

Key Points

• Precigen experienced a 288% increase in call options volume, with traders acquiring 6,357 contracts on Wednesday, signaling heightened investor interest.
• Institutional investors own 33.51% of Precigen's stock, with notable increases in holdings from firms like Wells Fargo and Barclays during the fourth quarter.
• Despite posting a **better-than-expected loss** of $0.07 EPS for the recent quarter, Precigen's stock is down 1.8% and is currently trading at $1.90.

Precigen, Inc. (NASDAQ:PGEN - Get Free Report) saw unusually large options trading activity on Wednesday. Stock investors bought 6,357 call options on the company. Thisisanincreaseof288% compared to the average volume of 1,637 call options.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on PGEN shares. Wall Street Zen upgraded shares of Precigen from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. JMP Securities reiterated a "market outperform" rating and issued a $6.00 price objective on shares of Precigen in a report on Thursday, June 12th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Precigen in a research report on Thursday, May 15th.

Institutional Trading of Precigen

Large investors have recently modified their holdings of the business. Geode Capital Management LLC increased its position in Precigen by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 3,299,851 shares of the biotechnology company's stock worth $3,696,000 after purchasing an additional 53,343 shares in the last quarter. Barclays PLC grew its holdings in shares of Precigen by 28.3% during the fourth quarter. Barclays PLC now owns 242,899 shares of the biotechnology company's stock worth $272,000 after buying an additional 53,546 shares in the last quarter. Wells Fargo & Company MN grew its holdings in shares of Precigen by 12.0% during the fourth quarter. Wells Fargo & Company MN now owns 114,558 shares of the biotechnology company's stock worth $128,000 after buying an additional 12,285 shares in the last quarter. ProShare Advisors LLC raised its position in shares of Precigen by 26.6% in the fourth 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 last quarter. Finally, Bank of America Corp DE lifted its stake in shares of Precigen by 11.6% during the fourth quarter. Bank of America Corp DE now owns 207,300 shares of the biotechnology company's stock valued at $232,000 after buying an additional 21,626 shares during the period. 33.51% of the stock is currently owned by institutional investors and hedge funds.

Precigen Stock Down 2.9%

NASDAQ:PGEN traded down $0.06 during mid-day trading on Friday, reaching $1.83. 555,741 shares of the stock were exchanged, compared to its average volume of 1,989,996. The stock has a market capitalization of $538.70 million, a P/E ratio of -3.26 and a beta of 1.87. Precigen has a 1 year low of $0.65 and a 1 year high of $2.17. The company has a 50 day simple moving average of $1.60 and a 200-day simple moving average of $1.56.

Precigen (NASDAQ:PGEN - Get Free Report) last issued its quarterly earnings data on Wednesday, May 14th. The biotechnology company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.01. Precigen had a negative net margin of 3,728.87% and a negative return on equity of 279.20%. The company had revenue of $1.34 million for the quarter, compared to the consensus estimate of $0.50 million. As a group, research analysts predict that Precigen will post -0.32 EPS for the current year.

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.