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Investors Purchase Large Volume of Precigen Put Options (NASDAQ:PGEN)

Precigen logo with Medical background

Key Points

  • Precigen, Inc. experienced a significant spike in options trading with **5,477 put options** bought, marking an increase of approximately **284%** compared to usual volumes.
  • The company's stock price rose to **$1.78**, with a total trading volume of over **3 million shares**, exceeding its average volume of **1.96 million shares**.
  • Analysts set a target price of **$6.00** for Precigen while the company reported earnings that beat expectations, posting an EPS of **($0.07)** against a consensus estimate of **($0.08)**.
  • MarketBeat previews the top five stocks to own by September 1st.

Precigen, Inc. (NASDAQ:PGEN - Get Free Report) was the recipient of some unusual options trading activity on Wednesday. Investors purchased 5,477 put options on the stock. Thisisanincreaseof284% compared to the average daily volume of 1,428 put options.

Institutional Investors Weigh In On Precigen

Several hedge funds and other institutional investors have recently made changes to their positions in PGEN. CIBC Private Wealth Group LLC grew its holdings in shares of Precigen by 29.0% during the 4th quarter. CIBC Private Wealth Group LLC now owns 331,476 shares of the biotechnology company's stock valued at $391,000 after purchasing an additional 74,422 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Precigen by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 3,299,851 shares of the biotechnology company's stock valued at $3,696,000 after purchasing an additional 53,343 shares during the last quarter. RPO LLC bought a new stake in shares of Precigen during the 4th quarter valued at approximately $47,000. 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 purchasing an additional 12,285 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in shares of Precigen by 29.0% during the fourth quarter. Envestnet Asset Management Inc. now owns 26,343 shares of the biotechnology company's stock worth $30,000 after purchasing an additional 5,915 shares during the last quarter. 33.51% of the stock is owned by institutional investors.

Precigen Price Performance

Precigen stock traded down $0.07 during midday trading on Friday, hitting $1.65. The company's stock had a trading volume of 588,971 shares, compared to its average volume of 1,962,786. Precigen has a 1-year low of $0.65 and a 1-year high of $2.17. The company has a 50-day moving average price of $1.56 and a two-hundred day moving average price of $1.54. The company has a market cap of $485.57 million, a price-to-earnings ratio of -2.94 and a beta of 1.78.

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

Analyst Upgrades and Downgrades

PGEN has been the topic of a number of research analyst reports. JMP Securities reissued a "market outperform" rating and set a $6.00 price objective on shares of Precigen in a report on Thursday, June 12th. Cantor Fitzgerald restated an "overweight" rating on shares of Precigen in a report on Thursday, May 15th. Finally, Wall Street Zen raised shares of Precigen from a "sell" rating to a "hold" rating in a report on Saturday, July 12th.

Read Our Latest Research Report on Precigen

Precigen Company Profile

(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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