Weiss Ratings Reaffirms Sell (D-) Rating for Precigen (NASDAQ:PGEN)

Key Points

• Weiss Ratings has reaffirmed a "sell (D-)" rating for Precigen (NASDAQ:PGEN), indicating ongoing concerns about the company's financial health.
• Several brokerages have updated their ratings on Precigen, with four analysts suggesting a Buy rating, and the consensus target price for the stock is set at $8.25.
• Precigen recently reported a quarterly EPS of ($0.11), surpassing analyst expectations and indicating a revenue of $0.86 million, while the company faces a significant negative net margin of 2,868.66%.

Precigen (NASDAQ:PGEN - Get Free Report)'s stock had its "sell (d-)" rating reissued by equities research analysts at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

Several other brokerages have also commented on PGEN. Wall Street Zen upgraded shares of Precigen from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. JMP Securities increased their target price on shares of Precigen from $6.00 to $8.00 and gave the stock a "market outperform" rating in a report on Tuesday, August 19th. Citigroup reiterated an "outperform" rating on shares of Precigen in a report on Tuesday, August 19th. JPMorgan Chase & Co. upgraded shares of Precigen from an "underweight" rating to a "neutral" rating in a report on Friday, August 15th. Finally, HC Wainwright reiterated a "buy" rating and set a $8.50 target price on shares of Precigen in a report on Tuesday, August 19th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $8.25.

Precigen Stock Performance

Shares of PGEN stock opened at $3.22 on Wednesday. The firm's 50 day moving average price is $3.38 and its 200-day moving average price is $2.15. Precigen has a one year low of $0.65 and a one year high of $5.22. The firm has a market cap of $959.47 million, a P/E ratio of -7.67 and a beta of 1.61.

Precigen (NASDAQ:PGEN - Get Free Report) last issued its quarterly earnings data on Tuesday, August 12th. The biotechnology company reported ($0.11) EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $0.67 million. As a group, research analysts predict that Precigen will post -0.32 EPS for the current fiscal year.

Insider Activity

In other Precigen news, Director Randal J. Kirk sold 1,809,667 shares of the stock in a transaction that occurred 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 sale, the director directly owned 14,597,161 shares of the company's stock, valued at approximately $49,776,319.01. This represents a 11.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Nancy H. Agee acquired 15,000 shares of the company's stock in a transaction on Thursday, September 4th. The stock was purchased at an average cost of $4.60 per share, for a total transaction of $69,000.00. Following the completion of the transaction, the director owned 217,841 shares in the company, valued at approximately $1,002,068.60. The trade was a 7.39% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 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 Investors Weigh In On Precigen

A number of large investors have recently modified their holdings of PGEN. Parkman Healthcare Partners LLC purchased a new stake in shares of Precigen in the 1st quarter valued at approximately $4,755,000. Bank of America Corp DE increased its position in shares of Precigen by 258.2% in the 2nd 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 last quarter. Adage Capital Partners GP L.L.C. grew its position in shares of Precigen by 3.8% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 11,276,000 shares of the biotechnology company's stock valued at $16,801,000 after buying an additional 410,595 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of Precigen in the 2nd quarter valued at $524,000. Finally, Diametric Capital LP purchased a new position in shares of Precigen in the 2nd quarter valued at $476,000. 33.51% of the stock is owned by hedge funds and other institutional investors.

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.

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