Precigen (NASDAQ:PGEN) COO Sells $115,065.00 in Stock

Precigen, Inc. (NASDAQ:PGEN) COO Rutul Shah sold 15,342 shares of Precigen stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $7.50, for a total transaction of $115,065.00. Following the completion of the sale, the chief operating officer owned 468,865 shares in the company, valued at $3,516,487.50. This trade represents a 3.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Precigen Stock Performance

Shares of PGEN stock opened at $7.19 on Friday. Precigen, Inc. has a 12 month low of $2.99 and a 12 month high of $7.72. The company’s fifty day simple moving average is $6.01 and its 200-day simple moving average is $4.73. The firm has a market cap of $2.56 billion, a PE ratio of -6.91 and a beta of 1.02. The company has a quick ratio of 3.89, a current ratio of 4.58 and a debt-to-equity ratio of 2.15.

Precigen (NASDAQ:PGEN) last released its earnings results on Tuesday, August 4th. The biotechnology company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.06. Precigen had a negative net margin of 183.98% and a positive return on equity of 423.75%. The business had revenue of $54.98 million during the quarter, compared to the consensus estimate of $27.98 million. The business’s revenue for the quarter was up 6322.7% on a year-over-year basis. Equities research analysts expect that Precigen, Inc. will post 0.25 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently commented on PGEN shares. HC Wainwright increased their price target on Precigen from $14.00 to $18.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Precigen in a research note on Friday, July 17th. Zacks Research raised Precigen from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 5th. Wall Street Zen raised shares of Precigen from a “hold” rating to a “strong-buy” rating in a research note on Saturday, August 8th. Finally, Citigroup restated an “outperform” rating on shares of Precigen in a report on Thursday, May 14th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.50.

Institutional Investors Weigh In On Precigen

Several hedge funds have recently bought and sold shares of the company. State of Wyoming acquired a new position in Precigen during the first quarter worth approximately $27,000. NBC Securities Inc. acquired a new stake in shares of Precigen in the fourth quarter valued at approximately $38,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Precigen in the third quarter valued at approximately $39,000. Royal Bank of Canada boosted its stake in shares of Precigen by 102.6% during the 1st quarter. Royal Bank of Canada now owns 10,714 shares of the biotechnology company’s stock worth $41,000 after acquiring an additional 5,426 shares during the period. Finally, Russell Investments Group Ltd. bought a new position in shares of Precigen during the 3rd quarter worth approximately $41,000. 33.51% of the stock is currently owned by institutional investors and hedge funds.

Precigen Company Profile

Precigen, Inc (NASDAQ: PGEN) is a biotechnology company focused on the discovery, development and commercialization of genetic medicines. The company leverages proprietary gene and cell therapy platforms to design targeted therapies for oncology, infectious diseases and rare conditions. Precigen’s approach combines synthetic biology, immuno-oncology and microbiome engineering to create precision treatments intended to enhance efficacy while minimizing off-target effects.

The centerpiece of Precigen’s technology is its OmniCAR platform, which enables the rapid generation of adaptable chimeric antigen receptor (CAR) T-cell products.