Analysts Set Precigen, Inc. (NASDAQ:PGEN) Target Price at $8.50

Shares of Precigen, Inc. (NASDAQ:PGEN) have been given a consensus rating of “Moderate Buy” by the six analysts that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $8.50.

A number of research firms have weighed in on PGEN. HC Wainwright upped their price target on shares of Precigen from $8.50 to $9.00 and gave the stock a “buy” rating in a research report on Friday, November 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Precigen in a report on Wednesday, October 8th. Finally, Wall Street Zen lowered Precigen from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th.

Precigen Stock Performance

Shares of PGEN opened at $4.19 on Monday. The business has a 50-day simple moving average of $3.97 and a two-hundred day simple moving average of $3.11. The company has a quick ratio of 3.95, a current ratio of 4.04 and a debt-to-equity ratio of 2.22. Precigen has a 52 week low of $0.69 and a 52 week high of $5.22. The stock has a market cap of $1.48 billion, a price-to-earnings ratio of -3.01 and a beta of 1.16.

Precigen (NASDAQ:PGEN) last announced its quarterly earnings data on Thursday, November 13th. The biotechnology company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.03). The company had revenue of $2.92 million for the quarter, compared to the consensus estimate of $0.67 million. Precigen had a negative net margin of 3,912.92% and a positive return on equity of 1,066.10%. On average, analysts expect that Precigen will post -0.32 EPS for the current year.

Insider Transactions at Precigen

In other Precigen news, Director Randal J. Kirk sold 1,900,036 shares of the stock in a transaction that occurred on Monday, December 22nd. The shares were sold at an average price of $4.18, for a total transaction of $7,942,150.48. Following the completion of the sale, the director directly owned 341,189 shares of the company’s stock, valued at $1,426,170.02. This trade represents a 84.78% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jeffrey B. Kindler sold 106,837 shares of Precigen stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $3.38, for a total transaction of $361,109.06. Following the sale, the director owned 346,070 shares in the company, valued at approximately $1,169,716.60. The trade was a 23.59% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 6,850,356 shares of company stock valued at $27,009,055. Corporate insiders own 47.10% of the company’s stock.

Hedge Funds Weigh In On Precigen

Institutional investors have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd bought a new stake in Precigen in the 3rd quarter valued at $39,000. Russell Investments Group Ltd. purchased a new position in shares of Precigen during the third quarter valued at about $41,000. Vontobel Holding Ltd. bought a new stake in shares of Precigen in the third quarter worth about $48,000. CIBC Bancorp USA Inc. bought a new stake in shares of Precigen in the third quarter worth about $53,000. Finally, Voya Investment Management LLC lifted its position in shares of Precigen by 142.9% in the first quarter. Voya Investment Management LLC now owns 36,771 shares of the biotechnology company’s stock worth $55,000 after buying an additional 21,633 shares in the last quarter. 33.51% of the stock is owned by hedge funds and other institutional investors.

About Precigen

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.