Insider Selling: Precigen (NASDAQ:PGEN) CEO Sells 119,250 Shares of Stock

Precigen, Inc. (NASDAQ:PGEN) CEO Helen Sabzevari sold 119,250 shares of the stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $4.36, for a total value of $519,930.00. Following the transaction, the chief executive officer owned 3,768,872 shares of the company’s stock, valued at approximately $16,432,281.92. This represents a 3.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Precigen Trading Down 5.1%

PGEN traded down $0.22 on Monday, hitting $4.12. The company had a trading volume of 4,830,773 shares, compared to its average volume of 4,257,618. The company’s fifty day moving average price is $4.02 and its 200 day moving average price is $4.09. Precigen, Inc. has a 1 year low of $1.28 and a 1 year high of $5.47. The company has a current ratio of 4.82, a quick ratio of 4.12 and a debt-to-equity ratio of 4.62. The firm has a market cap of $1.47 billion, a P/E ratio of -3.49 and a beta of 1.06.

Precigen (NASDAQ:PGEN) last issued its quarterly earnings data on Wednesday, May 13th. The biotechnology company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.03) by $0.01. Precigen had a negative net margin of 646.99% and a positive return on equity of 717.50%. The firm had revenue of $23.25 million for the quarter, compared to analyst estimates of $20.81 million. As a group, equities analysts expect that Precigen, Inc. will post 0.04 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Xponance LLC raised its stake in Precigen by 21.3% during the 4th quarter. Xponance LLC now owns 14,191 shares of the biotechnology company’s stock worth $59,000 after acquiring an additional 2,496 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in Precigen by 6.1% in the third quarter. BNP Paribas Financial Markets now owns 51,796 shares of the biotechnology company’s stock valued at $170,000 after acquiring an additional 2,993 shares in the last quarter. Composition Wealth LLC grew its holdings in shares of Precigen by 16.5% during the fourth quarter. Composition Wealth LLC now owns 21,217 shares of the biotechnology company’s stock worth $89,000 after purchasing an additional 3,000 shares during the last quarter. Intech Investment Management LLC grew its holdings in shares of Precigen by 5.2% during the fourth quarter. Intech Investment Management LLC now owns 63,018 shares of the biotechnology company’s stock worth $263,000 after purchasing an additional 3,137 shares during the last quarter. Finally, Strs Ohio increased its position in shares of Precigen by 6.8% during the third quarter. Strs Ohio now owns 50,400 shares of the biotechnology company’s stock worth $166,000 after purchasing an additional 3,200 shares in the last quarter. 33.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on PGEN. HC Wainwright increased their target price on shares of Precigen from $11.00 to $14.00 and gave the stock a “buy” rating in a report on Thursday. Citizens Jmp boosted their price target on shares of Precigen from $9.00 to $11.00 and gave the stock a “market outperform” rating in a report on Thursday, May 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of Precigen in a research report on Tuesday, April 21st. Wall Street Zen lowered shares of Precigen from a “buy” rating to a “hold” rating in a report on Sunday. Finally, Zacks Research raised shares of Precigen from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 10th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Precigen currently has an average rating of “Hold” and a consensus price target of $12.50.

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.