Precigen (NASDAQ:PGEN) COO Rutul Shah Sells 34,658 Shares

Precigen, Inc. (NASDAQ:PGEN) COO Rutul Shah sold 34,658 shares of the company’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $7.50, for a total value of $259,935.00. Following the sale, the chief operating officer owned 465,012 shares of the company’s stock, valued at approximately $3,487,590. This represents a 6.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 Up 1.5%

NASDAQ PGEN traded up $0.11 during midday trading on Tuesday, hitting $7.28. 5,831,975 shares of the company traded hands, compared to its average volume of 4,691,108. Precigen, Inc. has a 52 week low of $2.99 and a 52 week high of $7.55. The company’s 50-day simple moving average is $5.86 and its 200-day simple moving average is $4.67. The company has a market cap of $2.60 billion, a PE ratio of -7.00 and a beta of 1.02. The company has a debt-to-equity ratio of 2.15, a current ratio of 4.58 and a quick ratio of 3.89.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Patient Capital Management LLC purchased a new stake in shares of Precigen during the second quarter valued at $108,511,000. BlackRock Inc. purchased a new position in Precigen in the 2nd quarter worth $97,737,000. State Street Corp lifted its position in Precigen by 141.1% during the 4th quarter. State Street Corp now owns 10,824,860 shares of the biotechnology company’s stock worth $45,248,000 after acquiring an additional 6,335,033 shares during the period. Geode Capital Management LLC grew its stake in Precigen by 15.9% during the 4th quarter. Geode Capital Management LLC now owns 4,462,078 shares of the biotechnology company’s stock valued at $18,653,000 after purchasing an additional 613,340 shares during the last quarter. Finally, Occam Crest Management LP increased its holdings in shares of Precigen by 29.6% in the fourth quarter. Occam Crest Management LP now owns 3,501,739 shares of the biotechnology company’s stock valued at $14,637,000 after purchasing an additional 799,339 shares during the period. Hedge funds and other institutional investors own 33.51% of the company’s stock.

Wall Street Analyst Weigh In

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

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.