Precigen (NASDAQ:PGEN) Director Sells $3,589,889.64 in Stock

Precigen, Inc. (NASDAQ:PGEN) Director Randal Kirk sold 937,308 shares of Precigen stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $3.83, for a total value of $3,589,889.64. Following the completion of the transaction, the director owned 5,554,244 shares of the company’s stock, valued at approximately $21,272,754.52. This represents a 14.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Precigen Trading Down 0.5%

PGEN stock traded down $0.02 during midday trading on Friday, reaching $3.88. 4,626,470 shares of the company traded hands, compared to its average volume of 4,540,987. Precigen, Inc. has a 52-week low of $0.65 and a 52-week high of $5.22. The company has a debt-to-equity ratio of 2.22, a quick ratio of 3.95 and a current ratio of 4.04. The business has a 50 day moving average of $3.82 and a 200-day moving average of $2.71. The firm has a market capitalization of $1.37 billion, a price-to-earnings ratio of -2.79 and a beta of 1.71.

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

Institutional Trading of Precigen

A number of large investors have recently made changes to their positions in PGEN. Headlands Technologies LLC bought a new position in shares of Precigen in the first quarter worth about $87,000. Deutsche Bank AG boosted its position in Precigen by 35.3% in the 1st quarter. Deutsche Bank AG now owns 91,031 shares of the biotechnology company’s stock valued at $136,000 after buying an additional 23,729 shares during the period. Nuveen LLC purchased a new stake in Precigen in the 1st quarter valued at about $275,000. Mill Creek Capital Advisors LLC grew its stake in Precigen by 131.8% in the 1st quarter. Mill Creek Capital Advisors LLC now owns 255,000 shares of the biotechnology company’s stock worth $380,000 after acquiring an additional 145,000 shares in the last quarter. Finally, MetLife Investment Management LLC purchased a new position in shares of Precigen during the first quarter worth approximately $124,000. 33.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on PGEN shares. Wall Street Zen lowered shares of Precigen from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Citigroup restated an “outperform” rating on shares of Precigen in a report on Tuesday, August 19th. JMP Securities upped their price target on shares of Precigen from $6.00 to $8.00 and gave the company a “market outperform” rating in a report on Tuesday, August 19th. HC Wainwright increased their price objective 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. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Precigen in a research note on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $8.50.

Precigen Company Profile

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.