Precigen (NASDAQ:PGEN) Hits New 1-Year High – Here’s What Happened

Precigen, Inc. (NASDAQ:PGEN) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $5.47 and last traded at $5.4130, with a volume of 353339 shares. The stock had previously closed at $5.38.

Analysts Set New Price Targets

PGEN has been the subject of a number of analyst reports. Citizens Jmp upped their price objective on shares of Precigen from $9.00 to $11.00 and gave the company a “market outperform” rating in a report on Thursday, May 14th. Zacks Research upgraded shares of Precigen from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 10th. Citigroup restated an “outperform” rating on shares of Precigen in a report on Thursday, May 14th. Wall Street Zen lowered shares of Precigen from a “buy” rating to a “hold” rating in a research report on Sunday, May 31st. Finally, HC Wainwright upped their price objective on Precigen from $11.00 to $14.00 and gave the company a “buy” rating in a report on Thursday, May 28th. Three 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $12.50.

Precigen Price Performance

The company has a quick ratio of 4.12, a current ratio of 4.82 and a debt-to-equity ratio of 4.62. The company has a market cap of $1.92 billion, a price-to-earnings ratio of -4.63 and a beta of 1.06. The stock’s 50-day simple moving average is $4.21 and its 200 day simple moving average is $4.13.

Precigen (NASDAQ:PGEN) last announced its quarterly earnings results on Wednesday, May 13th. The biotechnology company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.01. The business had revenue of $23.25 million during the quarter, compared to analysts’ expectations of $20.81 million. Precigen had a negative net margin of 646.99% and a positive return on equity of 717.50%. On average, equities research analysts anticipate that Precigen, Inc. will post -0.02 EPS for the current fiscal year.

Insider Transactions at Precigen

In other news, CEO Helen Sabzevari sold 119,250 shares of the firm’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $4.36, for a total transaction of $519,930.00. Following the completion of the transaction, the chief executive officer directly owned 3,768,872 shares in the company, valued at $16,432,281.92. This trade represents a 3.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Randal J. Kirk sold 4,772,781 shares of the firm’s stock in a transaction on Monday, March 30th. The stock was sold at an average price of $3.30, for a total value of $15,750,177.30. Following the transaction, the director owned 302,213 shares of the company’s stock, valued at approximately $997,302.90. This represents a 94.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 5,005,749 shares of company stock worth $16,765,918 in the last three months. Company insiders own 41.40% of the company’s stock.

Hedge Funds Weigh In On Precigen

Institutional investors have recently bought and sold shares of the company. State of Wyoming purchased a new stake in Precigen during the first quarter worth about $27,000. NBC Securities Inc. purchased a new position in Precigen in the 4th quarter valued at approximately $38,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Precigen in the third quarter worth $39,000. Royal Bank of Canada grew its stake in shares of Precigen by 102.6% in the first 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 in the last quarter. Finally, Russell Investments Group Ltd. purchased a new stake in shares of Precigen during the third quarter worth $41,000. 33.51% of the stock is owned by institutional investors and hedge funds.

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.