Precigen (NASDAQ:PGEN) Reaches New 1-Year High – What’s Next?

Precigen, Inc. (NASDAQ:PGEN)’s stock price reached a new 52-week high during trading on Wednesday. The stock traded as high as $8.04 and last traded at $7.89, with a volume of 5323560 shares. The stock had previously closed at $7.70.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Wall Street Zen raised Precigen from a “hold” rating to a “strong-buy” rating in a research report on Saturday, August 8th. HC Wainwright boosted their price target on Precigen from $14.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Zacks Research raised Precigen from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Precigen in a report on Friday, July 17th. Finally, B. Riley Financial assumed coverage on Precigen in a research note on Friday. They issued a “buy” rating for the company. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $14.50.

Precigen Stock Performance

The company has a quick ratio of 3.89, a current ratio of 4.58 and a debt-to-equity ratio of 2.15. The company has a market capitalization of $2.75 billion, a PE ratio of -7.40 and a beta of 1.02. The firm has a 50-day moving average of $6.72 and a two-hundred day moving average of $5.15.

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

Insider Activity at Precigen

In other news, CEO Helen Sabzevari sold 346,836 shares of Precigen stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $5.89, for a total value of $2,042,864.04. Following the sale, the chief executive officer directly owned 3,768,872 shares of the company’s stock, valued at $22,198,656.08. The trade was a 8.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Rutul R. Shah sold 42,924 shares of the business’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $5.85, for a total value of $251,105.40. Following the sale, the chief operating officer owned 497,751 shares of the company’s stock, valued at $2,911,843.35. The trade was a 7.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 991,271 shares of company stock worth $6,208,620 in the last quarter. Company insiders own 41.40% of the company’s stock.

Institutional Investors Weigh In On Precigen

A number of large investors have recently modified their holdings of the business. Engineers Gate Manager LP boosted its position in Precigen by 207.8% during the second quarter. Engineers Gate Manager LP now owns 40,880 shares of the biotechnology company’s stock worth $233,000 after acquiring an additional 27,600 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new position in Precigen in the 2nd quarter worth approximately $73,000. Squarepoint Ops LLC lifted its stake in Precigen by 462.8% in the 2nd quarter. Squarepoint Ops LLC now owns 353,272 shares of the biotechnology company’s stock worth $2,014,000 after purchasing an additional 290,505 shares in the last quarter. Arizona State Retirement System boosted its holdings in shares of Precigen by 10.5% during the 2nd quarter. Arizona State Retirement System now owns 53,713 shares of the biotechnology company’s stock worth $306,000 after purchasing an additional 5,086 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Precigen during the 2nd quarter worth approximately $227,000. Hedge funds and other institutional investors own 33.51% of the company’s stock.

About Precigen

Precigen, Inc (NASDAQ:PGEN) is a biotechnology company focused on developing gene and cell therapies for cancer and other serious diseases. The company uses its synthetic biology platforms to engineer targeted medicines designed to improve treatment effectiveness, durability and safety.

Precigen’s technology portfolio includes its UltraCAR-T platform for developing next-generation CAR-T cell therapies, the AdenoVerse platform for gene delivery and immunotherapy applications, and ActoBiotics technology for the localized delivery of therapeutic proteins.