Precigen (NASDAQ:PGEN) Shares Down 4.2% – Here’s Why

Precigen, Inc. (NASDAQ:PGEN)’s share price traded down 4.2% during trading on Monday . The company traded as low as $1.73 and last traded at $1.73. 119,813 shares changed hands during trading, a decline of 94% from the average session volume of 1,997,533 shares. The stock had previously closed at $1.80.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. JMP Securities reiterated a “market outperform” rating and set a $5.00 price target on shares of Precigen in a report on Tuesday, January 14th. HC Wainwright reiterated a “buy” rating and set a $6.00 price target (up previously from $4.00) on shares of Precigen in a report on Thursday, January 23rd. Two research analysts have rated the stock with a sell rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $7.00.

Precigen Price Performance

The company’s 50-day simple moving average is $1.55 and its 200-day simple moving average is $1.13. The stock has a market capitalization of $502.27 million, a price-to-earnings ratio of -3.12 and a beta of 1.58.

Institutional Investors Weigh In On Precigen

Several hedge funds have recently bought and sold shares of PGEN. Iridian Asset Management LLC CT lifted its position in Precigen by 38.8% during the fourth quarter. Iridian Asset Management LLC CT now owns 5,241,922 shares of the biotechnology company’s stock worth $5,871,000 after acquiring an additional 1,465,962 shares during the last quarter. LexAurum Advisors LLC lifted its position in Precigen by 151.9% during the fourth quarter. LexAurum Advisors LLC now owns 691,544 shares of the biotechnology company’s stock worth $775,000 after acquiring an additional 417,055 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Precigen by 4.8% in the third quarter. Geode Capital Management LLC now owns 3,246,508 shares of the biotechnology company’s stock valued at $3,075,000 after buying an additional 149,829 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Precigen by 11.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,222,850 shares of the biotechnology company’s stock valued at $1,158,000 after buying an additional 127,467 shares in the last quarter. Finally, HighTower Advisors LLC raised its position in shares of Precigen by 186.8% in the third quarter. HighTower Advisors LLC now owns 192,144 shares of the biotechnology company’s stock valued at $179,000 after buying an additional 125,145 shares in the last quarter. 33.51% of the stock is currently owned by institutional investors and hedge funds.

About Precigen

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.