Precigen (NASDAQ:PGEN) Shares Down 4.2% – What’s Next?

Precigen, Inc. (NASDAQ:PGEN) dropped 4.2% during mid-day trading on Tuesday . The company traded as low as $4.28 and last traded at $4.2650. Approximately 670,505 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 4,307,867 shares. The stock had previously closed at $4.45.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on PGEN shares. Wall Street Zen downgraded shares of Precigen from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Precigen in a report on Wednesday, October 8th. Finally, HC Wainwright boosted their target price on Precigen from $8.50 to $9.00 and gave the company a “buy” rating in a research note on Friday, November 14th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Precigen presently has a consensus rating of “Moderate Buy” and a consensus price target of $8.50.

Precigen Stock Down 4.6%

The company has a quick ratio of 3.95, a current ratio of 4.04 and a debt-to-equity ratio of 2.22. The company has a market cap of $1.50 billion, a price-to-earnings ratio of -3.05 and a beta of 1.16. The business has a 50-day simple moving average of $4.00 and a two-hundred day simple moving average of $3.18.

Precigen (NASDAQ:PGEN) last posted its earnings results on Thursday, November 13th. The biotechnology company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.03). The company had revenue of $2.92 million during the quarter, compared to analyst estimates 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, equities analysts forecast that Precigen, Inc. will post -0.32 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Randal J. Kirk sold 1,900,036 shares of the stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $4.18, for a total value of $7,942,150.48. Following the completion of the transaction, the director owned 341,189 shares of the company’s stock, valued at $1,426,170.02. This represents a 84.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 4,866,329 shares of company stock valued at $20,233,899 over the last quarter. Insiders own 47.10% of the company’s stock.

Institutional Trading of Precigen

A number of large investors have recently bought and sold shares of PGEN. Caitong International Asset Management Co. Ltd bought a new position in shares of Precigen during the third quarter valued at $39,000. Russell Investments Group Ltd. bought a new position in Precigen during the 3rd quarter valued at about $41,000. Vontobel Holding Ltd. acquired a new position in Precigen in the third quarter valued at about $48,000. CIBC Bancorp USA Inc. acquired a new stake in shares of Precigen during the third quarter worth approximately $53,000. Finally, Voya Investment Management LLC raised its stake in shares of Precigen by 142.9% in the first quarter. Voya Investment Management LLC now owns 36,771 shares of the biotechnology company’s stock valued at $55,000 after acquiring an additional 21,633 shares during the last quarter. 33.51% of the stock is currently owned by institutional investors.

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.