Precigen (NASDAQ:PGEN) Stock Breaks Below Two Hundred Day Moving Average – What’s Next?

Precigen, Inc. (NASDAQ:PGEN)’s stock price passed below its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $5.28 and traded as low as $4.91. Precigen shares last traded at $5.14, with a volume of 20,608,278 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. HC Wainwright lifted their price objective on shares of Precigen from $14.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Zacks Research cut shares of Precigen from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. B. Riley Financial started coverage on shares of Precigen in a research note on Friday, September 25th. They issued a “buy” rating and a $12.00 target price for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Precigen in a research note on Thursday, October 15th. Finally, Wall Street Zen lowered shares of Precigen from a “strong-buy” rating to a “buy” rating in a report on Saturday. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $13.67.

Precigen Stock Down 3.8%

The company has a 50-day moving average of $7.09 and a 200-day moving average of $5.28. The company has a current ratio of 4.58, a quick ratio of 3.89 and a debt-to-equity ratio of 2.15. The company has a market capitalization of $1.80 billion, a price-to-earnings ratio of -4.86 and a beta of 1.01.

Precigen (NASDAQ:PGEN) last issued its quarterly earnings results on Wednesday, November 4th. The biotechnology company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.02. Precigen had a positive return on equity of 423.75% and a negative net margin of 183.98%. The business had revenue of $74.15 million during the quarter, compared to the consensus estimate of $71.55 million. During the same quarter last year, the company earned ($1.06) earnings per share. The company’s quarterly revenue was up 2437.6% on a year-over-year basis. On average, equities analysts predict that Precigen, Inc. will post 0.23 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Precigen news, Director Jeffrey B. Kindler sold 185,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $7.44, for a total transaction of $1,376,400.00. Following the sale, the director owned 17,100 shares of the company’s stock, valued at approximately $127,224. The trade was a 91.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Rutul R. Shah sold 15,342 shares of the company’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $7.50, for a total transaction of $115,065.00. Following the transaction, the chief operating officer owned 468,865 shares in the company, valued at $3,516,487.50. The trade was a 3.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 267,739 shares of company stock valued at $1,975,990 over the last quarter. 41.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Precigen

Several institutional investors and hedge funds have recently made changes to their positions in the stock. State of Wyoming acquired a new position in shares of Precigen in the 1st quarter valued at $27,000. Royal Bank of Canada lifted its position in Precigen by 102.6% during the 1st 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 during the period. Chicago Partners Investment Group LLC acquired a new stake in Precigen during the 1st quarter worth about $43,000. Carolina Wealth Advisors LLC purchased a new stake in Precigen during the 3rd quarter valued at about $46,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in Precigen during the 1st quarter valued at about $49,000. 33.51% of the stock is currently owned by institutional investors and hedge funds.

About Precigen

Precigen, Inc is a clinical-stage biotechnology company focused on developing gene and cell therapies for cancer and serious diseases. The company uses its proprietary UltraCAR-T, AdenoVerse, and other gene-engineering platforms to design potential treatments intended to improve the targeting, persistence, and manufacturing of therapeutic cells and genetic medicines.

Precigen’s pipeline has included PRGN-2012, an investigational immunotherapy based on a gorilla adenovector for recurrent respiratory papillomatosis, as well as PRGN-2001, an investigational HPV-targeted immunotherapy.