Precigen (NASDAQ:PGEN) Stock Price Up 7.7% – Here’s What Happened

Shares of Precigen, Inc. (NASDAQ:PGEN) shot up 7.7% during trading on Thursday . The stock traded as high as $1.95 and last traded at $1.95. 191,308 shares changed hands during mid-day trading, a decline of 91% from the average session volume of 2,183,922 shares. The stock had previously closed at $1.81.

Wall Street Analysts Forecast Growth

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

Precigen Stock Performance

The company’s 50-day simple moving average is $1.34 and its 200 day simple moving average is $1.07. The company has a market cap of $519.84 million, a PE ratio of -3.23 and a beta of 1.66.

Institutional Investors Weigh In On Precigen

Several large investors have recently bought and sold shares of the stock. Iridian Asset Management LLC CT boosted its stake in shares of Precigen by 38.8% in the 4th quarter. Iridian Asset Management LLC CT now owns 5,241,922 shares of the biotechnology company’s stock valued at $5,871,000 after buying an additional 1,465,962 shares during the period. Geode Capital Management LLC lifted its stake in Precigen by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 3,299,851 shares of the biotechnology company’s stock worth $3,696,000 after acquiring an additional 53,343 shares during the last quarter. State Street Corp grew its holdings in Precigen by 1.0% during the 3rd quarter. State Street Corp now owns 2,872,064 shares of the biotechnology company’s stock worth $2,720,000 after acquiring an additional 29,253 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Precigen by 4.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,278,862 shares of the biotechnology company’s stock valued at $1,432,000 after purchasing an additional 56,012 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Precigen by 11.6% in the 4th quarter. Northern Trust Corp now owns 1,168,689 shares of the biotechnology company’s stock valued at $1,309,000 after purchasing an additional 121,700 shares in the last quarter. Hedge funds and other institutional investors own 33.51% of the company’s stock.

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.