Randal Kirk Sells 1,809,667 Shares of Precigen (NASDAQ:PGEN) Stock

Precigen, Inc. (NASDAQ:PGEN) Director Randal Kirk sold 1,809,667 shares of the company’s stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $3.41, for a total value of $6,170,964.47. Following the completion of the sale, the director owned 14,597,161 shares in the company, valued at $49,776,319.01. The trade was a 11.03% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Precigen Stock Up 1.5%

Precigen stock opened at $3.34 on Thursday. Precigen, Inc. has a twelve month low of $0.65 and a twelve month high of $5.22. The stock’s 50 day moving average is $3.21 and its 200 day moving average is $2.10. The company has a market capitalization of $995.22 million, a P/E ratio of -7.95 and a beta of 1.61.

Precigen (NASDAQ:PGEN) last announced its quarterly earnings data on Tuesday, August 12th. The biotechnology company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.03. Precigen had a negative net margin of 2,868.66% and a negative return on equity of 842.83%. The company had revenue of $0.86 million for the quarter, compared to the consensus estimate of $0.67 million. As a group, equities analysts expect that Precigen, Inc. will post -0.32 EPS for the current year.

Hedge Funds Weigh In On Precigen

Several large investors have recently added to or reduced their stakes in the company. Adage Capital Partners GP L.L.C. lifted its holdings in Precigen by 3.8% during the first quarter. Adage Capital Partners GP L.L.C. now owns 11,276,000 shares of the biotechnology company’s stock valued at $16,801,000 after purchasing an additional 410,595 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Precigen by 7.7% during the 2nd quarter. Geode Capital Management LLC now owns 3,749,182 shares of the biotechnology company’s stock valued at $5,325,000 after buying an additional 269,580 shares in the last quarter. Parkman Healthcare Partners LLC purchased a new position in shares of Precigen during the 1st quarter valued at $4,755,000. Bank of America Corp DE lifted its position in shares of Precigen by 258.2% in the second quarter. Bank of America Corp DE now owns 832,261 shares of the biotechnology company’s stock valued at $1,182,000 after acquiring an additional 599,914 shares in the last quarter. Finally, Marshall Wace LLP purchased a new position in shares of Precigen in the second quarter valued at about $524,000. Hedge funds and other institutional investors own 33.51% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on PGEN shares. Wall Street Zen upgraded Precigen from a “sell” rating to a “hold” rating in a research note on Saturday, July 12th. JMP Securities increased their price objective on Precigen from $6.00 to $8.00 and gave the company a “market outperform” rating in a research report on Tuesday, August 19th. JPMorgan Chase & Co. raised shares of Precigen from an “underweight” rating to a “neutral” rating in a report on Friday, August 15th. HC Wainwright reaffirmed a “buy” rating and set a $8.50 price target on shares of Precigen in a report on Tuesday, August 19th. Finally, Citigroup reaffirmed an “outperform” rating on shares of Precigen in a report on Tuesday, August 19th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Precigen currently has a consensus rating of “Moderate Buy” and an average target price of $8.25.

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.