Precigen, Inc. (NASDAQ:PGEN) Receives Average Rating of “Moderate Buy” from Analysts

Precigen, Inc. (NASDAQ:PGEN) has been given an average rating of “Moderate Buy” by the five ratings firms that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $7.00.

PGEN has been the subject of a number of research analyst reports. Stifel Nicolaus lifted their target price on Precigen from $7.00 to $10.00 and gave the company a “buy” rating in a research report on Monday, June 3rd. HC Wainwright reduced their price target on Precigen from $6.00 to $4.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. StockNews.com raised Precigen to a “sell” rating in a research report on Thursday, August 1st. Finally, JMP Securities reduced their price target on Precigen from $14.00 to $7.00 and set a “market outperform” rating for the company in a research report on Thursday, August 15th.

Precigen Stock Down 3.1 %

Shares of NASDAQ PGEN opened at $0.96 on Tuesday. The business has a fifty day simple moving average of $1.23 and a two-hundred day simple moving average of $1.39. The firm has a market cap of $243.38 million, a PE ratio of -2.47 and a beta of 1.67. Precigen has a twelve month low of $0.84 and a twelve month high of $1.93.

Precigen (NASDAQ:PGEN) last issued its earnings results on Wednesday, August 14th. The biotechnology company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). The firm had revenue of $0.72 million for the quarter, compared to the consensus estimate of $1.28 million. Precigen had a negative net margin of 3,084.55% and a negative return on equity of 90.99%. On average, research analysts expect that Precigen will post -0.44 earnings per share for the current year.

Insider Buying and Selling

In other Precigen news, SVP Jeffrey Thomas Perez bought 58,823 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were purchased at an average cost of $0.85 per share, for a total transaction of $49,999.55. Following the purchase, the senior vice president now directly owns 743,097 shares in the company, valued at $631,632.45. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 44.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in PGEN. Fortis Group Advisors LLC purchased a new stake in Precigen during the 1st quarter valued at about $28,000. Fisher Asset Management LLC purchased a new stake in Precigen during the 4th quarter valued at about $29,000. EntryPoint Capital LLC purchased a new stake in Precigen during the 1st quarter valued at about $31,000. Simplicity Wealth LLC purchased a new stake in Precigen during the 1st quarter valued at about $51,000. Finally, China Universal Asset Management Co. Ltd. grew its stake in Precigen by 66.1% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 47,829 shares of the biotechnology company’s stock valued at $69,000 after purchasing an additional 19,041 shares during the last quarter. 33.51% of the stock is currently owned by hedge funds and other institutional investors.

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.