Precigen (NASDAQ:PGEN) Trading 7.7% Higher – Still a Buy?

Precigen, Inc. (NASDAQ:PGEN) shares shot up 7.7% during mid-day trading on Thursday . The stock traded as high as $1.95 and last traded at $1.95. 191,308 shares changed hands during 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 Analyst Weigh In

Several research firms have recently issued reports on PGEN. HC Wainwright reiterated 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 restated a “market outperform” rating and set a $5.00 price objective on shares of Precigen in a research report on Tuesday, January 14th. Two investment analysts have rated the stock with a sell rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $7.00.

Precigen Trading Down 1.1 %

The company has a market cap of $506.66 million, a P/E ratio of -3.15 and a beta of 1.66. The company has a 50-day simple moving average of $1.38 and a 200 day simple moving average of $1.08.

Institutional Investors Weigh In On Precigen

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PGEN. Envestnet Asset Management Inc. increased its position in shares of Precigen by 29.0% during the fourth quarter. Envestnet Asset Management Inc. now owns 26,343 shares of the biotechnology company’s stock worth $30,000 after acquiring an additional 5,915 shares during the period. Invesco Ltd. grew its stake in Precigen by 14.6% in the fourth quarter. Invesco Ltd. now owns 47,307 shares of the biotechnology company’s stock worth $53,000 after purchasing an additional 6,040 shares in the last quarter. ProShare Advisors LLC increased its holdings in Precigen by 26.6% during the 4th quarter. ProShare Advisors LLC now owns 51,822 shares of the biotechnology company’s stock worth $58,000 after purchasing an additional 10,900 shares during the period. Stoneridge Investment Partners LLC raised its position in Precigen by 21.3% during the 4th quarter. Stoneridge Investment Partners LLC now owns 68,681 shares of the biotechnology company’s stock valued at $77,000 after purchasing an additional 12,063 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in Precigen by 12.0% during the 4th quarter. Wells Fargo & Company MN now owns 114,558 shares of the biotechnology company’s stock valued at $128,000 after purchasing an additional 12,285 shares in the last quarter. Institutional investors own 33.51% of the company’s stock.

Precigen Company Profile

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.