Precigen, Inc. (NASDAQ:PGEN) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Precigen, Inc. (NASDAQ:PGEN) have earned an average rating of “Moderate Buy” from the five analysts that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation and four have given a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $7.00.

Several analysts recently issued reports on the company. JMP Securities cut their target price 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. StockNews.com upgraded Precigen to a “sell” rating in a research report on Thursday, August 1st. Stifel Nicolaus increased their target price on Precigen from $7.00 to $10.00 and gave the stock a “buy” rating in a research report on Monday, June 3rd. Finally, HC Wainwright cut their target price on Precigen from $6.00 to $4.00 and set a “buy” rating for the company in a research report on Thursday, August 15th.

Insider Buying and Selling at Precigen

In other news, SVP Jeffrey Thomas Perez purchased 58,823 shares of the business’s stock in a transaction on Friday, August 9th. The stock was acquired at an average price of $0.85 per share, for a total transaction of $49,999.55. Following the acquisition, the senior vice president now directly owns 743,097 shares of the company’s stock, valued at approximately $631,632.45. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 44.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Precigen

A number of institutional investors and hedge funds have recently modified their holdings of PGEN. Patient Capital Management LLC boosted its holdings in shares of Precigen by 16.2% in the 4th quarter. Patient Capital Management LLC now owns 15,983,700 shares of the biotechnology company’s stock worth $21,418,000 after purchasing an additional 2,230,524 shares during the period. Sanders Morris Harris LLC bought a new stake in shares of Precigen during the 1st quarter worth approximately $1,022,000. Panagora Asset Management Inc. bought a new stake in shares of Precigen during the 4th quarter worth approximately $407,000. Cetera Advisors LLC bought a new stake in shares of Precigen during the 1st quarter worth approximately $367,000. Finally, Renaissance Technologies LLC lifted its stake in shares of Precigen by 12.4% during the 2nd quarter. Renaissance Technologies LLC now owns 1,182,690 shares of the biotechnology company’s stock worth $1,869,000 after acquiring an additional 130,500 shares during the last quarter. Hedge funds and other institutional investors own 33.51% of the company’s stock.

Precigen Stock Down 3.1 %

NASDAQ PGEN opened at $0.96 on Tuesday. The stock’s 50-day moving average price is $1.23 and its 200-day moving average price is $1.39. Precigen has a 52 week low of $0.84 and a 52 week high of $1.93. The company has a market capitalization of $243.38 million, a P/E ratio of -2.47 and a beta of 1.67.

Precigen (NASDAQ:PGEN) last posted its quarterly earnings data on Wednesday, August 14th. The biotechnology company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.01). Precigen had a negative return on equity of 90.99% and a negative net margin of 3,084.55%. The company had revenue of $0.72 million during the quarter, compared to the consensus estimate of $1.28 million. Research analysts anticipate that Precigen will post -0.44 EPS for the current year.

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.