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

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

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on PGEN shares. HC Wainwright reissued a “buy” rating and issued a $6.00 target price (up previously from $4.00) on shares of Precigen in a research report on Thursday, January 23rd. JMP Securities reiterated a “market outperform” rating and issued a $5.00 price objective on shares of Precigen in a report on Tuesday, January 14th. Two investment analysts have rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $7.00.

Precigen Price Performance

The business has a 50 day moving average price of $1.38 and a 200 day moving average price of $1.08. The stock has a market capitalization of $506.66 million, a PE ratio of -3.15 and a beta of 1.66.

Institutional Trading of Precigen

A number of institutional investors and hedge funds have recently bought and sold shares of the company. ProShare Advisors LLC grew its holdings in shares of Precigen by 26.6% during the fourth quarter. ProShare Advisors LLC now owns 51,822 shares of the biotechnology company’s stock valued at $58,000 after buying an additional 10,900 shares during the last quarter. Cetera Investment Advisers lifted its position in Precigen by 8.9% in the 4th quarter. Cetera Investment Advisers now owns 283,562 shares of the biotechnology company’s stock valued at $318,000 after acquiring an additional 23,250 shares in the last quarter. Cary Street Partners Financial LLC purchased a new stake in Precigen during the 4th quarter valued at $98,000. Bank of America Corp DE increased its holdings in shares of Precigen by 11.6% in the 4th quarter. Bank of America Corp DE now owns 207,300 shares of the biotechnology company’s stock worth $232,000 after purchasing an additional 21,626 shares in the last quarter. Finally, BNP Paribas Financial Markets purchased a new position in shares of Precigen in the fourth quarter worth $27,000. 33.51% of the stock is currently owned by 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.