Stock Traders Purchase High Volume of Precigen Call Options (NASDAQ:PGEN)

Precigen, Inc. (NASDAQ:PGEN) was the target of unusually large options trading activity on Thursday. Stock traders bought 11,343 call options on the stock. This represents an increase of 3,908% compared to the typical daily volume of 283 call options.

Institutional Investors Weigh In On Precigen

Several hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp raised its holdings in shares of Precigen by 4.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 421,788 shares of the biotechnology company’s stock valued at $666,000 after buying an additional 19,301 shares during the period. ClariVest Asset Management LLC lifted its stake in shares of Precigen by 2.9% in the second quarter. ClariVest Asset Management LLC now owns 492,152 shares of the biotechnology company’s stock worth $778,000 after acquiring an additional 13,752 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Precigen by 12.4% in the second quarter. Renaissance Technologies LLC now owns 1,182,690 shares of the biotechnology company’s stock valued at $1,869,000 after acquiring an additional 130,500 shares in the last quarter. AQR Capital Management LLC increased its holdings in Precigen by 56.7% in the second quarter. AQR Capital Management LLC now owns 50,002 shares of the biotechnology company’s stock valued at $79,000 after buying an additional 18,097 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in Precigen by 40.7% during the second quarter. The Manufacturers Life Insurance Company now owns 56,998 shares of the biotechnology company’s stock valued at $90,000 after purchasing an additional 16,486 shares during the last quarter. Institutional investors and hedge funds own 33.51% of the company’s stock.

Wall Street Analyst Weigh In

Separately, HC Wainwright reiterated a “buy” rating and issued a $4.00 price target on shares of Precigen in a research report on Friday, November 15th. Two equities research analysts have rated the stock with a sell rating and four have issued a buy rating to the stock. According to MarketBeat.com, Precigen has a consensus rating of “Hold” and an average target price of $7.00.

Precigen Price Performance

NASDAQ:PGEN traded up $0.04 on Thursday, reaching $1.16. The stock had a trading volume of 3,514,395 shares, compared to its average volume of 1,008,707. The company has a market cap of $339.73 million, a price-to-earnings ratio of -2.11 and a beta of 1.71. The firm’s fifty day moving average is $0.84 and its two-hundred day moving average is $1.10. Precigen has a 12-month low of $0.65 and a 12-month high of $1.93.

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.