Precigen (NASDAQ:PGEN) Stock Price Up 9.1%

Precigen, Inc. (NASDAQ:PGEN) shares rose 9.1% on Thursday . The company traded as high as $3.86 and last traded at $3.82. Approximately 1,260,332 shares changed hands during mid-day trading, a decline of 17% from the average daily volume of 1,513,905 shares. The stock had previously closed at $3.50.

PGEN has been the topic of a number of analyst reports. JMP Securities reissued an “outperform” rating and issued a $13.00 price target on shares of Precigen in a research note on Wednesday, June 10th. Zacks Investment Research cut Precigen from a “buy” rating to a “hold” rating in a research note on Wednesday, August 12th. HC Wainwright reissued a “buy” rating and issued a $8.00 price target on shares of Precigen in a research note on Wednesday, June 24th. BidaskClub cut Precigen from a “sell” rating to a “strong sell” rating in a research note on Tuesday. Finally, ValuEngine cut Precigen from a “buy” rating to a “hold” rating in a research note on Thursday, August 27th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $8.75.

The company has a market capitalization of $603.09 million, a price-to-earnings ratio of -1.86 and a beta of 1.68. The business has a fifty day moving average price of $4.95 and a 200 day moving average price of $3.98. The company has a debt-to-equity ratio of 4.29, a current ratio of 2.70 and a quick ratio of 2.50.

Precigen (NASDAQ:PGEN) last issued its earnings results on Monday, August 10th. The biotechnology company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.04). The firm had revenue of $30.42 million during the quarter, compared to analyst estimates of $20.27 million. Precigen had a negative net margin of 321.21% and a negative return on equity of 105.68%. As a group, sell-side analysts predict that Precigen, Inc. will post -0.68 earnings per share for the current fiscal year.

In other Precigen news, SVP Jeffrey Thomas Perez sold 7,660 shares of the firm’s stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $5.22, for a total value of $39,985.20. Following the completion of the transaction, the senior vice president now directly owns 250,889 shares in the company, valued at $1,309,640.58. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Randal J. Kirk purchased 808,518 shares of the firm’s stock in a transaction on Tuesday, August 11th. The stock was bought at an average price of $4.50 per share, with a total value of $3,638,331.00. The disclosure for this purchase can be found here. Insiders sold 28,354 shares of company stock valued at $140,187 over the last 90 days. 50.70% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of PGEN. Two Sigma Advisers LP grew its holdings in Precigen by 89.8% during the second quarter. Two Sigma Advisers LP now owns 177,111 shares of the biotechnology company’s stock valued at $884,000 after purchasing an additional 83,800 shares during the period. Principal Financial Group Inc. purchased a new position in shares of Precigen during the second quarter valued at approximately $224,000. Handelsbanken Fonder AB purchased a new position in shares of Precigen during the second quarter valued at approximately $74,000. Nuveen Asset Management LLC raised its holdings in Precigen by 15.0% in the 2nd quarter. Nuveen Asset Management LLC now owns 557,498 shares of the biotechnology company’s stock worth $2,782,000 after acquiring an additional 72,613 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Precigen by 1.1% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 452,123 shares of the biotechnology company’s stock worth $2,257,000 after acquiring an additional 4,941 shares during the last quarter. Hedge funds and other institutional investors own 70.34% of the company’s stock.

Precigen Company Profile (NASDAQ:PGEN)

Precigen, Inc engages in the engineering and industrialization of biology in the United States. The company, through a suite of proprietary and complementary technologies, designs, builds, and regulates gene programs, which are DNA sequences that consist of key genetic components. It provides reproductive technologies and other genetic processes to cattle breeders and producers; biological insect control solutions; technologies for non-browning apple without the use of artificial additives; genetically engineered swine for medical and genetic research; commercial aquaculture products; and preservation and cloning technologies.

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