HC Wainwright Reaffirms Buy Rating for Precigen (NASDAQ:PGEN)

HC Wainwright reissued their buy rating on shares of Precigen (NASDAQ:PGENFree Report) in a research note released on Wednesday morning, Benzinga reports. The brokerage currently has a $6.00 price objective on the biotechnology company’s stock. HC Wainwright also issued estimates for Precigen’s Q2 2024 earnings at ($0.10) EPS and FY2028 earnings at $0.62 EPS.

A number of other research analysts have also issued reports on the stock. Stifel Nicolaus reissued a buy rating and set a $7.00 target price on shares of Precigen in a research note on Wednesday. JMP Securities restated a market outperform rating and issued a $14.00 target price on shares of Precigen in a research report on Wednesday, March 20th. StockNews.com raised Precigen to a sell rating in a research note on Tuesday, March 26th. Finally, JPMorgan Chase & Co. cut Precigen from a neutral rating to an underweight rating in a research note on Friday, March 22nd. Two research analysts have rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Precigen has an average rating of Hold and an average price target of $9.00.

View Our Latest Stock Report on Precigen

Precigen Trading Down 1.4 %

PGEN stock opened at $1.38 on Wednesday. The firm has a fifty day moving average price of $1.40 and a two-hundred day moving average price of $1.34. Precigen has a 1-year low of $0.84 and a 1-year high of $1.88.

Precigen (NASDAQ:PGENGet Free Report) last released its quarterly earnings data on Tuesday, May 14th. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). The company had revenue of $1.07 million for the quarter, compared to analyst estimates of $1.54 million. Precigen had a negative net margin of 1,781.72% and a negative return on equity of 65.36%. During the same quarter in the prior year, the firm earned ($0.10) EPS. Equities research analysts expect that Precigen will post -0.35 EPS for the current fiscal year.

Hedge Funds Weigh In On Precigen

Several hedge funds have recently modified their holdings of the company. SG Americas Securities LLC raised its position in shares of Precigen by 12.5% during the fourth quarter. SG Americas Securities LLC now owns 76,352 shares of the biotechnology company’s stock worth $102,000 after purchasing an additional 8,478 shares during the period. Fortis Group Advisors LLC acquired a new stake in Precigen during the 1st quarter worth about $28,000. China Universal Asset Management Co. Ltd. raised its holdings in Precigen by 66.1% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 47,829 shares of the biotechnology company’s stock worth $69,000 after buying an additional 19,041 shares during the period. Vanguard Group Inc. lifted its stake in Precigen by 0.3% during the first quarter. Vanguard Group Inc. now owns 6,768,234 shares of the biotechnology company’s stock valued at $9,814,000 after buying an additional 19,875 shares in the last quarter. Finally, EntryPoint Capital LLC acquired a new position in shares of Precigen in the first quarter worth about $31,000. 33.51% of the stock is currently owned by institutional investors and hedge funds.

Precigen Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Precigen (NASDAQ:PGEN)

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