Stifel Nicolaus Reaffirms Buy Rating for Precigen (NASDAQ:PGEN)

Stifel Nicolaus restated their buy rating on shares of Precigen (NASDAQ:PGENFree Report) in a report issued on Wednesday, Benzinga reports. Stifel Nicolaus currently has a $7.00 price objective on the biotechnology company’s stock.

Several other research analysts also recently commented on PGEN. StockNews.com raised Precigen to a sell rating in a research note on Tuesday, March 26th. JMP Securities reaffirmed a market outperform rating and issued a $14.00 price objective on shares of Precigen in a research note on Wednesday, March 20th. HC Wainwright reissued a buy rating and set a $6.00 target price on shares of Precigen in a research report on Wednesday, March 20th. Finally, JPMorgan Chase & Co. downgraded shares of Precigen from a neutral rating to an underweight rating in a research report on Friday, March 22nd. Two research analysts have rated the stock with a sell rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus target price of $9.00.

Get Our Latest Stock Report on PGEN

Precigen Stock Down 1.4 %

Shares of PGEN opened at $1.38 on Wednesday. The firm’s 50 day moving average is $1.40 and its 200-day moving average is $1.34. Precigen has a 12 month low of $0.84 and a 12 month high of $1.88.

Precigen (NASDAQ:PGENGet Free Report) last announced its quarterly earnings data on Tuesday, May 14th. The biotechnology company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.01). The company had revenue of $1.07 million during 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 period in the prior year, the firm earned ($0.10) earnings per share. As a group, research analysts anticipate that Precigen will post -0.35 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Precigen

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. China Universal Asset Management Co. Ltd. increased its stake in Precigen by 338.8% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 28,788 shares of the biotechnology company’s stock valued at $39,000 after purchasing an additional 22,227 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Precigen by 5.2% during the third quarter. Bank of New York Mellon Corp now owns 455,238 shares of the biotechnology company’s stock worth $646,000 after acquiring an additional 22,538 shares in the last quarter. Diversified Trust Co acquired a new stake in shares of Precigen in the 4th quarter worth about $39,000. Emfo LLC lifted its position in Precigen by 22.2% in the 4th quarter. Emfo LLC now owns 519,475 shares of the biotechnology company’s stock valued at $696,000 after acquiring an additional 94,475 shares in the last quarter. Finally, Magnolia Capital Advisors LLC acquired a new position in Precigen during the 3rd quarter valued at about $57,000. Institutional investors own 33.51% of the company’s stock.

About Precigen

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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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