Precigen (NASDAQ:PGEN) Upgraded by StockNews.com to Sell

Precigen (NASDAQ:PGEN) was upgraded by equities research analysts at StockNews.com to a “sell” rating in a report released on Tuesday.

Other research analysts have also issued reports about the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Precigen in a report on Wednesday, May 15th. HC Wainwright reaffirmed a “buy” rating and set a $6.00 price target on shares of Precigen in a research report on Wednesday, May 15th. Stifel Nicolaus reissued a “buy” rating and issued a $7.00 price objective on shares of Precigen in a report on Wednesday, May 15th. JPMorgan Chase & Co. cut shares of Precigen from a “neutral” rating to an “underweight” rating in a report on Friday, March 22nd. Finally, JMP Securities reiterated a “market outperform” rating and issued a $14.00 price target on shares of Precigen in a research report on Wednesday, March 20th. Two analysts have rated the stock with a sell rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Precigen has a consensus rating of “Hold” and an average price target of $9.00.

Precigen Stock Performance

Shares of PGEN opened at $1.38 on Tuesday. The firm has a market cap of $348.34 million, a P/E ratio of -3.54 and a beta of 1.77. Precigen has a 52 week low of $0.84 and a 52 week high of $1.88. The firm’s 50-day simple moving average is $1.40 and its 200 day simple moving average is $1.35.

Precigen (NASDAQ:PGEN) last issued 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 firm had revenue of $1.07 million for the quarter, compared to the consensus estimate of $1.54 million. Precigen had a negative return on equity of 65.36% and a negative net margin of 1,781.72%. During the same quarter in the prior year, the firm earned ($0.10) EPS. As a group, equities analysts forecast that Precigen will post -0.35 earnings per share for the current year.

Institutional Trading of Precigen

Several large investors have recently made changes to their positions in the company. EntryPoint Capital LLC bought a new stake in Precigen during the first quarter worth $31,000. Vanguard Group Inc. lifted its position in shares of Precigen by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 6,768,234 shares of the biotechnology company’s stock worth $9,814,000 after buying an additional 19,875 shares during the last quarter. Iridian Asset Management LLC CT boosted its stake in Precigen by 4.3% in the first quarter. Iridian Asset Management LLC CT now owns 2,091,274 shares of the biotechnology company’s stock valued at $3,032,000 after buying an additional 86,340 shares in the last quarter. Fortis Group Advisors LLC bought a new position in Precigen in the first quarter valued at about $28,000. Finally, China Universal Asset Management Co. Ltd. raised its stake in Precigen by 66.1% during the first quarter. China Universal Asset Management Co. Ltd. now owns 47,829 shares of the biotechnology company’s stock worth $69,000 after acquiring an additional 19,041 shares in the last quarter. Institutional investors and hedge funds own 33.51% of the company’s stock.

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.