Insider Selling: Precigen (NASDAQ:PGEN) Director Sells 1,900,036 Shares of Stock

Precigen, Inc. (NASDAQ:PGEN) Director Randal Kirk sold 1,900,036 shares of the company’s stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $4.18, for a total value of $7,942,150.48. Following the sale, the director owned 341,189 shares of the company’s stock, valued at approximately $1,426,170.02. The trade was a 84.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Precigen Trading Up 1.4%

NASDAQ:PGEN traded up $0.06 on Monday, hitting $4.38. 8,655,649 shares of the stock were exchanged, compared to its average volume of 4,507,981. The stock has a fifty day moving average of $3.94 and a 200-day moving average of $3.08. The stock has a market cap of $1.55 billion, a PE ratio of -3.15 and a beta of 1.16. The company has a current ratio of 4.04, a quick ratio of 3.95 and a debt-to-equity ratio of 2.22. Precigen, Inc. has a fifty-two week low of $0.69 and a fifty-two week high of $5.22.

Precigen (NASDAQ:PGEN) last posted its earnings results on Thursday, November 13th. The biotechnology company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.03). The business had revenue of $2.92 million for the quarter, compared to analyst estimates of $0.67 million. Precigen had a positive return on equity of 1,066.10% and a negative net margin of 3,912.92%. As a group, equities analysts expect that Precigen, Inc. will post -0.32 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Deutsche Bank AG increased its holdings in shares of Precigen by 35.3% during the first quarter. Deutsche Bank AG now owns 91,031 shares of the biotechnology company’s stock valued at $136,000 after purchasing an additional 23,729 shares during the period. Nuveen LLC acquired a new position in Precigen during the 1st quarter valued at about $275,000. MetLife Investment Management LLC acquired a new stake in shares of Precigen in the 1st quarter worth approximately $124,000. Adage Capital Partners GP L.L.C. lifted its stake in shares of Precigen by 3.8% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 11,276,000 shares of the biotechnology company’s stock worth $16,801,000 after acquiring an additional 410,595 shares during the period. Finally, AQR Capital Management LLC boosted its holdings in shares of Precigen by 216.9% in the first quarter. AQR Capital Management LLC now owns 63,179 shares of the biotechnology company’s stock valued at $94,000 after acquiring an additional 43,245 shares in the last quarter. Institutional investors and hedge funds own 33.51% of the company’s stock.

Wall Street Analysts Forecast Growth

PGEN has been the subject of several research analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Precigen in a report on Wednesday, October 8th. Wall Street Zen lowered Precigen from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. Finally, HC Wainwright raised their price objective on Precigen from $8.50 to $9.00 and gave the stock a “buy” rating in a research note on Friday, November 14th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Precigen has an average rating of “Moderate Buy” and a consensus target price of $8.50.

Precigen Company Profile

Precigen, Inc (NASDAQ: PGEN) is a biotechnology company focused on the discovery, development and commercialization of genetic medicines. The company leverages proprietary gene and cell therapy platforms to design targeted therapies for oncology, infectious diseases and rare conditions. Precigen’s approach combines synthetic biology, immuno-oncology and microbiome engineering to create precision treatments intended to enhance efficacy while minimizing off-target effects.

The centerpiece of Precigen’s technology is its OmniCAR platform, which enables the rapid generation of adaptable chimeric antigen receptor (CAR) T-cell products.