Precigen (NASDAQ:PGEN) Stock Crosses Below 200 Day Moving Average – Here’s Why

Precigen, Inc. (NASDAQ:PGEN)’s stock price crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $4.06 and traded as low as $4.03. Precigen shares last traded at $4.14, with a volume of 2,279,215 shares.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Precigen in a research note on Tuesday, April 21st. Wall Street Zen raised shares of Precigen from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. Zacks Research raised shares of Precigen from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 10th. Citizens Jmp boosted their price objective on shares of Precigen from $8.00 to $9.00 and gave the stock a “market outperform” rating in a research note on Thursday, March 26th. Finally, HC Wainwright boosted their price objective on shares of Precigen from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Thursday, March 26th. Four analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Precigen currently has a consensus rating of “Hold” and an average price target of $9.50.

Precigen Trading Up 1.5%

The company has a 50 day moving average of $3.77 and a two-hundred day moving average of $4.06. The stock has a market capitalization of $1.48 billion, a PE ratio of -3.09 and a beta of 1.07. The company has a debt-to-equity ratio of 4.46, a quick ratio of 2.83 and a current ratio of 3.09.

Precigen (NASDAQ:PGEN) last issued its quarterly earnings results on Wednesday, March 25th. The biotechnology company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.09. Precigen had a positive return on equity of 2,317.96% and a negative net margin of 2,588.21%.The business had revenue of $4.57 million during the quarter, compared to the consensus estimate of $8.29 million. Sell-side analysts predict that Precigen, Inc. will post 0.02 EPS for the current year.

Insider Activity at Precigen

In related news, Director Randal J. Kirk sold 4,772,781 shares of Precigen stock in a transaction that occurred on Monday, March 30th. The shares were sold at an average price of $3.30, for a total value of $15,750,177.30. Following the completion of the sale, the director directly owned 302,213 shares in the company, valued at $997,302.90. This trade represents a 94.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 47.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Chicago Partners Investment Group LLC purchased a new position in shares of Precigen in the first quarter worth $43,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of Precigen during the first quarter valued at $49,000. Inspire Investing LLC grew its holdings in shares of Precigen by 23.3% during the first quarter. Inspire Investing LLC now owns 136,122 shares of the biotechnology company’s stock valued at $527,000 after buying an additional 25,725 shares during the last quarter. Pictet Asset Management Holding SA grew its holdings in shares of Precigen by 78.2% during the first quarter. Pictet Asset Management Holding SA now owns 35,891 shares of the biotechnology company’s stock valued at $139,000 after buying an additional 15,748 shares during the last quarter. Finally, Nations Financial Group Inc. IA ADV purchased a new stake in shares of Precigen during the first quarter valued at $60,000. Hedge funds and other institutional investors own 33.51% of the company’s stock.

About Precigen

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.