Precigen (NASDAQ:PGEN) Sets New 52-Week High – Here’s What Happened

Precigen, Inc. (NASDAQ:PGEN) hit a new 52-week high on Monday . The stock traded as high as $6.04 and last traded at $5.9150, with a volume of 1701755 shares trading hands. The stock had previously closed at $5.86.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Wall Street Zen lowered Precigen from a “buy” rating to a “hold” rating in a report on Sunday, May 31st. Weiss Ratings restated a “sell (d-)” rating on shares of Precigen in a report on Tuesday, April 21st. Citizens Jmp lifted their target price on Precigen from $9.00 to $11.00 and gave the company a “market outperform” rating in a research report on Thursday, May 14th. Zacks Research upgraded Precigen from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 10th. Finally, HC Wainwright increased their price target on Precigen from $11.00 to $14.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $12.50.

Precigen Trading Up 1.1%

The stock has a market capitalization of $2.11 billion, a PE ratio of -5.02 and a beta of 1.06. The company has a current ratio of 4.82, a quick ratio of 4.12 and a debt-to-equity ratio of 4.62. The firm has a 50-day moving average price of $4.33 and a 200-day moving average price of $4.18.

Precigen (NASDAQ:PGEN) last issued its quarterly earnings results on Wednesday, May 13th. The biotechnology company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.01. The company had revenue of $23.25 million for the quarter, compared to the consensus estimate of $20.81 million. Precigen had a negative net margin of 646.99% and a positive return on equity of 717.50%. As a group, equities analysts forecast that Precigen, Inc. will post -0.02 EPS for the current fiscal year.

Insider Activity at Precigen

In other news, CEO Helen Sabzevari sold 119,250 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $4.36, for a total transaction of $519,930.00. Following the completion of the sale, the chief executive officer owned 3,768,872 shares in the company, valued at $16,432,281.92. This trade represents a 3.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Harry Jr. Thomasian sold 41,884 shares of Precigen stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $4.36, for a total transaction of $182,614.24. Following the completion of the sale, the chief financial officer directly owned 554,535 shares in the company, valued at $2,417,772.60. This trade represents a 7.02% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 232,968 shares of company stock valued at $1,015,740 over the last quarter. 41.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. State Street Corp increased its holdings in Precigen by 141.1% in the 4th quarter. State Street Corp now owns 10,824,860 shares of the biotechnology company’s stock worth $45,248,000 after acquiring an additional 6,335,033 shares during the last quarter. Geode Capital Management LLC boosted its position in Precigen by 15.9% during the fourth quarter. Geode Capital Management LLC now owns 4,462,078 shares of the biotechnology company’s stock worth $18,653,000 after purchasing an additional 613,340 shares during the period. Occam Crest Management LP boosted its position in Precigen by 29.6% during the fourth quarter. Occam Crest Management LP now owns 3,501,739 shares of the biotechnology company’s stock worth $14,637,000 after purchasing an additional 799,339 shares during the period. SymBiosis Capital Partners LLC purchased a new position in shares of Precigen in the fourth quarter worth about $12,540,000. Finally, Bank of America Corp DE raised its position in shares of Precigen by 201.1% in the third quarter. Bank of America Corp DE now owns 2,505,992 shares of the biotechnology company’s stock valued at $8,245,000 after purchasing an additional 1,673,731 shares during the period. Institutional investors own 33.51% of the company’s stock.

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.