Harry Jr. Thomasian Sells 28,571 Shares of Precigen (NASDAQ:PGEN) Stock

Precigen, Inc. (NASDAQ:PGEN) CFO Harry Jr. Thomasian sold 28,571 shares of Precigen stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $5.78, for a total transaction of $165,140.38. Following the sale, the chief financial officer owned 525,964 shares of the company’s stock, valued at approximately $3,040,071.92. This represents a 5.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Harry Jr. Thomasian also recently made the following trade(s):

• On Wednesday, July 1st, Harry Jr. Thomasian sold 171,429 shares of Precigen stock. The stock was sold at an average price of $5.53, for a total transaction of $948,002.37.
• On Thursday, May 28th, Harry Jr. Thomasian sold 41,884 shares of Precigen stock. The stock was sold at an average price of $4.36, for a total transaction of $182,614.24.

Precigen Stock Up 7.4%

Precigen stock opened at $5.64 on Friday. Precigen, Inc. has a fifty-two week low of $1.47 and a fifty-two week high of $6.04. The company has a debt-to-equity ratio of 4.62, a quick ratio of 4.12 and a current ratio of 4.82. The firm has a 50 day moving average price of $4.46 and a 200 day moving average price of $4.24. The company has a market capitalization of $2.01 billion, a PE ratio of -4.78 and a beta of 1.00.

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

Hedge Funds Weigh In On Precigen

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

Analysts Set New Price Targets

PGEN has been the subject of a number of research analyst reports. HC Wainwright raised their target price on Precigen from $11.00 to $14.00 and gave the company a “buy” rating in a report on Thursday, May 28th. Wall Street Zen cut shares of Precigen from a “buy” rating to a “hold” rating in a research report on Sunday, May 31st. Zacks Research raised shares of Precigen from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 10th. Weiss Ratings restated a “sell (d-)” rating on shares of Precigen in a report on Tuesday, April 21st. Finally, Citizens Jmp upped their target price on shares of Precigen from $9.00 to $11.00 and gave the stock a “market outperform” rating in a research note on Thursday, May 14th. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $12.50.

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.