Precigen (NASDAQ:PGEN) COO Rutul Shah Sells 33,772 Shares

Precigen, Inc. (NASDAQ:PGEN) COO Rutul Shah sold 33,772 shares of the company’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $6.50, for a total value of $219,518.00. Following the completion of the sale, the chief operating officer owned 497,751 shares of the company’s stock, valued at $3,235,381.50. This represents a 6.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Precigen Trading Up 5.4%

NASDAQ:PGEN opened at $6.61 on Tuesday. The company has a current ratio of 4.82, a quick ratio of 4.12 and a debt-to-equity ratio of 4.62. Precigen, Inc. has a 1-year low of $1.70 and a 1-year high of $6.70. The firm has a market capitalization of $2.36 billion, a price-to-earnings ratio of -5.60 and a beta of 1.00. The business’s 50-day moving average price is $5.03 and its two-hundred day moving average price is $4.43.

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

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PGEN. Citizens Jmp boosted their price objective on shares of Precigen from $9.00 to $11.00 and gave the company a “market outperform” rating in a report on Thursday, May 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of Precigen in a research report on Friday, July 17th. HC Wainwright reissued a “buy” rating and issued a $14.00 price target on shares of Precigen in a report on Monday. Wall Street Zen lowered shares of Precigen from a “buy” rating to a “hold” rating in a report on Sunday, May 31st. Finally, Citigroup restated an “outperform” rating on shares of Precigen in a research report 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 given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $12.50.

Hedge Funds Weigh In On Precigen

Large investors have recently added to or reduced their stakes in the company. State of Wyoming bought a new stake in shares of Precigen in the first quarter valued at about $27,000. NBC Securities Inc. bought a new position in shares of Precigen during the fourth quarter worth about $38,000. Mason Investment Advisory Services Inc. bought a new position in shares of Precigen during the fourth quarter worth about $42,000. Abel Hall LLC acquired a new stake in Precigen in the 4th quarter valued at approximately $44,000. Finally, Royal Bank of Canada raised its position in Precigen by 102.6% in the 1st quarter. Royal Bank of Canada now owns 10,714 shares of the biotechnology company’s stock valued at $41,000 after buying an additional 5,426 shares during the last quarter. 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.