Precigen, Inc. (NASDAQ:PGEN) Stock Has Consensus Target Price of $14.50 According to Brokerages

Shares of Precigen, Inc. (NASDAQ:PGEN) have been assigned a consensus rating of “Moderate Buy” from the six research firms that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $13.67.

PGEN has been the subject of several recent analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Precigen in a research report on Friday, July 17th. Wall Street Zen upgraded shares of Precigen from a “hold” rating to a “strong-buy” rating in a report on Saturday, August 8th. B. Riley Financial started coverage on shares of Precigen in a research report on Friday. They set a “buy” rating and a $12.00 price target on the stock. Zacks Research upgraded Precigen from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 5th. Finally, HC Wainwright lifted their price objective on Precigen from $14.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th.

Precigen Stock Performance

Shares of PGEN stock opened at $7.75 on Wednesday. The stock has a market capitalization of $2.76 billion, a PE ratio of -7.45 and a beta of 1.02. The business’s 50 day simple moving average is $6.78 and its 200 day simple moving average is $5.17. The company has a debt-to-equity ratio of 2.15, a current ratio of 4.58 and a quick ratio of 3.89. Precigen has a one year low of $2.99 and a one year high of $8.27.

Precigen (NASDAQ:PGEN) last released its quarterly earnings results on Tuesday, August 4th. The biotechnology company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.06. The firm had revenue of $54.98 million during the quarter, compared to analyst estimates of $27.98 million. Precigen had a negative net margin of 183.98% and a positive return on equity of 423.75%. The business’s revenue was up 6322.7% on a year-over-year basis. As a group, research analysts forecast that Precigen will post 0.25 earnings per share for the current year.

Insiders Place Their Bets

In other Precigen news, Director Jeffrey B. Kindler sold 185,000 shares of Precigen stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $7.44, for a total value of $1,376,400.00. Following the completion of the sale, the director directly owned 17,100 shares in the company, valued at approximately $127,224. The trade was a 91.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Helen Sabzevari sold 346,836 shares of the business’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $5.89, for a total value of $2,042,864.04. Following the completion of the transaction, the chief executive officer directly owned 3,768,872 shares in the company, valued at approximately $22,198,656.08. This trade represents a 8.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 991,271 shares of company stock worth $6,208,620 in the last quarter. 41.40% of the stock is currently owned by company insiders.

Institutional Trading of Precigen

Hedge funds have recently modified their holdings of the stock. Cetera Investment Advisers grew its stake in shares of Precigen by 0.9% in the 1st quarter. Cetera Investment Advisers now owns 374,514 shares of the biotechnology company’s stock valued at $1,449,000 after buying an additional 3,250 shares during the period. Arizona State Retirement System raised its stake in Precigen by 10.5% during the 2nd quarter. Arizona State Retirement System now owns 53,713 shares of the biotechnology company’s stock worth $306,000 after buying an additional 5,086 shares during the period. Royal Bank of Canada raised its stake in Precigen by 102.6% during the 1st quarter. Royal Bank of Canada now owns 10,714 shares of the biotechnology company’s stock worth $41,000 after buying an additional 5,426 shares during the period. State of Wyoming bought a new position in Precigen in the first quarter worth approximately $27,000. Finally, Chicago Partners Investment Group LLC bought a new position in Precigen in the first quarter worth approximately $43,000. Institutional investors own 33.51% of the company’s stock.

About Precigen

Precigen, Inc (NASDAQ:PGEN) is a biotechnology company focused on developing gene and cell therapies for cancer and other serious diseases. The company uses its synthetic biology platforms to engineer targeted medicines designed to improve treatment effectiveness, durability and safety.

Precigen’s technology portfolio includes its UltraCAR-T platform for developing next-generation CAR-T cell therapies, the AdenoVerse platform for gene delivery and immunotherapy applications, and ActoBiotics technology for the localized delivery of therapeutic proteins.