Precigen (NASDAQ:PGEN) Shares Gap Up – What’s Next?

Precigen, Inc. (NASDAQ:PGEN) gapped up prior to trading on Friday . The stock had previously closed at $4.14, but opened at $4.31. Precigen shares last traded at $4.2050, with a volume of 579,922 shares trading hands.

Wall Street Analyst Weigh In

Several research firms recently commented on PGEN. Wall Street Zen downgraded shares of Precigen from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. HC Wainwright increased their target price on Precigen from $8.50 to $9.00 and gave the stock a “buy” rating in a research report on Friday, November 14th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Precigen in a report on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $8.50.

Precigen Stock Up 3.7%

The company has a market cap of $1.52 billion, a PE ratio of -3.08 and a beta of 1.10. The stock has a 50-day moving average of $4.07 and a 200-day moving average of $3.42. The company has a quick ratio of 3.95, a current ratio of 4.04 and a debt-to-equity ratio of 2.22.

Precigen (NASDAQ:PGEN) last announced its earnings results on Thursday, November 13th. The biotechnology company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.03). The business had revenue of $2.92 million during the quarter, compared to the consensus estimate of $0.67 million. Precigen had a positive return on equity of 1,066.10% and a negative net margin of 3,912.92%. Sell-side analysts predict that Precigen, Inc. will post -0.32 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Randal J. Kirk sold 1,900,036 shares of the firm’s stock in a transaction on Monday, December 22nd. The shares were sold at an average price of $4.18, for a total transaction of $7,942,150.48. Following the sale, the director owned 341,189 shares in the company, valued at approximately $1,426,170.02. This trade represents a 84.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Over the last three months, insiders have sold 4,866,329 shares of company stock valued at $20,233,899. 47.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Precigen

Large investors have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd bought a new position in shares of Precigen during the 3rd quarter valued at about $39,000. Russell Investments Group Ltd. bought a new position in Precigen during the third quarter valued at approximately $41,000. Asempa Wealth Advisors purchased a new position in shares of Precigen during the fourth quarter worth approximately $48,000. Vontobel Holding Ltd. purchased a new position in shares of Precigen during the third quarter worth approximately $48,000. Finally, CIBC Bancorp USA Inc. bought a new stake in shares of Precigen in the 3rd quarter worth approximately $53,000. Hedge funds and other 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.