Citizens Jmp Forecasts Strong Price Appreciation for Precigen (NASDAQ:PGEN) Stock

Precigen (NASDAQ:PGEN) had its target price boosted by equities researchers at Citizens Jmp from $9.00 to $11.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “market outperform” rating on the biotechnology company’s stock. Citizens Jmp’s target price points to a potential upside of 138.46% from the company’s current price.

PGEN has been the topic of a number of other reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Precigen in a research report on Tuesday, April 21st. Citigroup reissued an “outperform” rating on shares of Precigen in a research note on Thursday. Zacks Research raised shares of Precigen from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 10th. Wall Street Zen upgraded shares of Precigen from a “sell” rating to a “hold” rating in a report on Saturday, March 28th. Finally, HC Wainwright boosted their price target on Precigen from $10.00 to $11.00 and gave the stock a “buy” rating in a research report on Thursday. Four 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $11.00.

Precigen Stock Up 11.2%

Shares of PGEN traded up $0.46 on Thursday, reaching $4.61. The stock had a trading volume of 2,719,771 shares, compared to its average volume of 4,174,576. The firm has a market capitalization of $1.64 billion, a price-to-earnings ratio of -3.47 and a beta of 1.07. The company has a debt-to-equity ratio of 4.46, a quick ratio of 2.83 and a current ratio of 3.09. The company has a 50-day simple moving average of $3.81 and a 200-day simple moving average of $4.07. Precigen has a 12-month low of $1.26 and a 12-month high of $5.47.

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 the consensus estimate of ($0.03) by $0.01. The company had revenue of $23.25 million for the quarter, compared to analysts’ expectations of $20.81 million. Precigen had a positive return on equity of 2,317.96% and a negative net margin of 2,588.21%. Sell-side analysts predict that Precigen will post 0.02 EPS for the current year.

Insider Activity

In other Precigen news, Director Randal J. Kirk sold 4,772,781 shares of the company’s stock in a transaction dated Monday, March 30th. The shares were sold at an average price of $3.30, for a total transaction of $15,750,177.30. Following the transaction, the director owned 302,213 shares in the company, valued at approximately $997,302.90. This represents a 94.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 47.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Precigen

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Xponance LLC raised its position in Precigen by 21.3% in the fourth quarter. Xponance LLC now owns 14,191 shares of the biotechnology company’s stock worth $59,000 after acquiring an additional 2,496 shares during the period. BNP Paribas Financial Markets boosted its holdings in Precigen by 6.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 51,796 shares of the biotechnology company’s stock worth $170,000 after buying an additional 2,993 shares during the period. Composition Wealth LLC boosted its stake in shares of Precigen by 16.5% in the fourth quarter. Composition Wealth LLC now owns 21,217 shares of the biotechnology company’s stock worth $89,000 after acquiring an additional 3,000 shares during the period. Intech Investment Management LLC boosted its stake in Precigen by 5.2% in the 4th quarter. Intech Investment Management LLC now owns 63,018 shares of the biotechnology company’s stock worth $263,000 after purchasing an additional 3,137 shares during the period. Finally, Strs Ohio boosted its stake in Precigen by 6.8% in the 3rd quarter. Strs Ohio now owns 50,400 shares of the biotechnology company’s stock worth $166,000 after purchasing an additional 3,200 shares during the period. Hedge funds and other 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.