UBS Group AG Boosts Stake in Precigen, Inc. $PGEN

UBS Group AG increased its stake in shares of Precigen, Inc. (NASDAQ:PGEN) by 41.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 891,428 shares of the biotechnology company’s stock after purchasing an additional 260,824 shares during the period. UBS Group AG’s holdings in Precigen were worth $3,726,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. BNP Paribas Financial Markets boosted its position in shares of Precigen by 6.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 51,796 shares of the biotechnology company’s stock worth $170,000 after purchasing an additional 2,993 shares during the period. Strs Ohio lifted its position in shares of Precigen by 6.8% during the third quarter. Strs Ohio now owns 50,400 shares of the biotechnology company’s stock worth $166,000 after purchasing an additional 3,200 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its position in shares of Precigen by 10.4% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 57,656 shares of the biotechnology company’s stock worth $241,000 after purchasing an additional 5,426 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Precigen by 49.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,194 shares of the biotechnology company’s stock worth $72,000 after purchasing an additional 5,674 shares in the last quarter. Finally, Rhumbline Advisers lifted its position in shares of Precigen by 3.7% during the second quarter. Rhumbline Advisers now owns 198,078 shares of the biotechnology company’s stock worth $281,000 after purchasing an additional 7,041 shares in the last quarter. Hedge funds and other institutional investors own 33.51% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on PGEN shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Precigen in a research report on Tuesday, April 21st. Citizens Jmp increased their price target on shares of Precigen from $9.00 to $11.00 and gave the stock a “market outperform” rating in a research report on Thursday, May 14th. Wall Street Zen raised shares of Precigen from a “hold” rating to a “buy” rating in a research report on Saturday. Citigroup reissued an “outperform” rating on shares of Precigen in a research report on Thursday, May 14th. Finally, Zacks Research raised shares of Precigen from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 10th. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $11.00.

Insider Buying and Selling

In other Precigen news, Director Randal J. Kirk sold 4,772,781 shares of the stock in a transaction that occurred on Monday, March 30th. The shares were sold at an average price of $3.30, for a total value of $15,750,177.30. Following the transaction, the director directly owned 302,213 shares in the company, valued at $997,302.90. This represents a 94.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 47.10% of the stock is owned by corporate insiders.

Precigen Stock Down 0.9%

Shares of NASDAQ:PGEN opened at $4.24 on Friday. The firm’s 50 day moving average price is $3.93 and its 200 day moving average price is $4.08. The stock has a market cap of $1.51 billion, a price-to-earnings ratio of -3.59 and a beta of 1.07. Precigen, Inc. has a fifty-two week low of $1.28 and a fifty-two week high of $5.47. The company has a quick ratio of 4.12, a current ratio of 4.82 and a debt-to-equity ratio of 4.62.

Precigen (NASDAQ:PGEN) last issued its earnings results on Wednesday, May 13th. The biotechnology company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.01. The firm had revenue of $23.25 million for the quarter, compared to analysts’ expectations of $20.81 million. Precigen had a negative net margin of 646.99% and a positive return on equity of 717.50%. As a group, equities research analysts predict that Precigen, Inc. will post 0.04 earnings per share for the current fiscal year.

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.