Rutul Shah Sells 42,703 Shares of Precigen (NASDAQ:PGEN) Stock

Precigen, Inc. (NASDAQ:PGEN) COO Rutul Shah sold 42,703 shares of the firm’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $4.36, for a total transaction of $186,185.08. Following the completion of the sale, the chief operating officer owned 497,751 shares in the company, valued at $2,170,194.36. The trade was a 7.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Precigen Price Performance

Shares of PGEN opened at $3.86 on Wednesday. Precigen, Inc. has a twelve month low of $1.28 and a twelve month high of $5.47. The firm’s fifty day simple moving average is $4.04 and its 200-day simple moving average is $4.10. The firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of -3.27 and a beta of 1.06. 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 (NASDAQ:PGEN) last announced its quarterly earnings data on Wednesday, May 13th. The biotechnology company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.01. Precigen had a negative net margin of 646.99% and a positive return on equity of 717.50%. The business had revenue of $23.25 million for the quarter, compared to analyst estimates of $20.81 million. Equities analysts forecast that Precigen, Inc. will post 0.04 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PGEN. State of Wyoming purchased a new position in Precigen during the 1st quarter worth $27,000. NBC Securities Inc. purchased a new position in Precigen during the 4th quarter worth $38,000. Caitong International Asset Management Co. Ltd purchased a new position in Precigen during the 3rd quarter worth $39,000. Royal Bank of Canada grew its position 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 purchasing an additional 5,426 shares during the last quarter. Finally, Russell Investments Group Ltd. purchased a new position in Precigen during the 3rd quarter worth $41,000. 33.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PGEN has been the topic of a number of recent analyst reports. Citizens Jmp increased their target price on shares of Precigen from $9.00 to $11.00 and gave the company a “market outperform” rating in a research report on Thursday, May 14th. Citigroup reaffirmed an “outperform” rating on shares of Precigen in a research report on Thursday, May 14th. Zacks Research raised shares of Precigen from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 10th. HC Wainwright increased their target price on shares of Precigen from $11.00 to $14.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. Finally, Wall Street Zen downgraded shares of Precigen from a “buy” rating to a “hold” rating in a research report on Sunday. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Precigen currently has a consensus rating of “Hold” and a consensus price target of $12.50.

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.