Precigen (NASDAQ:PGEN) Stock Price Up 7.7% – Time to Buy?

Precigen, Inc. (NASDAQ:PGEN) shares shot up 7.7% during trading on Monday . The company traded as high as $5.22 and last traded at $5.1920. Approximately 1,982,514 shares changed hands during trading, a decline of 55% from the average daily volume of 4,380,153 shares. The stock had previously closed at $4.82.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PGEN. Zacks Research raised Precigen from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 10th. Wall Street Zen downgraded Precigen from a “buy” rating to a “hold” rating in a report on Sunday, May 31st. Citigroup reissued an “outperform” rating on shares of Precigen in a research note on Thursday, May 14th. Weiss Ratings restated a “sell (d-)” rating on shares of Precigen in a report on Tuesday, April 21st. Finally, HC Wainwright boosted their target price on Precigen from $11.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $12.50.

Precigen Trading Up 8.8%

The company has a market capitalization of $1.87 billion, a P/E ratio of -4.46 and a beta of 1.06. The company has a debt-to-equity ratio of 4.62, a current ratio of 4.82 and a quick ratio of 4.12. The business’s 50-day moving average price is $4.19 and its two-hundred day moving average price is $4.11.

Precigen (NASDAQ:PGEN) last issued its quarterly earnings data on Wednesday, May 13th. The biotechnology company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.03) by $0.01. The business had revenue of $23.25 million for the quarter, compared to the consensus estimate of $20.81 million. Precigen had a positive return on equity of 717.50% and a negative net margin of 646.99%. As a group, analysts forecast that Precigen, Inc. will post -0.02 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Helen Sabzevari sold 119,250 shares of the stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $4.36, for a total transaction of $519,930.00. Following the completion of the sale, the chief executive officer directly owned 3,768,872 shares of the company’s stock, valued at approximately $16,432,281.92. This represents a 3.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Donald P. Lehr sold 29,131 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $4.36, for a total transaction of $127,011.16. Following the completion of the transaction, the insider owned 755,461 shares of the company’s stock, valued at $3,293,809.96. This trade represents a 3.71% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 5,005,749 shares of company stock worth $16,765,918 in the last three months. 41.40% of the stock is owned by corporate insiders.

Institutional Trading of Precigen

Several hedge funds and other institutional investors have recently modified their holdings of PGEN. State Street Corp boosted its position in shares of Precigen by 141.1% during the fourth quarter. State Street Corp now owns 10,824,860 shares of the biotechnology company’s stock worth $45,248,000 after buying an additional 6,335,033 shares during the period. SymBiosis Capital Partners LLC bought a new stake in Precigen in the 4th quarter valued at approximately $12,540,000. Bank of America Corp DE lifted its stake in Precigen by 201.1% in the 3rd quarter. Bank of America Corp DE now owns 2,505,992 shares of the biotechnology company’s stock valued at $8,245,000 after acquiring an additional 1,673,731 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Precigen by 196.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,173,933 shares of the biotechnology company’s stock worth $9,087,000 after acquiring an additional 1,440,446 shares during the last quarter. Finally, Boxer Capital Management LLC acquired a new position in Precigen during the 3rd quarter worth approximately $2,796,000. Institutional investors and hedge funds 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.