Precigen (NASDAQ:PGEN) COO Rutul Shah Sells 42,924 Shares of Stock

Precigen, Inc. (NASDAQ:PGEN) COO Rutul Shah sold 42,924 shares of the firm’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $5.85, for a total value of $251,105.40. Following the sale, the chief operating officer directly owned 497,751 shares in the company, valued at $2,911,843.35. This trade represents a 7.94% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Precigen Stock Down 7.9%

Shares of Precigen stock traded down $0.45 during trading hours on Wednesday, hitting $5.25. The company had a trading volume of 7,446,304 shares, compared to its average volume of 4,558,847. The company’s 50-day moving average is $4.40 and its two-hundred day moving average is $4.21. Precigen, Inc. has a twelve month low of $1.45 and a twelve month high of $6.04. 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 company has a market cap of $1.87 billion, a P/E ratio of -4.45 and a beta of 1.06.

Precigen (NASDAQ:PGEN) last announced its quarterly earnings results 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. The firm had revenue of $23.25 million during 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%. Analysts anticipate that Precigen, Inc. will post -0.02 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Precigen

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. State Street Corp increased its stake in Precigen by 141.1% in the 4th quarter. State Street Corp now owns 10,824,860 shares of the biotechnology company’s stock valued at $45,248,000 after buying an additional 6,335,033 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Precigen by 15.9% in the fourth quarter. Geode Capital Management LLC now owns 4,462,078 shares of the biotechnology company’s stock valued at $18,653,000 after acquiring an additional 613,340 shares in the last quarter. Occam Crest Management LP increased its stake in shares of Precigen by 29.6% during the fourth quarter. Occam Crest Management LP now owns 3,501,739 shares of the biotechnology company’s stock worth $14,637,000 after acquiring an additional 799,339 shares during the period. SymBiosis Capital Partners LLC acquired a new position in shares of Precigen during the fourth quarter worth about $12,540,000. Finally, Bank of America Corp DE raised its holdings in Precigen by 201.1% during the third quarter. Bank of America Corp DE now owns 2,505,992 shares of the biotechnology company’s stock worth $8,245,000 after purchasing an additional 1,673,731 shares in the last quarter. 33.51% of the stock is currently owned by hedge funds and other institutional investors.

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.