Precigen (NASDAQ:PGEN) Trading Down 5.5% – Here’s Why

Precigen, Inc. (NASDAQ:PGEN)’s share price fell 5.5% on Friday . The company traded as low as $6.09 and last traded at $6.1350. 4,476,032 shares traded hands during mid-day trading, a decline of 3% from the average session volume of 4,618,531 shares. The stock had previously closed at $6.49.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PGEN. Zacks Research raised shares of Precigen from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 5th. Citigroup reissued an “outperform” rating on shares of Precigen in a report on Thursday, May 14th. Wall Street Zen upgraded Precigen from a “hold” rating to a “strong-buy” rating in a research report on Saturday, August 8th. Citizens Jmp increased their target price on Precigen from $9.00 to $11.00 and gave the company a “market outperform” rating in a research report on Thursday, May 14th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Precigen in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $14.50.

Precigen Stock Performance

The firm has a market capitalization of $2.17 billion, a P/E ratio of -5.87 and a beta of 1.02. The company has a 50-day moving average of $5.51 and a 200-day moving average of $4.57. The company has a current ratio of 4.58, a quick ratio of 3.89 and a debt-to-equity ratio of 2.15.

Precigen (NASDAQ:PGEN) last released its quarterly earnings results on Tuesday, August 4th. The biotechnology company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.06. Precigen had a positive return on equity of 423.75% and a negative net margin of 183.98%.The firm had revenue of $54.98 million for the quarter, compared to analyst estimates of $27.98 million. The company’s revenue for the quarter was up 6322.7% compared to the same quarter last year. On average, equities analysts anticipate that Precigen, Inc. will post 0.25 earnings per share for the current fiscal year.

Insider Activity

In other Precigen news, insider Donald P. Lehr sold 29,131 shares of the firm’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 in the company, valued at approximately $3,293,809.96. This trade represents a 3.71% 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, CEO Helen Sabzevari sold 346,836 shares of the business’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $5.89, for a total transaction of $2,042,864.04. Following the completion of the transaction, the chief executive officer owned 3,768,872 shares in the company, valued at $22,198,656.08. This trade represents a 8.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 989,239 shares of company stock worth $5,472,960. 41.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Precigen

Several hedge funds and other institutional investors have recently bought and sold shares of PGEN. KBC Group NV bought a new stake in shares of Precigen during the 1st quarter valued at about $1,338,000. Occam Crest Management LP increased its holdings in Precigen by 29.6% in the fourth quarter. Occam Crest Management LP now owns 3,501,739 shares of the biotechnology company’s stock worth $14,637,000 after purchasing an additional 799,339 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in Precigen in the first quarter worth approximately $1,531,000. UBS Group AG lifted its stake in Precigen by 41.4% in the fourth quarter. UBS Group AG now owns 891,428 shares of the biotechnology company’s stock valued at $3,726,000 after buying an additional 260,824 shares during the period. Finally, Investment Insight Wealth Management LLC acquired a new position in Precigen in the fourth quarter valued at approximately $443,000. Institutional investors and hedge funds 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.