Precigen (NASDAQ:PGEN) Director Jeffrey Kindler Sells 185,000 Shares

Precigen, Inc. (NASDAQ:PGEN) Director Jeffrey Kindler sold 185,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $7.44, for a total value of $1,376,400.00. Following the transaction, the director owned 17,100 shares of the company’s stock, valued at approximately $127,224. This trade represents a 91.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Precigen Stock Performance

NASDAQ PGEN traded down $0.24 on Friday, reaching $6.95. 2,702,916 shares of the stock were exchanged, compared to its average volume of 6,560,138. Precigen, Inc. has a one year low of $2.99 and a one year high of $7.72. The firm has a market capitalization of $2.48 billion, a PE ratio of -6.68 and a beta of 1.02. The company’s 50-day simple moving average is $6.05 and its two-hundred day simple moving average is $4.75. 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 issued its quarterly earnings results on Tuesday, August 4th. The biotechnology company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.06. The business had revenue of $54.98 million for the quarter, compared to the consensus estimate of $27.98 million. Precigen had a negative net margin of 183.98% and a positive return on equity of 423.75%. The business’s quarterly revenue was up 6322.7% compared to the same quarter last year. Analysts expect that Precigen, Inc. will post 0.25 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on PGEN shares. HC Wainwright lifted their target price on shares of Precigen from $14.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Zacks Research upgraded Precigen from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 5th. Citizens Jmp raised their price target on Precigen from $9.00 to $11.00 and gave the company a “market outperform” rating in a report on Thursday, May 14th. Citigroup restated an “outperform” rating on shares of Precigen in a research report on Thursday, May 14th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Precigen in a research note on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Precigen has an average rating of “Moderate Buy” and a consensus price target of $14.50.

Hedge Funds Weigh In On Precigen

Several institutional investors have recently bought and sold shares of the stock. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Precigen in the 2nd quarter valued at $227,000. California State Teachers Retirement System lifted its stake in Precigen by 622.5% in the 2nd quarter. California State Teachers Retirement System now owns 1,236,889 shares of the biotechnology company’s stock worth $7,050,000 after purchasing an additional 1,065,700 shares in the last quarter. Syon Capital LLC bought a new position in shares of Precigen during the 2nd quarter valued at about $86,000. AXQ Capital LP boosted its holdings in shares of Precigen by 223.7% during the 2nd quarter. AXQ Capital LP now owns 116,978 shares of the biotechnology company’s stock valued at $667,000 after purchasing an additional 80,837 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in shares of Precigen by 9.2% during the second quarter. Wellington Management Group LLP now owns 555,230 shares of the biotechnology company’s stock valued at $3,165,000 after purchasing an additional 46,796 shares in the last quarter. 33.51% of the stock is 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.