Precigen, Inc. (NASDAQ:PGEN) Receives $7.00 Consensus Price Target from Brokerages

Shares of Precigen, Inc. (NASDAQ:PGEN) have earned a consensus recommendation of “Moderate Buy” from the five analysts that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation and four have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $7.00.

Several equities analysts recently issued reports on the company. StockNews.com raised Precigen to a “sell” rating in a research report on Thursday, August 1st. JMP Securities lowered their price target on Precigen from $14.00 to $7.00 and set a “market outperform” rating on the stock in a report on Thursday, August 15th. Finally, HC Wainwright reduced their price objective on Precigen from $6.00 to $4.00 and set a “buy” rating for the company in a report on Thursday, August 15th.

Precigen Price Performance

Shares of Precigen stock opened at $0.98 on Wednesday. Precigen has a 1 year low of $0.79 and a 1 year high of $1.93. The firm’s 50-day moving average is $0.93 and its 200 day moving average is $1.26. The stock has a market cap of $246.65 million, a price-to-earnings ratio of -1.81 and a beta of 1.68.

Precigen (NASDAQ:PGEN) last issued its earnings results on Wednesday, August 14th. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.01). Precigen had a negative return on equity of 90.99% and a negative net margin of 3,084.55%. The firm had revenue of $0.72 million during the quarter, compared to the consensus estimate of $1.28 million. On average, equities analysts expect that Precigen will post -0.44 EPS for the current fiscal year.

Hedge Funds Weigh In On Precigen

Several hedge funds and other institutional investors have recently modified their holdings of the company. Iridian Asset Management LLC CT boosted its holdings in shares of Precigen by 82.5% in the third quarter. Iridian Asset Management LLC CT now owns 3,775,960 shares of the biotechnology company’s stock worth $3,576,000 after buying an additional 1,706,815 shares during the last quarter. Cetera Advisors LLC bought a new position in Precigen in the first quarter worth approximately $367,000. Renaissance Technologies LLC boosted its stake in shares of Precigen by 12.4% during the 2nd quarter. Renaissance Technologies LLC now owns 1,182,690 shares of the biotechnology company’s stock worth $1,869,000 after acquiring an additional 130,500 shares during the last quarter. Mill Creek Capital Advisors LLC bought a new stake in shares of Precigen during the 3rd quarter valued at $104,000. Finally, LexAurum Advisors LLC grew its position in shares of Precigen by 13.8% during the 3rd quarter. LexAurum Advisors LLC now owns 274,489 shares of the biotechnology company’s stock valued at $260,000 after acquiring an additional 33,300 shares during the period. 33.51% of the stock is owned by institutional investors.

Precigen Company Profile

Precigen, Inc operates as a discovery and clinical-stage biopharmaceutical company that develops gene and cell therapies using precision technology to target diseases in therapeutic areas of immuno-oncology, autoimmune disorders, and infectious diseases. It operates through two segments, Biopharmaceuticals and Exemplar.