Precigen (NASDAQ:PGEN) Trading 6.9% Higher – Should You Buy?

Precigen, Inc. (NASDAQ:PGEN) rose 6.9% during mid-day trading on Friday . The stock traded as high as $1.89 and last traded at $1.93. Approximately 497,440 shares traded hands during mid-day trading, a decline of 57% from the average daily volume of 1,169,419 shares. The stock had previously closed at $1.80.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. JMP Securities reissued a “market outperform” rating and set a $5.00 price objective on shares of Precigen in a research note on Tuesday, January 14th. HC Wainwright reissued a “buy” rating and issued a $6.00 price objective on shares of Precigen in a research report on Thursday. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $7.00.

Precigen Stock Performance

The business’s 50 day moving average price is $1.61 and its two-hundred day moving average price is $1.15. The company has a market capitalization of $532.22 million, a price-to-earnings ratio of -3.29 and a beta of 1.58.

Precigen (NASDAQ:PGEN) last released its earnings results on Wednesday, March 19th. The biotechnology company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.02. The business had revenue of $1.19 million for the quarter, compared to the consensus estimate of $1.30 million. Precigen had a negative net margin of 3,521.68% and a negative return on equity of 123.06%. On average, sell-side analysts expect that Precigen, Inc. will post -0.32 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PGEN. ProShare Advisors LLC boosted its holdings in shares of Precigen by 26.6% during the 4th quarter. ProShare Advisors LLC now owns 51,822 shares of the biotechnology company’s stock worth $58,000 after buying an additional 10,900 shares in the last quarter. Cetera Investment Advisers raised its holdings in shares of Precigen by 8.9% during the 4th quarter. Cetera Investment Advisers now owns 283,562 shares of the biotechnology company’s stock valued at $318,000 after buying an additional 23,250 shares in the last quarter. Cary Street Partners Financial LLC bought a new stake in Precigen in the fourth quarter worth $98,000. Bank of America Corp DE boosted its position in Precigen by 11.6% in the 4th quarter. Bank of America Corp DE now owns 207,300 shares of the biotechnology company’s stock worth $232,000 after purchasing an additional 21,626 shares in the last quarter. Finally, BNP Paribas Financial Markets acquired a new position in Precigen in the 4th quarter valued at about $27,000. Institutional investors and hedge funds own 33.51% of the company’s stock.

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.