Precigen’s (PGEN) Buy Rating Reiterated at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Precigen (NASDAQ:PGEN) in a research report sent to investors on Thursday,Benzinga reports. HC Wainwright currently has a $6.00 target price on the biotechnology company’s stock. HC Wainwright also issued estimates for Precigen’s FY2027 earnings at $0.18 EPS, FY2028 earnings at $0.40 EPS and FY2029 earnings at $0.66 EPS.

Separately, JMP Securities reissued a “market outperform” rating and issued a $5.00 price target on shares of Precigen in a research note on Tuesday, January 14th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $7.00.

Precigen Price Performance

Shares of NASDAQ PGEN opened at $1.81 on Thursday. Precigen has a 1-year low of $0.65 and a 1-year high of $2.17. The business’s fifty day moving average price is $1.61 and its two-hundred day moving average price is $1.15. The firm has a market capitalization of $532.22 million, a PE ratio of -3.29 and a beta of 1.58.

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of Precigen by 11.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,222,850 shares of the biotechnology company’s stock valued at $1,158,000 after purchasing an additional 127,467 shares during the last quarter. FMR LLC lifted its holdings in shares of Precigen by 26.4% during the third quarter. FMR LLC now owns 345,204 shares of the biotechnology company’s stock valued at $327,000 after purchasing an additional 72,033 shares during the last quarter. HighTower Advisors LLC lifted its stake in Precigen by 186.8% in the 3rd quarter. HighTower Advisors LLC now owns 192,144 shares of the biotechnology company’s stock worth $179,000 after acquiring an additional 125,145 shares in the last quarter. Stifel Financial Corp raised its stake in shares of Precigen by 94.9% during the 3rd quarter. Stifel Financial Corp now owns 32,200 shares of the biotechnology company’s stock worth $30,000 after purchasing an additional 15,680 shares in the last quarter. Finally, State Street Corp raised its stake in shares of Precigen by 1.0% during the 3rd quarter. State Street Corp now owns 2,872,064 shares of the biotechnology company’s stock worth $2,720,000 after purchasing an additional 29,253 shares in the last quarter. Institutional investors own 33.51% of the company’s stock.

About Precigen

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.