Precigen, Inc. (NASDAQ:PGEN) Given Consensus Rating of “Moderate Buy” by Brokerages

Precigen, Inc. (NASDAQ:PGEN) has been given an average recommendation of “Moderate Buy” by the five brokerages that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $7.00.

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

Precigen Stock Performance

NASDAQ:PGEN opened at $0.90 on Friday. The firm’s fifty day moving average is $1.04 and its two-hundred day moving average is $1.33. The firm has a market cap of $226.82 million, a price-to-earnings ratio of -2.30 and a beta of 1.66. Precigen has a one year low of $0.82 and a one year high of $1.93.

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

Insiders Place Their Bets

In related news, SVP Jeffrey Thomas Perez bought 58,823 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was acquired at an average price of $0.85 per share, with a total value of $49,999.55. Following the completion of the purchase, the senior vice president now directly owns 743,097 shares of the company’s stock, valued at approximately $631,632.45. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 44.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Precigen

Hedge funds and other institutional investors have recently made changes to their positions in the company. Sanders Morris Harris LLC purchased a new position in Precigen in the 1st quarter valued at $1,022,000. Cetera Advisors LLC purchased a new position in shares of Precigen in the first quarter worth about $367,000. Renaissance Technologies LLC boosted its position in Precigen by 12.4% during the second 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. Iridian Asset Management LLC CT grew its stake in Precigen by 4.3% during the 1st quarter. Iridian Asset Management LLC CT now owns 2,091,274 shares of the biotechnology company’s stock valued at $3,032,000 after acquiring an additional 86,340 shares in the last quarter. Finally, Fisher Asset Management LLC purchased a new stake in Precigen during the 4th quarter valued at about $29,000. Hedge funds and other 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.