Precigen (NASDAQ:PGEN) Stock Price Up 5.1% – Still a Buy?

Precigen, Inc. (NASDAQ:PGEN) rose 5.1% during mid-day trading on Monday . The stock traded as high as $4.30 and last traded at $4.3710. Approximately 865,979 shares changed hands during trading, a decline of 80% from the average daily volume of 4,301,535 shares. The stock had previously closed at $4.16.

Analyst Ratings Changes

Several analysts recently issued reports on PGEN shares. Wall Street Zen downgraded Precigen from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Precigen in a report on Wednesday, October 8th. Finally, HC Wainwright increased their price target on Precigen from $8.50 to $9.00 and gave the stock a “buy” rating in a report on Friday, November 14th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $8.50.

Precigen Stock Up 6.1%

The company has a debt-to-equity ratio of 2.22, a quick ratio of 3.95 and a current ratio of 4.04. The business’s 50 day moving average is $3.99 and its 200 day moving average is $3.16. The company has a market capitalization of $1.56 billion, a price-to-earnings ratio of -3.17 and a beta of 1.16.

Precigen (NASDAQ:PGEN) last posted its earnings results on Thursday, November 13th. The biotechnology company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.03). The business had revenue of $2.92 million for the quarter, compared to analyst estimates of $0.67 million. Precigen had a negative net margin of 3,912.92% and a positive return on equity of 1,066.10%. Sell-side analysts anticipate that Precigen, Inc. will post -0.32 earnings per share for the current year.

Insider Activity

In related news, Director Jeffrey B. Kindler sold 106,837 shares of the stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $3.38, for a total value of $361,109.06. Following the completion of the sale, the director owned 346,070 shares of the company’s stock, valued at approximately $1,169,716.60. This trade represents a 23.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Randal J. Kirk sold 1,900,036 shares of the firm’s stock in a transaction dated Monday, December 22nd. The stock was sold at an average price of $4.18, for a total transaction of $7,942,150.48. Following the sale, the director owned 341,189 shares of the company’s stock, valued at approximately $1,426,170.02. The trade was a 84.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 6,782,833 shares of company stock worth $26,765,972. Insiders own 47.10% of the company’s stock.

Hedge Funds Weigh In On Precigen

A number of institutional investors have recently modified their holdings of PGEN. Hudson Bay Capital Management LP purchased a new stake in Precigen in the 3rd quarter valued at approximately $66,000. CIBC Bancorp USA Inc. purchased a new position in shares of Precigen during the 3rd quarter worth about $53,000. Caitong International Asset Management Co. Ltd acquired a new position in Precigen in the third quarter valued at $39,000. Voleon Capital Management LP acquired a new position in Precigen during the third quarter valued at approximately $483,000. Finally, Prelude Capital Management LLC raised its holdings in shares of Precigen by 105.6% during the 3rd quarter. Prelude Capital Management LLC now owns 269,511 shares of the biotechnology company’s stock valued at $887,000 after buying an additional 138,421 shares during the period. 33.51% of the stock is owned by institutional investors and hedge funds.

Precigen Company Profile

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.