Precigen (NASDAQ:PGEN) Reaches New 52-Week High – Should You Buy?

Precigen, Inc. (NASDAQ:PGEN)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $5.47 and last traded at $5.21, with a volume of 9009402 shares traded. The stock had previously closed at $4.93.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PGEN. Zacks Research lowered Precigen from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 22nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Precigen in a report on Thursday, January 22nd. Wall Street Zen lowered Precigen from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Finally, HC Wainwright lifted their price target on shares of Precigen from $8.50 to $9.00 and gave the stock a “buy” rating in a research note on Friday, November 14th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $8.50.

Precigen Stock Up 5.7%

The company has a quick ratio of 3.95, a current ratio of 4.04 and a debt-to-equity ratio of 2.22. The company has a 50-day simple moving average of $4.40 and a two-hundred day simple moving average of $3.92. The stock has a market cap of $1.84 billion, a P/E ratio of -3.75 and a beta of 1.07.

Insiders Place Their Bets

In other news, Director Randal J. Kirk sold 1,900,036 shares of the company’s stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $4.18, for a total transaction of $7,942,150.48. Following the completion of the transaction, the director directly owned 341,189 shares of the company’s stock, valued at approximately $1,426,170.02. This represents a 84.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last three months, insiders have sold 3,780,176 shares of company stock worth $15,378,795. Corporate insiders own 47.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Xponance LLC lifted its holdings in Precigen by 21.3% in the 4th quarter. Xponance LLC now owns 14,191 shares of the biotechnology company’s stock worth $59,000 after buying an additional 2,496 shares during the period. BNP Paribas Financial Markets raised its holdings in shares of Precigen by 6.1% during the third quarter. BNP Paribas Financial Markets now owns 51,796 shares of the biotechnology company’s stock valued at $170,000 after acquiring an additional 2,993 shares in the last quarter. Composition Wealth LLC lifted its stake in Precigen by 16.5% in the fourth quarter. Composition Wealth LLC now owns 21,217 shares of the biotechnology company’s stock worth $89,000 after acquiring an additional 3,000 shares during the period. Intech Investment Management LLC boosted its holdings in Precigen by 5.2% in the fourth quarter. Intech Investment Management LLC now owns 63,018 shares of the biotechnology company’s stock valued at $263,000 after acquiring an additional 3,137 shares in the last quarter. Finally, Strs Ohio increased its position in Precigen by 6.8% during the 3rd quarter. Strs Ohio now owns 50,400 shares of the biotechnology company’s stock valued at $166,000 after purchasing an additional 3,200 shares during the period. Hedge funds and other institutional investors own 33.51% of the company’s stock.

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.