Precigen, Inc. (NASDAQ:PGEN) Receives $8.50 Consensus Price Target from Analysts

Shares of Precigen, Inc. (NASDAQ:PGEN) have earned a consensus recommendation of “Hold” from the seven ratings firms that are currently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $8.50.

A number of equities analysts have recently commented on PGEN shares. HC Wainwright boosted their price objective on Precigen from $8.50 to $9.00 and gave the stock a “buy” rating in a research report on Friday, November 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Precigen in a report on Thursday, January 22nd. Wall Street Zen lowered shares of Precigen from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Finally, Zacks Research downgraded shares of Precigen from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 22nd.

Insider Transactions at Precigen

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 stock was 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 47.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Precigen

Institutional investors have recently added to or reduced their stakes in the business. Investment Insight Wealth Management LLC acquired a new position in Precigen in the fourth quarter valued at approximately $443,000. Invesco Ltd. increased its stake in Precigen by 250.8% in the fourth quarter. Invesco Ltd. now owns 373,782 shares of the biotechnology company’s stock valued at $1,562,000 after purchasing an additional 267,223 shares during the last quarter. NewEdge Advisors LLC acquired a new stake in Precigen during the fourth quarter worth approximately $45,000. XTX Topco Ltd raised its holdings in Precigen by 25.2% during the fourth quarter. XTX Topco Ltd now owns 49,668 shares of the biotechnology company’s stock worth $208,000 after purchasing an additional 10,005 shares in the last quarter. Finally, VARCOV Co. purchased a new stake in shares of Precigen during the 4th quarter worth approximately $224,000. Hedge funds and other institutional investors own 33.51% of the company’s stock.

Precigen Trading Down 2.6%

PGEN opened at $3.42 on Friday. The business has a fifty day moving average price of $4.32 and a 200 day moving average price of $4.06. The company has a debt-to-equity ratio of 2.22, a current ratio of 4.04 and a quick ratio of 3.95. Precigen has a 12 month low of $1.11 and a 12 month high of $5.47. The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of -2.46 and a beta of 1.10.

About Precigen

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.