Precigen (NASDAQ:PGEN) Releases Quarterly Earnings Results

Precigen (NASDAQ:PGEN) released its quarterly earnings results on Wednesday. The biotechnology company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.09, FiscalAI reports. Precigen had a positive return on equity of 1,066.10% and a negative net margin of 3,912.92%.The company had revenue of $4.57 million for the quarter, compared to analyst estimates of $8.29 million.

Precigen Stock Down 1.0%

Shares of NASDAQ:PGEN traded down $0.03 during mid-day trading on Wednesday, reaching $3.10. 6,367,171 shares of the stock were exchanged, compared to its average volume of 4,049,288. 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 market cap of $1.10 billion, a P/E ratio of -2.23 and a beta of 1.10. Precigen has a one year low of $1.11 and a one year high of $5.47. The stock’s 50 day simple moving average is $4.13 and its 200-day simple moving average is $3.99.

Analyst Ratings Changes

PGEN has been the subject of a number of research reports. Zacks Research raised Precigen from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Precigen in a report on Thursday, January 22nd. Four analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Precigen has an average rating of “Hold” and an average target price of $8.50.

Institutional Investors Weigh In On Precigen

Several institutional investors have recently bought and sold shares of PGEN. AQR Capital Management LLC grew its stake in shares of Precigen by 216.9% during the 1st quarter. AQR Capital Management LLC now owns 63,179 shares of the biotechnology company’s stock worth $94,000 after acquiring an additional 43,245 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Precigen by 12.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 81,610 shares of the biotechnology company’s stock valued at $122,000 after purchasing an additional 9,043 shares during the last quarter. Strs Ohio bought a new stake in shares of Precigen in the first quarter worth $70,000. Geode Capital Management LLC lifted its position in shares of Precigen by 7.7% in the second quarter. Geode Capital Management LLC now owns 3,749,182 shares of the biotechnology company’s stock worth $5,325,000 after purchasing an additional 269,580 shares in the last quarter. Finally, Creative Planning boosted its holdings in Precigen by 127.8% during the second quarter. Creative Planning now owns 94,291 shares of the biotechnology company’s stock worth $134,000 after purchasing an additional 52,901 shares during the last quarter. 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.