Precigen (NASDAQ:PGEN) CFO Harry Jr. Thomasian Sells 28,571 Shares

Precigen, Inc. (NASDAQ:PGEN) CFO Harry Jr. Thomasian sold 28,571 shares of the firm’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $5.78, for a total value of $165,140.38. Following the completion of the sale, the chief financial officer directly owned 525,964 shares in the company, valued at $3,040,071.92. The trade was a 5.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Harry Jr. Thomasian also recently made the following trade(s):

• On Wednesday, July 1st, Harry Jr. Thomasian sold 171,429 shares of Precigen stock. The shares were sold at an average price of $5.53, for a total transaction of $948,002.37.
• On Thursday, May 28th, Harry Jr. Thomasian sold 41,884 shares of Precigen stock. The shares were sold at an average price of $4.36, for a total transaction of $182,614.24.

Precigen Stock Down 7.9%

PGEN stock opened at $5.25 on Thursday. Precigen, Inc. has a fifty-two week low of $1.45 and a fifty-two week high of $6.04. The company has a market capitalization of $1.87 billion, a price-to-earnings ratio of -4.45 and a beta of 1.00. The business’s 50 day moving average price is $4.43 and its two-hundred day moving average price is $4.22. The company has a debt-to-equity ratio of 4.62, a quick ratio of 4.12 and a current ratio of 4.82.

Precigen (NASDAQ:PGEN) last released its earnings results on Wednesday, May 13th. The biotechnology company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.01. Precigen had a positive return on equity of 717.50% and a negative net margin of 646.99%.The company had revenue of $23.25 million during the quarter, compared to analysts’ expectations of $20.81 million. As a group, analysts forecast that Precigen, Inc. will post -0.02 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Precigen

A number of hedge funds have recently bought and sold shares of the company. State of Wyoming purchased a new stake in Precigen during the 1st quarter valued at about $27,000. NBC Securities Inc. purchased a new position in Precigen in the fourth quarter worth about $38,000. Mason Investment Advisory Services Inc. bought a new position in shares of Precigen in the fourth quarter worth approximately $42,000. Abel Hall LLC bought a new stake in shares of Precigen during the fourth quarter valued at approximately $44,000. Finally, Royal Bank of Canada raised its holdings in Precigen by 102.6% in the 1st quarter. Royal Bank of Canada now owns 10,714 shares of the biotechnology company’s stock worth $41,000 after acquiring an additional 5,426 shares during the last quarter. Institutional investors own 33.51% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on PGEN. Weiss Ratings restated a “sell (d-)” rating on shares of Precigen in a report on Tuesday, April 21st. Citigroup reiterated an “outperform” rating on shares of Precigen in a research note on Thursday, May 14th. HC Wainwright boosted their price objective on shares of Precigen from $11.00 to $14.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Zacks Research upgraded shares of Precigen from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 10th. Finally, Citizens Jmp raised their target price on shares of Precigen from $9.00 to $11.00 and gave the company a “market outperform” rating in a research note on Thursday, May 14th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $12.50.

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.