Insider Selling: Precigen (NASDAQ:PGEN) COO Sells $251,105.40 in Stock

Precigen, Inc. (NASDAQ:PGEN) COO Rutul Shah sold 42,924 shares of the business’s stock in a transaction on Monday, June 29th. The stock was sold at an average price of $5.85, for a total value of $251,105.40. Following the transaction, the chief operating officer directly owned 497,751 shares in the company, valued at $2,911,843.35. This trade represents a 7.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Precigen Price Performance

Shares of NASDAQ:PGEN opened at $5.64 on Friday. Precigen, Inc. has a 52-week low of $1.47 and a 52-week high of $6.04. The stock has a market cap of $2.01 billion, a P/E ratio of -4.78 and a beta of 1.00. The business has a fifty day moving average of $4.49 and a two-hundred day moving average of $4.25. The company has a quick ratio of 4.12, a current ratio of 4.82 and a debt-to-equity ratio of 4.62.

Precigen (NASDAQ:PGEN) last posted its quarterly earnings results on Wednesday, May 13th. The biotechnology company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.03) by $0.01. The business had revenue of $23.25 million for the quarter, compared to analyst estimates of $20.81 million. Precigen had a positive return on equity of 717.50% and a negative net margin of 646.99%. On average, research analysts expect that Precigen, Inc. will post -0.02 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have weighed in on PGEN. Citigroup reiterated an “outperform” rating on shares of Precigen in a report on Thursday, May 14th. HC Wainwright raised their price target on shares of Precigen from $11.00 to $14.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Wall Street Zen lowered shares of Precigen from a “buy” rating to a “hold” rating in a research report on Sunday, May 31st. Zacks Research upgraded Precigen from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 10th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Precigen in a report on Tuesday, April 21st. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $12.50.

Institutional Trading of Precigen

Institutional investors and hedge funds have recently bought and sold shares of the stock. AQR Capital Management LLC boosted its stake in Precigen by 216.9% during the first quarter. AQR Capital Management LLC now owns 63,179 shares of the biotechnology company’s stock worth $94,000 after buying an additional 43,245 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Precigen by 12.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 81,610 shares of the biotechnology company’s stock valued at $122,000 after acquiring an additional 9,043 shares during the period. Strs Ohio purchased a new stake in shares of Precigen in the 1st quarter valued at approximately $70,000. Geode Capital Management LLC lifted its holdings in shares of Precigen by 7.7% in the 2nd quarter. Geode Capital Management LLC now owns 3,749,182 shares of the biotechnology company’s stock worth $5,325,000 after acquiring an additional 269,580 shares during the last quarter. Finally, Creative Planning lifted its holdings in shares of Precigen by 127.8% in the 2nd quarter. Creative Planning now owns 94,291 shares of the biotechnology company’s stock worth $134,000 after acquiring an additional 52,901 shares during the last quarter. 33.51% of the stock is currently owned by hedge funds and other institutional investors.

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.