Rutul Shah Sells 33,772 Shares of Precigen (NASDAQ:PGEN) Stock

Precigen, Inc. (NASDAQ:PGEN) COO Rutul Shah sold 33,772 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $6.50, for a total transaction of $219,518.00. Following the completion of the sale, the chief operating officer owned 497,751 shares in the company, valued at $3,235,381.50. The trade was a 6.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Precigen Stock Performance

Shares of Precigen stock traded up $0.34 during trading on Monday, hitting $6.61. 7,431,242 shares of the company’s stock were exchanged, compared to its average volume of 4,481,054. The stock has a market capitalization of $2.36 billion, a price-to-earnings ratio of -5.60 and a beta of 1.02. The business has a 50-day simple moving average of $4.98 and a 200-day simple moving average of $4.41. Precigen, Inc. has a 52-week low of $1.70 and a 52-week high of $6.70. 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 posted its quarterly earnings results on Wednesday, May 13th. The biotechnology company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.03) by $0.01. The company had revenue of $23.25 million for the quarter, compared to analyst estimates of $20.81 million. Precigen had a negative net margin of 646.99% and a positive return on equity of 717.50%. On average, research analysts forecast that Precigen, Inc. will post -0.02 EPS for the current year.

Hedge Funds Weigh In On Precigen

A number of large investors have recently bought and sold shares of PGEN. State of Wyoming purchased a new position in Precigen during the first quarter worth approximately $27,000. NBC Securities Inc. purchased a new stake in shares of Precigen in the fourth quarter valued at approximately $38,000. Mason Investment Advisory Services Inc. acquired a new position in shares of Precigen during the 4th quarter worth approximately $42,000. Abel Hall LLC acquired a new position in shares of Precigen during the 4th quarter worth approximately $44,000. Finally, Royal Bank of Canada lifted its position in shares of Precigen by 102.6% during the 1st quarter. Royal Bank of Canada now owns 10,714 shares of the biotechnology company’s stock valued at $41,000 after buying an additional 5,426 shares in the last quarter. Institutional investors and hedge funds own 33.51% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on PGEN shares. HC Wainwright reaffirmed a “buy” rating and set a $14.00 target price on shares of Precigen in a report on Monday. Citizens Jmp boosted their price target on Precigen from $9.00 to $11.00 and gave the company a “market outperform” rating in a report on Thursday, May 14th. Weiss Ratings restated a “sell (d-)” rating on shares of Precigen in a research report on Friday, July 17th. Wall Street Zen lowered shares of Precigen from a “buy” rating to a “hold” rating in a report on Sunday, May 31st. Finally, Citigroup reiterated an “outperform” rating on shares of Precigen in a research note on Thursday, May 14th. 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 stock. According to data from MarketBeat.com, Precigen currently has an average rating of “Hold” and an average target price 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.