GSA Capital Partners LLP Takes Position in Precigen, Inc. $PGEN

GSA Capital Partners LLP purchased a new position in shares of Precigen, Inc. (NASDAQ:PGEN) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 116,964 shares of the biotechnology company’s stock, valued at approximately $667,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Xponance LLC lifted its holdings in Precigen by 21.3% in the fourth quarter. Xponance LLC now owns 14,191 shares of the biotechnology company’s stock valued at $59,000 after buying an additional 2,496 shares during the period. BNP Paribas Financial Markets grew its holdings in Precigen by 6.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 51,796 shares of the biotechnology company’s stock worth $170,000 after acquiring an additional 2,993 shares during the period. Composition Wealth LLC grew its holdings in Precigen by 16.5% during the 4th quarter. Composition Wealth LLC now owns 21,217 shares of the biotechnology company’s stock worth $89,000 after acquiring an additional 3,000 shares during the period. Intech Investment Management LLC raised its position in shares of Precigen by 5.2% during the 4th quarter. Intech Investment Management LLC now owns 63,018 shares of the biotechnology company’s stock valued at $263,000 after acquiring an additional 3,137 shares during the last quarter. Finally, Cetera Investment Advisers raised its position in shares of Precigen by 0.9% during the 1st quarter. Cetera Investment Advisers now owns 374,514 shares of the biotechnology company’s stock valued at $1,449,000 after acquiring an additional 3,250 shares during the last quarter. 33.51% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on PGEN shares. Citizens Jmp increased their price target on Precigen from $9.00 to $11.00 and gave the company a “market outperform” rating in a research note on Thursday, May 14th. Wall Street Zen upgraded Precigen from a “hold” rating to a “strong-buy” rating in a report on Saturday, August 8th. Zacks Research raised Precigen from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 5th. Weiss Ratings restated a “sell (d-)” rating on shares of Precigen in a report on Friday, July 17th. Finally, HC Wainwright boosted their target price on Precigen from $14.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Precigen currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.50.

Insider Activity at Precigen

In related news, COO Rutul R. Shah sold 32,739 shares of the company’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $6.86, for a total value of $224,589.54. Following the completion of the transaction, the chief operating officer directly owned 465,012 shares of the company’s stock, valued at approximately $3,189,982.32. This represents a 6.58% decrease in their position. The sale 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. Also, insider Donald P. Lehr sold 29,131 shares of the stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $4.36, for a total value of $127,011.16. Following the transaction, the insider owned 755,461 shares of the company’s stock, valued at approximately $3,293,809.96. This trade represents a 3.71% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 989,239 shares of company stock valued at $5,472,960. 41.40% of the stock is owned by insiders.

Precigen Price Performance

NASDAQ PGEN opened at $7.16 on Thursday. The company has a debt-to-equity ratio of 2.15, a quick ratio of 3.89 and a current ratio of 4.58. The stock has a market cap of $2.55 billion, a price-to-earnings ratio of -6.88 and a beta of 1.02. The business has a 50 day simple moving average of $5.70 and a 200 day simple moving average of $4.62. Precigen, Inc. has a 52-week low of $2.94 and a 52-week high of $7.32.

Precigen (NASDAQ:PGEN) last announced its quarterly earnings results on Tuesday, August 4th. The biotechnology company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.06. Precigen had a negative net margin of 183.98% and a positive return on equity of 423.75%. The firm had revenue of $54.98 million for the quarter, compared to analyst estimates of $27.98 million. The company’s revenue was up 6322.7% on a year-over-year basis. Analysts anticipate that Precigen, Inc. will post 0.25 earnings per share for the current fiscal year.

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.