Insider Selling: Precigen (NASDAQ:PGEN) Director Sells $1,376,400.00 in Stock

Precigen, Inc. (NASDAQ:PGEN) Director Jeffrey Kindler sold 185,000 shares of the company’s stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $7.44, for a total value of $1,376,400.00. Following the transaction, the director directly owned 17,100 shares in the company, valued at approximately $127,224. This represents a 91.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Precigen Price Performance

Shares of PGEN opened at $6.95 on Monday. The business’s fifty day moving average price is $6.05 and its two-hundred day moving average price is $4.75. The firm has a market capitalization of $2.48 billion, a price-to-earnings ratio of -6.68 and a beta of 1.02. Precigen, Inc. has a 52 week low of $2.99 and a 52 week high of $7.72. The company has a debt-to-equity ratio of 2.15, a quick ratio of 3.89 and a current ratio of 4.58.

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

Hedge Funds Weigh In On Precigen

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. State of Wyoming acquired a new stake in shares of Precigen in the first quarter valued at approximately $27,000. NBC Securities Inc. acquired a new position in shares of Precigen during the 4th quarter worth approximately $38,000. Caitong International Asset Management Co. Ltd bought a new stake in Precigen in the 3rd quarter valued at $39,000. Royal Bank of Canada raised its stake in Precigen by 102.6% in the 1st quarter. Royal Bank of Canada now owns 10,714 shares of the biotechnology company’s stock valued at $41,000 after acquiring an additional 5,426 shares during the period. Finally, Russell Investments Group Ltd. acquired a new stake in Precigen during the 3rd quarter valued at $41,000. Institutional investors own 33.51% of the company’s stock.

Analysts Set New Price Targets

PGEN has been the topic of a number of analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Precigen in a research report on Friday, July 17th. Zacks Research raised Precigen from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 5th. Wall Street Zen raised shares of Precigen from a “hold” rating to a “strong-buy” rating in a research note on Saturday, August 8th. Citigroup restated an “outperform” rating on shares of Precigen in a report on Thursday, May 14th. Finally, HC Wainwright boosted their price objective on shares of Precigen from $14.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $14.50.

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.