Lansing Street Advisors Makes New Investment in Precigen, Inc. $PGEN

Lansing Street Advisors purchased a new position in shares of Precigen, Inc. (NASDAQ:PGEN) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 547,038 shares of the biotechnology company’s stock, valued at approximately $1,800,000.

A number of other institutional investors have also modified their holdings of the company. Patient Capital Management LLC raised its holdings in shares of Precigen by 62.6% in the 3rd quarter. Patient Capital Management LLC now owns 26,460,848 shares of the biotechnology company’s stock valued at $87,056,000 after buying an additional 10,192,107 shares during the period. Geode Capital Management LLC grew its position in Precigen by 7.7% in the 2nd quarter. Geode Capital Management LLC now owns 3,749,182 shares of the biotechnology company’s stock valued at $5,325,000 after acquiring an additional 269,580 shares in the last quarter. Bank of America Corp DE grew its position in Precigen by 258.2% in the 2nd quarter. Bank of America Corp DE now owns 832,261 shares of the biotechnology company’s stock valued at $1,182,000 after acquiring an additional 599,914 shares in the last quarter. Marshall Wace LLP purchased a new stake in Precigen during the second quarter worth about $524,000. Finally, Diametric Capital LP acquired a new stake in shares of Precigen during the second quarter worth about $476,000. 33.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently commented on PGEN. Weiss Ratings reissued a “sell (d-)” rating on shares of Precigen in a research note on Thursday, January 22nd. HC Wainwright increased their target price on shares of Precigen from $8.50 to $9.00 and gave the stock a “buy” rating in a report on Friday, November 14th. Wall Street Zen cut shares of Precigen from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. Finally, Zacks Research downgraded shares of Precigen from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 22nd. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $8.50.

Insider Activity at Precigen

In related news, Director Randal J. Kirk sold 1,900,036 shares of the business’s stock in a transaction on Monday, December 22nd. The shares were sold at an average price of $4.18, for a total transaction of $7,942,150.48. Following the completion of the transaction, the director owned 341,189 shares in the company, valued at approximately $1,426,170.02. The trade was a 84.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 47.10% of the company’s stock.

Precigen Stock Down 0.8%

PGEN stock opened at $3.81 on Friday. The company’s 50 day moving average price is $4.45 and its 200 day moving average price is $4.01. The firm has a market capitalization of $1.35 billion, a price-to-earnings ratio of -2.74 and a beta of 1.07. Precigen, Inc. has a fifty-two week low of $1.11 and a fifty-two week high of $5.47. The company has a debt-to-equity ratio of 2.22, a quick ratio of 3.95 and a current ratio of 4.04.

Precigen Profile

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.