Precigen (NASDAQ:PGEN) Stock Price Down 9% – Time to Sell?

Precigen, Inc. (NASDAQ:PGEN)’s stock price traded down 9% during trading on Monday . The company traded as low as $3.38 and last traded at $3.3390. 2,699,863 shares were traded during mid-day trading, a decline of 39% from the average session volume of 4,402,854 shares. The stock had previously closed at $3.67.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. HC Wainwright raised their price objective on shares of Precigen from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Thursday, March 26th. Citizens Jmp boosted their target price on Precigen from $8.00 to $9.00 and gave the stock a “market outperform” rating in a report on Thursday, March 26th. Weiss Ratings restated a “sell (d-)” rating on shares of Precigen in a research report on Thursday, January 22nd. Wall Street Zen raised Precigen from a “sell” rating to a “hold” rating in a report on Saturday. Finally, Zacks Research upgraded Precigen from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 10th. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Precigen has a consensus rating of “Hold” and an average price target of $9.50.

Precigen Trading Up 1.9%

The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of -2.93 and a beta of 1.10. The company has a debt-to-equity ratio of 4.46, a quick ratio of 2.83 and a current ratio of 3.09. The business’s 50-day simple moving average is $4.05 and its 200-day simple moving average is $3.97.

Precigen (NASDAQ:PGEN) last issued its quarterly earnings results on Wednesday, March 25th. The biotechnology company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.09. Precigen had a negative net margin of 2,588.21% and a positive return on equity of 2,317.96%. The company had revenue of $4.57 million during the quarter, compared to analysts’ expectations of $8.29 million. On average, research analysts expect that Precigen, Inc. will post -0.32 earnings per share for the current fiscal year.

Institutional Trading of Precigen

Several institutional investors and hedge funds have recently made changes to their positions in PGEN. Patient Capital Management LLC boosted its position 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 worth $87,056,000 after purchasing an additional 10,192,107 shares during the last quarter. State Street Corp increased its holdings in Precigen by 141.1% in the fourth quarter. State Street Corp now owns 10,824,860 shares of the biotechnology company’s stock valued at $45,248,000 after purchasing an additional 6,335,033 shares during the last quarter. SymBiosis Capital Partners LLC acquired a new position in Precigen in the fourth quarter valued at about $12,540,000. Bank of America Corp DE lifted its stake in Precigen by 201.1% in the third quarter. Bank of America Corp DE now owns 2,505,992 shares of the biotechnology company’s stock valued at $8,245,000 after buying an additional 1,673,731 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in Precigen by 196.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,173,933 shares of the biotechnology company’s stock worth $9,087,000 after buying an additional 1,440,446 shares during the last quarter. Institutional investors own 33.51% of the company’s stock.

Precigen Company 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.