Insider Selling: Precigen (NASDAQ:PGEN) Director Sells $15,750,177.30 in Stock

Precigen, Inc. (NASDAQ:PGEN) Director Randal Kirk sold 4,772,781 shares of the company’s stock in a transaction on Monday, March 30th. The shares were sold at an average price of $3.30, for a total value of $15,750,177.30. Following the completion of the sale, the director directly owned 302,213 shares in the company, valued at $997,302.90. This trade represents a 94.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Precigen Stock Performance

NASDAQ:PGEN opened at $3.94 on Friday. The company has a market capitalization of $1.39 billion, a PE ratio of -2.94 and a beta of 1.12. The company has a quick ratio of 2.83, a current ratio of 3.09 and a debt-to-equity ratio of 4.46. Precigen, Inc. has a 52-week low of $1.11 and a 52-week high of $5.47. The stock has a fifty day simple moving average of $4.00 and a 200-day simple moving average of $3.97.

Precigen (NASDAQ:PGEN) last issued its quarterly earnings data on Wednesday, March 25th. The biotechnology company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $4.57 million for the quarter, compared to analysts’ expectations of $8.29 million. On average, equities research analysts expect that Precigen, Inc. will post -0.32 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PGEN has been the subject of a number of recent research reports. Citizens Jmp raised their price objective on shares of Precigen from $8.00 to $9.00 and gave the stock a “market outperform” rating in a research note on Thursday, March 26th. HC Wainwright boosted their price target on Precigen from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Thursday, March 26th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Precigen in a research note on Thursday, January 22nd. Zacks Research raised shares of Precigen from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 10th. Finally, Wall Street Zen raised shares of Precigen from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. Four analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Precigen presently has a consensus rating of “Hold” and a consensus price target of $9.50.

Hedge Funds Weigh In On Precigen

A number of hedge funds have recently made changes to their positions in PGEN. Xponance LLC grew its stake in shares of Precigen by 21.3% during the 4th 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 boosted its holdings in Precigen by 6.1% in the third quarter. BNP Paribas Financial Markets now owns 51,796 shares of the biotechnology company’s stock valued at $170,000 after acquiring an additional 2,993 shares during the last quarter. Composition Wealth LLC grew its position in Precigen by 16.5% during the fourth quarter. Composition Wealth LLC now owns 21,217 shares of the biotechnology company’s stock valued at $89,000 after acquiring an additional 3,000 shares during the period. Intech Investment Management LLC grew its position in Precigen by 5.2% during the fourth 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 period. Finally, Strs Ohio increased its stake in Precigen by 6.8% during the third quarter. Strs Ohio now owns 50,400 shares of the biotechnology company’s stock worth $166,000 after acquiring an additional 3,200 shares during the last quarter. Institutional investors and hedge funds 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.