Third Security LLC increased its position in shares of Precigen, Inc. (NASDAQ:PGEN) by 0.0% during the first quarter, Holdings Channel reports. The institutional investor owned 81,760,477 shares of the biotechnology company’s stock after purchasing an additional 16,414 shares during the period. Precigen comprises about 76.3% of Third Security LLC’s portfolio, making the stock its largest holding. Third Security LLC owned approximately 0.40% of Precigen worth $563,330,000 as of its most recent filing with the SEC.
Other hedge funds have also recently bought and sold shares of the company. Northern Trust Corp raised its stake in shares of Precigen by 3.2% in the first quarter. Northern Trust Corp now owns 836,807 shares of the biotechnology company’s stock worth $5,766,000 after purchasing an additional 26,309 shares during the last quarter. BDO Wealth Advisors LLC raised its stake in shares of Precigen by 494.4% in the first quarter. BDO Wealth Advisors LLC now owns 19,022 shares of the biotechnology company’s stock worth $131,000 after purchasing an additional 15,822 shares during the last quarter. Quantbot Technologies LP raised its stake in shares of Precigen by 2,079.7% in the first quarter. Quantbot Technologies LP now owns 15,258 shares of the biotechnology company’s stock worth $105,000 after purchasing an additional 14,558 shares during the last quarter. Rafferty Asset Management LLC raised its stake in shares of Precigen by 1,403.6% in the first quarter. Rafferty Asset Management LLC now owns 371,854 shares of the biotechnology company’s stock worth $2,562,000 after purchasing an additional 347,123 shares during the last quarter. Finally, BlackRock Inc. raised its stake in shares of Precigen by 10.9% in the first quarter. BlackRock Inc. now owns 7,375,625 shares of the biotechnology company’s stock worth $50,816,000 after purchasing an additional 726,353 shares during the last quarter. 68.61% of the stock is currently owned by institutional investors and hedge funds.
In related news, CEO Helen Sabzevari sold 12,531 shares of the stock in a transaction on Monday, July 19th. The stock was sold at an average price of $5.43, for a total value of $68,043.33. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Trading S.A. Ares sold 24,839 shares of the stock in a transaction on Monday, June 28th. The stock was sold at an average price of $6.88, for a total value of $170,892.32. Following the completion of the sale, the insider now owns 22,903,496 shares in the company, valued at approximately $157,576,052.48. The disclosure for this sale can be found here. Insiders sold 2,863,993 shares of company stock valued at $20,058,618 over the last ninety days. Corporate insiders own 50.70% of the company’s stock.
Precigen (NASDAQ:PGEN) last announced its quarterly earnings data on Monday, May 10th. The biotechnology company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.05. Precigen had a negative return on equity of 83.29% and a negative net margin of 134.74%. The business had revenue of $24.51 million during the quarter, compared to analyst estimates of $19.85 million. On average, analysts forecast that Precigen, Inc. will post -0.47 earnings per share for the current fiscal year.
Several research firms have recently issued reports on PGEN. HC Wainwright reaffirmed a “buy” rating on shares of Precigen in a report on Tuesday, May 11th. Zacks Investment Research raised Precigen from a “sell” rating to a “hold” rating in a report on Wednesday, April 21st. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $11.25.
Precigen, Inc discovers and develops the next generation of gene and cellular therapies in the United States. It also provides disease-modifying therapeutics; genetically engineered swine for regenerative medicine applications; proprietary methane bioconversion platform that turns natural gas into energy and chemical products; and reproductive and embryo transfer technologies.
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