Precigen (NASDAQ:PGEN) Stock Price Up 4.8%

Precigen, Inc. (NASDAQ:PGEN)’s stock price traded up 4.8% during trading on Thursday . The company traded as high as $3.27 and last traded at $3.27. 3,683 shares changed hands during mid-day trading, a decline of 100% from the average session volume of 1,590,791 shares. The stock had previously closed at $3.12.

Several research firms have recently weighed in on PGEN. JMP Securities reaffirmed a “buy” rating and set a $13.00 price objective on shares of Precigen in a report on Tuesday, December 14th. Zacks Investment Research raised shares of Precigen from a “hold” rating to a “buy” rating and set a $3.50 price target for the company in a research note on Tuesday. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Precigen presently has a consensus rating of “Buy” and a consensus target price of $11.25.

The company has a debt-to-equity ratio of 1.37, a quick ratio of 4.94 and a current ratio of 5.28. The company has a market capitalization of $667.76 million, a price-to-earnings ratio of -5.67 and a beta of 2.27. The company has a 50-day moving average price of $3.82 and a 200-day moving average price of $4.95.

Precigen (NASDAQ:PGEN) last issued its quarterly earnings data on Monday, November 8th. The biotechnology company reported ($0.15) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.14) by ($0.01). Precigen had a negative net margin of 109.91% and a negative return on equity of 68.90%. The firm had revenue of $21.56 million for the quarter, compared to analyst estimates of $24.47 million. As a group, sell-side analysts anticipate that Precigen, Inc. will post -0.49 earnings per share for the current fiscal year.

In other news, CFO Harry Jr. Thomasian bought 26,500 shares of the stock in a transaction on Friday, November 26th. The stock was acquired at an average price of $3.80 per share, with a total value of $100,700.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Donald P. Lehr sold 10,356 shares of the stock in a transaction on Wednesday, January 5th. The stock was sold at an average price of $3.59, for a total transaction of $37,178.04. The disclosure for this sale can be found here. Over the last quarter, insiders purchased 540,165 shares of company stock valued at $1,993,983 and sold 41,239 shares valued at $149,183. 42.70% of the stock is currently owned by insiders.

A number of hedge funds have recently bought and sold shares of the business. Third Security LLC grew its holdings in Precigen by 0.7% during the second quarter. Third Security LLC now owns 82,326,865 shares of the biotechnology company’s stock valued at $536,771,000 after purchasing an additional 566,388 shares during the period. Miller Value Partners LLC boosted its holdings in shares of Precigen by 1.7% in the second quarter. Miller Value Partners LLC now owns 9,257,868 shares of the biotechnology company’s stock worth $60,362,000 after acquiring an additional 156,393 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Precigen by 4.8% in the second quarter. Vanguard Group Inc. now owns 9,160,301 shares of the biotechnology company’s stock worth $59,726,000 after acquiring an additional 421,678 shares during the period. Geode Capital Management LLC lifted its holdings in Precigen by 22.5% during the 2nd quarter. Geode Capital Management LLC now owns 1,825,435 shares of the biotechnology company’s stock worth $11,901,000 after purchasing an additional 334,776 shares in the last quarter. Finally, Morgan Stanley increased its holdings in Precigen by 38.2% during the 2nd quarter. Morgan Stanley now owns 1,222,855 shares of the biotechnology company’s stock worth $7,973,000 after acquiring an additional 338,055 shares during the period. 66.66% of the stock is currently owned by institutional investors and hedge funds.

Precigen Company Profile (NASDAQ:PGEN)

Precigen, Inc is a biotechnology company, which engages in the research and development of synthetic biology technologies. The firm focuses on programming biological systems to alleviate disease, remediate environmental challenges, and provide sustainable food and industrial chemicals. It operates through the following segments: PGEN Therapeutics, ActoBio, Trans Ova and Human Biotherapeutics.

Further Reading: Arbitrage

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