Brokerages Set Precigen, Inc. (NASDAQ:PGEN) PT at $7.00

Shares of Precigen, Inc. (NASDAQ:PGEN) have been given a consensus rating of “Moderate Buy” by the five research firms that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $7.00.

Several equities research analysts have weighed in on PGEN shares. JMP Securities lowered their target price on shares of Precigen from $14.00 to $7.00 and set a “market outperform” rating for the company in a research note on Thursday, August 15th. StockNews.com raised shares of Precigen to a “sell” rating in a report on Thursday, August 1st. Finally, HC Wainwright decreased their price target on shares of Precigen from $6.00 to $4.00 and set a “buy” rating for the company in a report on Thursday, August 15th.

Insider Buying and Selling

In other Precigen news, SVP Jeffrey Thomas Perez bought 58,823 shares of Precigen stock in a transaction that occurred on Friday, August 9th. The stock was purchased at an average price of $0.85 per share, with a total value of $49,999.55. Following the completion of the acquisition, the senior vice president now directly owns 743,097 shares in the company, valued at approximately $631,632.45. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 44.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. ClariVest Asset Management LLC grew its position in shares of Precigen by 2.9% in the second quarter. ClariVest Asset Management LLC now owns 492,152 shares of the biotechnology company’s stock valued at $778,000 after purchasing an additional 13,752 shares during the period. SG Americas Securities LLC grew its position in shares of Precigen by 44.2% in the third quarter. SG Americas Securities LLC now owns 45,063 shares of the biotechnology company’s stock valued at $43,000 after purchasing an additional 13,823 shares during the period. Exchange Traded Concepts LLC grew its position in shares of Precigen by 10.2% in the third quarter. Exchange Traded Concepts LLC now owns 167,496 shares of the biotechnology company’s stock valued at $159,000 after purchasing an additional 15,525 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of Precigen by 40.7% in the second quarter. The Manufacturers Life Insurance Company now owns 56,998 shares of the biotechnology company’s stock valued at $90,000 after purchasing an additional 16,486 shares during the period. Finally, AQR Capital Management LLC grew its position in shares of Precigen by 56.7% in the second quarter. AQR Capital Management LLC now owns 50,002 shares of the biotechnology company’s stock valued at $79,000 after purchasing an additional 18,097 shares during the period. Hedge funds and other institutional investors own 33.51% of the company’s stock.

Precigen Stock Up 4.3 %

Shares of PGEN opened at $0.91 on Friday. The company has a market cap of $229.23 million, a price-to-earnings ratio of -1.68 and a beta of 1.66. Precigen has a twelve month low of $0.82 and a twelve month high of $1.93. The company has a 50 day moving average of $1.01 and a two-hundred day moving average of $1.32.

Precigen (NASDAQ:PGEN) last announced its earnings results on Wednesday, August 14th. The biotechnology company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.01). The firm had revenue of $0.72 million during the quarter, compared to analyst estimates of $1.28 million. Precigen had a negative net margin of 3,084.55% and a negative return on equity of 90.99%. On average, sell-side analysts expect that Precigen will post -0.44 EPS for the current year.

About Precigen

Precigen, Inc operates as a discovery and clinical-stage biopharmaceutical company that develops gene and cell therapies using precision technology to target diseases in therapeutic areas of immuno-oncology, autoimmune disorders, and infectious diseases. It operates through two segments, Biopharmaceuticals and Exemplar.