Precigen (NASDAQ:PGEN) Earns “Buy” Rating from HC Wainwright

Precigen (NASDAQ:PGEN)‘s stock had its “buy” rating reissued by equities researchers at HC Wainwright in a research note issued on Friday,Benzinga reports. They presently have a $4.00 target price on the biotechnology company’s stock. HC Wainwright’s price objective suggests a potential upside of 387.75% from the company’s previous close. HC Wainwright also issued estimates for Precigen’s FY2026 earnings at $0.01 EPS, FY2027 earnings at $0.22 EPS and FY2028 earnings at $0.39 EPS.

PGEN has been the topic of a number of other research reports. JMP Securities lowered their target price on Precigen from $14.00 to $7.00 and set a “market outperform” rating on the stock in a research note on Thursday, August 15th. StockNews.com upgraded Precigen to a “sell” rating in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Precigen has an average rating of “Hold” and an average price target of $7.00.

Precigen Stock Down 7.1 %

PGEN stock opened at $0.82 on Friday. The firm’s fifty day simple moving average is $0.92 and its 200-day simple moving average is $1.24. Precigen has a 12 month low of $0.78 and a 12 month high of $1.93.

Precigen (NASDAQ:PGEN) last posted its quarterly earnings results on Wednesday, August 14th. The biotechnology company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.01). The business had revenue of $0.72 million during the quarter, compared to analysts’ expectations of $1.28 million. Precigen had a negative net margin of 3,521.68% and a negative return on equity of 112.05%. On average, equities analysts anticipate that Precigen will post -0.44 EPS for the current fiscal year.

Hedge Funds Weigh In On Precigen

A number of large investors have recently bought and sold shares of PGEN. Vanguard Group Inc. raised its stake in shares of Precigen by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 6,768,234 shares of the biotechnology company’s stock worth $9,814,000 after buying an additional 19,875 shares during the period. EntryPoint Capital LLC purchased a new stake in Precigen in the 1st quarter worth $31,000. Cetera Advisors LLC acquired a new position in Precigen during the first quarter worth $367,000. Bank of New York Mellon Corp lifted its holdings in Precigen by 4.8% during the second quarter. Bank of New York Mellon Corp now owns 421,788 shares of the biotechnology company’s stock valued at $666,000 after purchasing an additional 19,301 shares in the last quarter. Finally, 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. Institutional investors and hedge funds own 33.51% of the company’s stock.

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.