Key Points
- Director Randal Kirk sold 937,308 shares of Precigen on Nov. 21 at an average price of $3.83 for total proceeds of $3,589,889.64, cutting his stake by 14.44% to 5,554,244 shares (worth about $21.27M).
- Precigen missed quarterly EPS estimates (reported -$0.11 vs. -$0.08 expected) but posted revenue of $2.92M vs. $0.67M expected; the stock traded around $3.88 with a market cap of ~$1.37B and a 52-week range of $0.65–$5.22.
- Analysts hold a consensus rating of "Moderate Buy" with a $8.50 average price target, based on four Buys, one Hold and one Sell.
Precigen, Inc. (NASDAQ:PGEN - Get Free Report) Director Randal Kirk sold 937,308 shares of Precigen stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $3.83, for a total value of $3,589,889.64. Following the sale, the director owned 5,554,244 shares in the company, valued at $21,272,754.52. This represents a 14.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Precigen Stock Down 0.5%
PGEN stock traded down $0.02 during midday trading on Friday, hitting $3.88. The stock had a trading volume of 4,626,470 shares, compared to its average volume of 4,540,987. The business has a 50-day moving average of $3.82 and a two-hundred day moving average of $2.71. The company has a debt-to-equity ratio of 2.22, a current ratio of 4.04 and a quick ratio of 3.95. The firm has a market cap of $1.37 billion, a price-to-earnings ratio of -2.79 and a beta of 1.71. Precigen, Inc. has a 52-week low of $0.65 and a 52-week high of $5.22.
Precigen (NASDAQ:PGEN - Get Free Report) last released its earnings results on Thursday, November 13th. The biotechnology company reported ($0.11) earnings per share for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.03). The business had revenue of $2.92 million during the quarter, compared to analysts' expectations of $0.67 million. Precigen had a positive return on equity of 1,066.10% and a negative net margin of 3,912.92%. As a group, equities research analysts forecast that Precigen, Inc. will post -0.32 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Precigen
Several large investors have recently bought and sold shares of the business. CIBC Bancorp USA Inc. purchased a new position in Precigen in the 3rd quarter worth about $53,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Precigen in the third quarter worth approximately $39,000. Voleon Capital Management LP purchased a new position in shares of Precigen during the third quarter valued at approximately $483,000. Prelude Capital Management LLC raised its holdings in shares of Precigen by 105.6% during the third quarter. Prelude Capital Management LLC now owns 269,511 shares of the biotechnology company's stock valued at $887,000 after purchasing an additional 138,421 shares during the last quarter. Finally, Parkman Healthcare Partners LLC lifted its position in Precigen by 36.2% during the third quarter. Parkman Healthcare Partners LLC now owns 2,101,715 shares of the biotechnology company's stock valued at $6,915,000 after purchasing an additional 558,892 shares during the period. 33.51% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several equities analysts have recently issued reports on PGEN shares. JPMorgan Chase & Co. upgraded shares of Precigen from an "underweight" rating to a "neutral" rating in a report on Friday, August 15th. HC Wainwright lifted their price objective on Precigen from $8.50 to $9.00 and gave the company a "buy" rating in a research note on Friday, November 14th. Weiss Ratings reissued a "sell (d-)" rating on shares of Precigen in a report on Wednesday, October 8th. Citigroup restated an "outperform" rating on shares of Precigen in a report on Tuesday, August 19th. Finally, JMP Securities upped their price target on shares of Precigen from $6.00 to $8.00 and gave the stock a "market outperform" rating in a research note on Tuesday, August 19th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $8.50.
View Our Latest Stock Report on PGEN
Precigen Company Profile
(
Get Free Report)
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.
Further Reading
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