Key Points
- Randal Kirk sold 4,772,781 shares of Precigen on March 30 at an average price of $3.30, a transaction totaling $15,750,177.30 that reduced his stake by 94.05% to 302,213 shares (SEC filing).
- Precigen beat EPS estimates for the quarter (reported ($0.01) vs. consensus ($0.10)) but missed revenue ($4.57M vs. $8.29M) and remains loss-making with a forecasted FY EPS of -0.32.
- Analysts hold a consensus "Hold" rating with a $9.50 target, while institutional investors—led by large increases from Patient Capital and State Street—now own about 33.51% of the company.
Precigen, Inc. (NASDAQ:PGEN - Get Free Report) Director Randal Kirk sold 4,772,781 shares of the stock in a transaction that occurred on Monday, March 30th. The stock was sold at an average price of $3.30, for a total transaction of $15,750,177.30. Following the completion of the sale, the director owned 302,213 shares in the company, valued at $997,302.90. This represents a 94.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Precigen Stock Up 0.3%
Shares of NASDAQ:PGEN opened at $3.94 on Friday. The firm has a fifty day moving average price of $4.02 and a two-hundred day moving average price of $3.97. The company has a market cap of $1.39 billion, a price-to-earnings ratio of -2.94 and a beta of 1.12. The company has a debt-to-equity ratio of 4.46, a current ratio of 3.09 and a quick ratio of 2.83. Precigen, Inc. has a one year low of $1.11 and a one year high of $5.47.
Precigen (NASDAQ:PGEN - Get Free Report) last released its quarterly earnings results on Wednesday, March 25th. The biotechnology company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.09. Precigen had a negative net margin of 2,588.21% and a positive return on equity of 2,317.96%. The firm had revenue of $4.57 million for the quarter, compared to analysts' expectations of $8.29 million. Analysts anticipate that Precigen, Inc. will post -0.32 EPS for the current fiscal year.
Institutional Investors Weigh In On Precigen
Hedge funds have recently added to or reduced their stakes in the company. Patient Capital Management LLC boosted its holdings in shares of Precigen by 62.6% in the 3rd quarter. Patient Capital Management LLC now owns 26,460,848 shares of the biotechnology company's stock worth $87,056,000 after purchasing an additional 10,192,107 shares in the last quarter. State Street Corp lifted its position in Precigen by 141.1% in the 4th quarter. State Street Corp now owns 10,824,860 shares of the biotechnology company's stock worth $45,248,000 after buying an additional 6,335,033 shares during the last quarter. SymBiosis Capital Partners LLC purchased a new stake in Precigen in the fourth quarter worth approximately $12,540,000. Bank of America Corp DE boosted its stake in Precigen by 201.1% in the third quarter. Bank of America Corp DE now owns 2,505,992 shares of the biotechnology company's stock worth $8,245,000 after buying an additional 1,673,731 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in Precigen by 196.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,173,933 shares of the biotechnology company's stock valued at $9,087,000 after acquiring an additional 1,440,446 shares during the last quarter. Institutional investors own 33.51% of the company's stock.
Analyst Ratings Changes
Several research firms have weighed in on PGEN. Zacks Research raised Precigen from a "strong sell" rating to a "hold" rating in a report on Tuesday, March 10th. Citizens Jmp boosted their price objective on Precigen from $8.00 to $9.00 and gave the stock a "market outperform" rating in a report on Thursday, March 26th. HC Wainwright upped their price objective on shares of Precigen from $9.00 to $10.00 and gave the stock a "buy" rating in a research report on Thursday, March 26th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Precigen in a research note on Thursday, January 22nd. Finally, Wall Street Zen raised shares of Precigen from a "sell" rating to a "hold" rating in a research note on Saturday, March 28th. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $9.50.
View Our Latest Analysis on Precigen
Precigen Company Profile
(
Get Free Report)
Precigen, Inc (NASDAQ: PGEN) is a biotechnology company focused on the discovery, development and commercialization of genetic medicines. The company leverages proprietary gene and cell therapy platforms to design targeted therapies for oncology, infectious diseases and rare conditions. Precigen's approach combines synthetic biology, immuno-oncology and microbiome engineering to create precision treatments intended to enhance efficacy while minimizing off-target effects.
The centerpiece of Precigen's technology is its OmniCAR platform, which enables the rapid generation of adaptable chimeric antigen receptor (CAR) T-cell products.
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