Key Points
- Precigen CEO Helen Sabzevari sold 119,250 shares on May 28 at an average price of $4.36, totaling about $519,930. The sale reduced her direct stake by 3.07% and was made to cover tax withholding tied to vested equity awards.
- PGEN shares were down 5.1% and opened at $4.12, with the stock trading near its 50-day and 200-day moving averages. The company currently has a market cap of about $1.47 billion.
- Precigen beat quarterly earnings estimates by reporting a loss of $0.02 per share versus the expected $0.03 loss, while revenue came in at $23.25 million, above estimates. Analyst sentiment is mixed, with a consensus rating of Hold and a consensus price target of $12.50.
Precigen, Inc. (NASDAQ:PGEN - Get Free Report) insider Donald Lehr sold 29,131 shares of the stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $4.36, for a total value of $127,011.16. Following the sale, the insider owned 755,461 shares of the company's stock, valued at approximately $3,293,809.96. The trade was a 3.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Precigen Stock Performance
Shares of Precigen stock opened at $4.12 on Tuesday. The company has a current ratio of 4.82, a quick ratio of 4.12 and a debt-to-equity ratio of 4.62. The business has a 50-day moving average price of $4.04 and a two-hundred day moving average price of $4.10. Precigen, Inc. has a 1-year low of $1.28 and a 1-year high of $5.47. The company has a market cap of $1.47 billion, a P/E ratio of -3.49 and a beta of 1.06.
Precigen (NASDAQ:PGEN - Get Free Report) last issued its quarterly earnings results on Wednesday, May 13th. The biotechnology company reported ($0.02) earnings per share for the quarter, topping analysts' consensus estimates of ($0.03) by $0.01. Precigen had a positive return on equity of 717.50% and a negative net margin of 646.99%.The firm had revenue of $23.25 million during the quarter, compared to the consensus estimate of $20.81 million. As a group, analysts anticipate that Precigen, Inc. will post 0.04 EPS for the current year.
Institutional Trading of Precigen
Large investors have recently made changes to their positions in the company. State of Wyoming acquired a new stake in shares of Precigen in the 1st quarter valued at about $27,000. NBC Securities Inc. acquired a new stake in shares of Precigen in the 4th quarter valued at about $38,000. Mason Investment Advisory Services Inc. bought a new position in Precigen in the 4th quarter valued at about $42,000. Abel Hall LLC bought a new position in Precigen in the 4th quarter valued at about $44,000. Finally, Royal Bank of Canada lifted its position in Precigen by 102.6% in the 1st quarter. Royal Bank of Canada now owns 10,714 shares of the biotechnology company's stock valued at $41,000 after acquiring an additional 5,426 shares in the last quarter. 33.51% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of analysts have weighed in on the company. HC Wainwright increased their price target on Precigen from $11.00 to $14.00 and gave the stock a "buy" rating in a report on Thursday, May 28th. Wall Street Zen downgraded Precigen from a "buy" rating to a "hold" rating in a report on Sunday. Zacks Research upgraded Precigen from a "strong sell" rating to a "hold" rating in a report on Tuesday, March 10th. Weiss Ratings restated a "sell (d-)" rating on shares of Precigen in a research note on Tuesday, April 21st. Finally, Citizens Jmp raised their target price on Precigen from $9.00 to $11.00 and gave the company a "market outperform" rating in a research note on Thursday, May 14th. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Precigen currently has a consensus rating of "Hold" and a consensus target price of $12.50.
Read Our Latest Analysis on PGEN
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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