Key Points
- Precigen COO Rutul Shah sold 33,772 shares at an average price of $6.50, totaling $219,518. The Rule 10b5-1 transaction reduced his ownership by 6.35% to 497,751 shares.
- Precigen shares opened at $6.61, near their 12-month high of $6.70, with a $2.36 billion market capitalization. The company recently beat quarterly revenue and earnings expectations, reporting $23.25 million in revenue and a $0.02 loss per share.
- Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $12.50; institutional investors own 33.51% of the stock.
Precigen, Inc. (NASDAQ:PGEN - Get Free Report) COO Rutul Shah sold 33,772 shares of Precigen stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $6.50, for a total transaction of $219,518.00. Following the completion of the sale, the chief operating officer owned 497,751 shares in the company, valued at $3,235,381.50. This trade represents a 6.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Precigen Stock Performance
Shares of PGEN opened at $6.61 on Tuesday. Precigen, Inc. has a 12 month low of $1.70 and a 12 month high of $6.70. The firm has a fifty day simple moving average of $5.03 and a 200 day simple moving average of $4.43. The stock has a market capitalization of $2.36 billion, a price-to-earnings ratio of -5.60 and a beta of 1.00. The company has a current ratio of 4.82, a quick ratio of 4.12 and a debt-to-equity ratio of 4.62.
Precigen (NASDAQ:PGEN - Get Free Report) last released its earnings results on Wednesday, May 13th. The biotechnology company reported ($0.02) earnings per share for the quarter, beating analysts' consensus estimates of ($0.03) by $0.01. Precigen had a negative net margin of 646.99% and a positive return on equity of 717.50%. The business had revenue of $23.25 million during the quarter, compared to the consensus estimate of $20.81 million. Research analysts forecast that Precigen, Inc. will post -0.02 EPS for the current fiscal year.
Hedge Funds Weigh In On Precigen
A number of large investors have recently made changes to their positions in PGEN. Occam Crest Management LP raised its stake in Precigen by 29.6% in the fourth quarter. Occam Crest Management LP now owns 3,501,739 shares of the biotechnology company's stock valued at $14,637,000 after purchasing an additional 799,339 shares in the last quarter. KBC Group NV bought a new stake in Precigen during the first quarter worth about $1,338,000. UBS Group AG grew its stake in Precigen by 41.4% during the fourth quarter. UBS Group AG now owns 891,428 shares of the biotechnology company's stock worth $3,726,000 after buying an additional 260,824 shares in the last quarter. Investment Insight Wealth Management LLC acquired a new stake in Precigen during the fourth quarter worth about $443,000. Finally, Impala Asset Management LLC bought a new position in Precigen in the 4th quarter valued at about $690,000. Institutional investors own 33.51% of the company's stock.
Analyst Upgrades and Downgrades
Several equities analysts have recently weighed in on the company. Citizens Jmp raised their price objective on Precigen from $9.00 to $11.00 and gave the company a "market outperform" rating in a report on Thursday, May 14th. Wall Street Zen lowered Precigen from a "buy" rating to a "hold" rating in a report on Sunday, May 31st. Citigroup reissued an "outperform" rating on shares of Precigen in a research report on Thursday, May 14th. Weiss Ratings restated a "sell (d-)" rating on shares of Precigen in a research note on Friday, July 17th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $14.00 price target on shares of Precigen in a research report on Monday. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Precigen presently has a consensus rating of "Hold" and an average target price of $12.50.
Check Out 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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