Precigen (NASDAQ:PGEN) Upgraded by StockNews.com to Sell

StockNews.com upgraded shares of Precigen (NASDAQ:PGENFree Report) to a sell rating in a research report sent to investors on Tuesday morning.

Several other equities research analysts also recently weighed in on the stock. Stifel Nicolaus reissued a buy rating and issued a $7.00 target price on shares of Precigen in a research note on Wednesday, May 15th. Cantor Fitzgerald reissued an overweight rating on shares of Precigen in a research note on Wednesday, May 15th. JMP Securities reissued a market outperform rating and issued a $14.00 target price on shares of Precigen in a research note on Wednesday, March 20th. JPMorgan Chase & Co. cut shares of Precigen from a neutral rating to an underweight rating in a report on Friday, March 22nd. Finally, HC Wainwright restated a buy rating and issued a $6.00 price target on shares of Precigen in a report on Wednesday, May 15th. Two research analysts have rated the stock with a sell rating and four have given a buy rating to the stock. Based on data from MarketBeat, Precigen currently has a consensus rating of Hold and an average price target of $9.00.

Get Our Latest Stock Analysis on PGEN

Precigen Stock Performance

PGEN stock opened at $1.39 on Tuesday. The company has a market capitalization of $350.86 million, a PE ratio of -3.56 and a beta of 1.77. The company’s fifty day moving average price is $1.40 and its 200-day moving average price is $1.35. Precigen has a one year low of $0.84 and a one year high of $1.88.

Precigen (NASDAQ:PGENGet Free Report) last released its quarterly earnings results on Tuesday, May 14th. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). The business had revenue of $1.07 million for the quarter, compared to analysts’ expectations of $1.54 million. Precigen had a negative net margin of 1,781.72% and a negative return on equity of 65.36%. During the same period in the previous year, the company earned ($0.10) EPS. On average, research analysts predict that Precigen will post -0.35 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. EntryPoint Capital LLC bought a new position in Precigen during the 1st quarter worth about $31,000. Vanguard Group Inc. grew its holdings in 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 acquiring an additional 19,875 shares in the last quarter. Iridian Asset Management LLC CT grew its holdings in Precigen by 4.3% during the 1st quarter. Iridian Asset Management LLC CT now owns 2,091,274 shares of the biotechnology company’s stock worth $3,032,000 after acquiring an additional 86,340 shares in the last quarter. Fortis Group Advisors LLC bought a new position in Precigen during the 1st quarter worth about $28,000. Finally, China Universal Asset Management Co. Ltd. grew its holdings in Precigen by 66.1% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 47,829 shares of the biotechnology company’s stock worth $69,000 after acquiring an additional 19,041 shares in the last quarter. 33.51% of the stock is currently owned by institutional investors.

About Precigen

(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.

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Analyst Recommendations for Precigen (NASDAQ:PGEN)

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