Precigen, Inc. (NASDAQ:PGEN) Receives $10.00 Average Price Target from Brokerages

Precigen, Inc. (NASDAQ:PGEN) has received an average rating of “Moderate Buy” from the five research firms that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation and four have given a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $10.00.

Several equities analysts have recently weighed in on the company. JMP Securities reissued a “market outperform” rating and set a $14.00 price target on shares of Precigen in a report on Tuesday, June 4th. Stifel Nicolaus raised their target price on Precigen from $7.00 to $10.00 and gave the stock a “buy” rating in a research report on Monday, June 3rd. HC Wainwright reaffirmed a “buy” rating and set a $6.00 price target on shares of Precigen in a research report on Monday, June 3rd. StockNews.com upgraded shares of Precigen to a “sell” rating in a research note on Thursday. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Precigen in a research report on Wednesday, May 15th.

Precigen Stock Performance

NASDAQ PGEN opened at $1.38 on Monday. Precigen has a one year low of $0.84 and a one year high of $1.93. The stock has a 50-day moving average of $1.57 and a 200 day moving average of $1.47. The company has a market capitalization of $348.34 million, a price-to-earnings ratio of -3.54 and a beta of 1.73.

Precigen (NASDAQ:PGEN) last released its quarterly earnings data on Tuesday, May 14th. The biotechnology company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.01). The company 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 firm earned ($0.10) earnings per share. On average, equities analysts predict that Precigen will post -0.38 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. SG Americas Securities LLC lifted its holdings in Precigen by 12.5% during the fourth quarter. SG Americas Securities LLC now owns 76,352 shares of the biotechnology company’s stock valued at $102,000 after purchasing an additional 8,478 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in shares of Precigen by 338.8% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 28,788 shares of the biotechnology company’s stock valued at $39,000 after buying an additional 22,227 shares in the last quarter. Emfo LLC lifted its stake in shares of Precigen by 22.2% during the 4th quarter. Emfo LLC now owns 519,475 shares of the biotechnology company’s stock valued at $696,000 after buying an additional 94,475 shares in the last quarter. Fisher Asset Management LLC bought a new position in Precigen in the 4th quarter worth $29,000. Finally, Panagora Asset Management Inc. purchased a new stake in Precigen in the 4th quarter worth $407,000. 33.51% of the stock is owned by hedge funds and other institutional investors.

About Precigen

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.