Precigen’s (PGEN) Buy Rating Reiterated at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Precigen (NASDAQ:PGEN) in a research note published on Thursday,Benzinga reports. HC Wainwright currently has a $6.00 target price on the biotechnology company’s stock. HC Wainwright also issued estimates for Precigen’s FY2027 earnings at $0.18 EPS, FY2028 earnings at $0.40 EPS and FY2029 earnings at $0.66 EPS.

Separately, JMP Securities reissued a “market outperform” rating and issued a $5.00 price target on shares of Precigen in a research note on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Precigen currently has an average rating of “Moderate Buy” and a consensus target price of $7.00.

Precigen Trading Up 0.6 %

Precigen stock opened at $1.81 on Thursday. The stock has a market cap of $532.22 million, a PE ratio of -3.29 and a beta of 1.58. The stock has a 50-day moving average price of $1.61 and a 200 day moving average price of $1.15. Precigen has a 52 week low of $0.65 and a 52 week high of $2.17.

Precigen (NASDAQ:PGEN) last issued its quarterly earnings results on Wednesday, March 19th. The biotechnology company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.02. Precigen had a negative return on equity of 123.06% and a negative net margin of 3,521.68%. The firm had revenue of $1.19 million for the quarter, compared to analyst estimates of $1.30 million. On average, equities analysts predict that Precigen will post -0.32 EPS for the current year.

Hedge Funds Weigh In On Precigen

Several hedge funds and other institutional investors have recently bought and sold shares of PGEN. Iridian Asset Management LLC CT lifted its position in Precigen by 38.8% during the 4th quarter. Iridian Asset Management LLC CT now owns 5,241,922 shares of the biotechnology company’s stock worth $5,871,000 after acquiring an additional 1,465,962 shares in the last quarter. LexAurum Advisors LLC increased its holdings in Precigen by 151.9% during the 4th quarter. LexAurum Advisors LLC now owns 691,544 shares of the biotechnology company’s stock worth $775,000 after purchasing an additional 417,055 shares during the last quarter. Geode Capital Management LLC increased its holdings in Precigen by 4.8% during the 3rd quarter. Geode Capital Management LLC now owns 3,246,508 shares of the biotechnology company’s stock worth $3,075,000 after purchasing an additional 149,829 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Precigen by 11.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,222,850 shares of the biotechnology company’s stock valued at $1,158,000 after acquiring an additional 127,467 shares in the last quarter. Finally, HighTower Advisors LLC raised its position in shares of Precigen by 186.8% during the 3rd quarter. HighTower Advisors LLC now owns 192,144 shares of the biotechnology company’s stock valued at $179,000 after acquiring an additional 125,145 shares in the last quarter. 33.51% of the stock is owned by institutional investors and hedge funds.

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.