Exchange Traded Concepts LLC Trims Holdings in Precigen, Inc. (NASDAQ:PGEN)

Exchange Traded Concepts LLC cut its stake in Precigen, Inc. (NASDAQ:PGEN) by 57.3% in the 1st quarter, Holdings Channel.com reports. The firm owned 71,566 shares of the biotechnology company’s stock after selling 95,930 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Precigen were worth $107,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the stock. Apella Capital LLC bought a new stake in Precigen during the first quarter valued at $40,000. ProShare Advisors LLC boosted its stake in Precigen by 26.6% during the fourth quarter. ProShare Advisors LLC now owns 51,822 shares of the biotechnology company’s stock valued at $58,000 after buying an additional 10,900 shares during the period. Cetera Investment Advisers boosted its stake in Precigen by 8.9% during the fourth quarter. Cetera Investment Advisers now owns 283,562 shares of the biotechnology company’s stock valued at $318,000 after buying an additional 23,250 shares during the period. Cary Street Partners Financial LLC bought a new stake in Precigen during the fourth quarter valued at $98,000. Finally, Bank of America Corp DE boosted its stake in Precigen by 11.6% during the fourth quarter. Bank of America Corp DE now owns 207,300 shares of the biotechnology company’s stock valued at $232,000 after buying an additional 21,626 shares during the period. 33.51% of the stock is currently owned by hedge funds and other institutional investors.

Precigen Stock Up 1.4%

Shares of PGEN stock opened at $1.50 on Wednesday. The business has a 50-day moving average price of $1.44 and a two-hundred day moving average price of $1.40. Precigen, Inc. has a 12-month low of $0.65 and a 12-month high of $2.17. The firm has a market cap of $442.77 million, a P/E ratio of -2.68 and a beta of 1.84.

Precigen (NASDAQ:PGEN) last issued its quarterly earnings results on Wednesday, May 14th. The biotechnology company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.01. Precigen had a negative return on equity of 279.20% and a negative net margin of 3,728.87%. The firm had revenue of $1.34 million during the quarter, compared to analyst estimates of $0.50 million. As a group, research analysts expect that Precigen, Inc. will post -0.32 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Wall Street Zen lowered Precigen from a “hold” rating to a “sell” rating in a research note on Saturday, May 24th. Cantor Fitzgerald reissued an “overweight” rating on shares of Precigen in a research note on Thursday, May 15th. HC Wainwright reissued a “buy” rating and set a $6.00 price objective on shares of Precigen in a research note on Thursday, March 20th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $6.00 price target on shares of Precigen in a research note on Thursday, June 12th.

Precigen Profile

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.