Precigen (NASDAQ:PGEN) Given Buy Rating at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Precigen (NASDAQ:PGEN) in a report published on Monday, Benzinga reports. They currently have a $6.00 price objective on the biotechnology company’s stock.

Several other brokerages have also commented on PGEN. JPMorgan Chase & Co. lowered shares of Precigen from a neutral rating to an underweight rating in a research report on Friday, March 22nd. StockNews.com raised shares of Precigen to a sell rating in a research report on Tuesday, May 21st. Stifel Nicolaus reaffirmed a buy rating and issued a $7.00 price objective on shares of Precigen in a research report on Wednesday, May 15th. Cantor Fitzgerald reissued an overweight rating on shares of Precigen in a research report on Wednesday, May 15th. Finally, JMP Securities reissued a market outperform rating and issued a $14.00 price target on shares of Precigen in a research report on Wednesday, March 20th. Two analysts have rated the stock with a sell rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $10.00.

Precigen Stock Performance

Precigen stock opened at $1.71 on Monday. Precigen has a fifty-two week low of $0.84 and a fifty-two week high of $1.88. The stock has a market cap of $431.64 million, a PE ratio of -4.38 and a beta of 1.88. The firm’s 50-day simple moving average is $1.40 and its 200 day simple moving average is $1.37.

Precigen (NASDAQ:PGEN) last released its quarterly earnings results 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 firm had revenue of $1.07 million for the quarter, compared to analysts’ expectations of $1.54 million. Precigen had a negative return on equity of 65.36% and a negative net margin of 1,781.72%. During the same quarter last year, the firm posted ($0.10) earnings per share. As a group, analysts predict that Precigen will post -0.36 EPS for the current fiscal year.

Hedge Funds Weigh In On Precigen

Several hedge funds have recently bought and sold shares of PGEN. Bank of New York Mellon Corp grew its stake in Precigen by 5.2% during the third quarter. Bank of New York Mellon Corp now owns 455,238 shares of the biotechnology company’s stock valued at $646,000 after acquiring an additional 22,538 shares in the last quarter. State Board of Administration of Florida Retirement System purchased a new position in Precigen during the third quarter valued at approximately $55,000. Exchange Traded Concepts LLC grew its stake in Precigen by 34.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 94,091 shares of the biotechnology company’s stock valued at $126,000 after acquiring an additional 23,859 shares in the last quarter. Diversified Trust Co purchased a new position in Precigen during the fourth quarter valued at approximately $39,000. Finally, SG Americas Securities LLC grew its stake 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 acquiring an additional 8,478 shares in the last quarter. Hedge funds and other institutional investors own 33.51% of the company’s stock.

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.