Precigen (NASDAQ:PGEN) Price Target Cut to $7.00

Precigen (NASDAQ:PGEN) had its target price lowered by JMP Securities from $14.00 to $7.00 in a research report released on Thursday morning, Benzinga reports. The firm currently has a market outperform rating on the biotechnology company’s stock.

A number of other analysts also recently commented on PGEN. Cantor Fitzgerald restated an overweight rating on shares of Precigen in a research note on Wednesday, May 15th. Stifel Nicolaus raised their price objective on shares of Precigen from $7.00 to $10.00 and gave the stock a buy rating in a research note on Monday, June 3rd. HC Wainwright cut their target price on shares of Precigen from $6.00 to $4.00 and set a buy rating for the company in a report on Thursday. Finally, StockNews.com raised shares of Precigen to a sell rating in a report on Thursday, August 1st. 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.com, Precigen presently has an average rating of Hold and an average target price of $7.00.

Precigen Price Performance

NASDAQ PGEN opened at $1.09 on Thursday. Precigen has a 1 year low of $0.84 and a 1 year high of $1.93. The company has a market capitalization of $275.14 million, a PE ratio of -2.79 and a beta of 1.73. The company has a fifty day moving average of $1.50 and a 200 day moving average of $1.46.

Insiders Place Their Bets

In other Precigen news, SVP Jeffrey Thomas Perez acquired 58,823 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was acquired at an average cost of $0.85 per share, for a total transaction of $49,999.55. Following the completion of the transaction, the senior vice president now directly owns 743,097 shares of the company’s stock, valued at $631,632.45. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 44.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. 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. Fisher Asset Management LLC acquired a new stake in Precigen in the 4th quarter worth about $29,000. Panagora Asset Management Inc. purchased a new stake in Precigen during the 4th quarter worth approximately $407,000. Patient Capital Management LLC raised its holdings in shares of Precigen by 16.2% during the fourth quarter. Patient Capital Management LLC now owns 15,983,700 shares of the biotechnology company’s stock valued at $21,418,000 after acquiring an additional 2,230,524 shares during the last quarter. Finally, Opaleye Management Inc. lifted its position in shares of Precigen by 9.0% in the fourth quarter. Opaleye Management Inc. now owns 1,012,500 shares of the biotechnology company’s stock valued at $1,357,000 after acquiring an additional 84,000 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.