Precigen (NASDAQ:PGEN) Sets New 52-Week High – Here’s Why

Precigen, Inc. (NASDAQ:PGEN)’s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as $2.17 and last traded at $2.02, with a volume of 2193081 shares trading hands. The stock had previously closed at $1.96.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PGEN. HC Wainwright restated a “buy” rating and issued a $6.00 target price (up from $4.00) on shares of Precigen in a research report on Thursday, January 23rd. JMP Securities restated a “market outperform” rating and issued a $5.00 price target on shares of Precigen in a research report on Tuesday, January 14th. Two investment analysts have rated the stock with a sell rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Precigen has a consensus rating of “Hold” and a consensus price target of $7.00.

Precigen Stock Down 3.0 %

The company’s fifty day moving average is $1.25 and its two-hundred day moving average is $1.06.

Hedge Funds Weigh In On Precigen

Several large investors have recently modified their holdings of PGEN. BNP Paribas Financial Markets bought a new stake in shares of Precigen during the fourth quarter worth $27,000. Stifel Financial Corp grew its position in shares of Precigen by 94.9% during the 3rd quarter. Stifel Financial Corp now owns 32,200 shares of the biotechnology company’s stock worth $30,000 after buying an additional 15,680 shares during the period. Envestnet Asset Management Inc. increased its stake in Precigen by 29.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 26,343 shares of the biotechnology company’s stock valued at $30,000 after purchasing an additional 5,915 shares in the last quarter. Boothbay Fund Management LLC acquired a new position in Precigen during the 4th quarter worth approximately $35,000. Finally, SG Americas Securities LLC lifted its holdings in shares of Precigen by 44.2% in the 3rd quarter. SG Americas Securities LLC now owns 45,063 shares of the biotechnology company’s stock worth $43,000 after purchasing an additional 13,823 shares in the last quarter. 33.51% of the stock is owned by 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.