Precigen (NASDAQ:PGEN) Shares Down 4.2% – Here’s Why

Precigen, Inc. (NASDAQ:PGEN)’s share price traded down 4.2% during trading on Monday . The stock traded as low as $1.73 and last traded at $1.73. 119,813 shares traded hands during trading, a decline of 94% from the average session volume of 1,997,533 shares. The stock had previously closed at $1.80.

Analysts Set New Price Targets

Several analysts recently commented on the company. HC Wainwright reaffirmed a “buy” rating and set a $6.00 price objective (up previously from $4.00) on shares of Precigen in a research note on Thursday, January 23rd. JMP Securities reaffirmed a “market outperform” rating and set a $5.00 price objective on shares of Precigen in a research note on Tuesday, January 14th. Two analysts have rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $7.00.

Precigen Trading Down 4.7 %

The company has a 50 day simple moving average of $1.55 and a 200-day simple moving average of $1.13. The stock has a market cap of $502.27 million, a price-to-earnings ratio of -3.12 and a beta of 1.58.

Hedge Funds Weigh In On Precigen

Several hedge funds have recently modified their holdings of the stock. Envestnet Asset Management Inc. grew its holdings in shares of Precigen by 29.0% in the 4th quarter. Envestnet Asset Management Inc. now owns 26,343 shares of the biotechnology company’s stock valued at $30,000 after acquiring an additional 5,915 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Precigen by 14.6% in the 4th quarter. Invesco Ltd. now owns 47,307 shares of the biotechnology company’s stock valued at $53,000 after acquiring an additional 6,040 shares in the last quarter. ProShare Advisors LLC grew its holdings in shares of Precigen by 26.6% in the 4th quarter. ProShare Advisors LLC now owns 51,822 shares of the biotechnology company’s stock valued at $58,000 after acquiring an additional 10,900 shares in the last quarter. Stoneridge Investment Partners LLC grew its holdings in shares of Precigen by 21.3% in the 4th quarter. Stoneridge Investment Partners LLC now owns 68,681 shares of the biotechnology company’s stock valued at $77,000 after acquiring an additional 12,063 shares in the last quarter. Finally, Wells Fargo & Company MN grew its holdings in shares of Precigen by 12.0% in the 4th quarter. Wells Fargo & Company MN now owns 114,558 shares of the biotechnology company’s stock valued at $128,000 after acquiring an additional 12,285 shares in the last quarter. Institutional investors own 33.51% of the company’s stock.

Precigen Company 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.