HC Wainwright Reiterates “Buy” Rating for Precigen (NASDAQ:PGEN)

Precigen (NASDAQ:PGEN)‘s stock had its “buy” rating reaffirmed by stock analysts at HC Wainwright in a research note issued to investors on Friday,Benzinga reports. They presently have a $4.00 price objective on the biotechnology company’s stock. HC Wainwright’s target price would indicate a potential upside of 353.05% from the stock’s current price.

Other equities analysts have also issued reports about the company. JMP Securities cut their price target on Precigen from $14.00 to $7.00 and set a “market outperform” rating for the company in a report on Thursday, August 15th. StockNews.com upgraded Precigen to a “sell” rating in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $7.00.

Precigen Stock Down 3.6 %

Shares of PGEN opened at $0.88 on Friday. The business’s fifty day moving average is $0.92 and its 200 day moving average is $1.25. Precigen has a 12-month low of $0.79 and a 12-month high of $1.93. The stock has a market cap of $223.16 million, a P/E ratio of -1.63 and a beta of 1.68.

Precigen (NASDAQ:PGEN) last announced its earnings results on Wednesday, August 14th. The biotechnology company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). The business had revenue of $0.72 million during the quarter, compared to analysts’ expectations of $1.28 million. Precigen had a negative return on equity of 90.99% and a negative net margin of 3,084.55%. On average, analysts expect that Precigen will post -0.44 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in PGEN. Traphagen Investment Advisors LLC bought a new position in shares of Precigen during the 3rd quarter valued at about $29,000. EntryPoint Capital LLC bought a new position in Precigen during the first quarter valued at approximately $31,000. SG Americas Securities LLC raised its stake in shares of Precigen by 44.2% during the third quarter. SG Americas Securities LLC now owns 45,063 shares of the biotechnology company’s stock worth $43,000 after acquiring an additional 13,823 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Precigen by 86.6% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 55,337 shares of the biotechnology company’s stock worth $52,000 after acquiring an additional 25,681 shares during the last quarter. Finally, AQR Capital Management LLC boosted its stake in shares of Precigen by 56.7% in the 2nd quarter. AQR Capital Management LLC now owns 50,002 shares of the biotechnology company’s stock valued at $79,000 after purchasing an additional 18,097 shares in the last quarter. 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.