Precigen, Inc. (NASDAQ:PGEN) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Precigen, Inc. (NASDAQ:PGEN) has been assigned a consensus rating of “Moderate Buy” from the five brokerages that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $10.00.

A number of analysts recently commented on PGEN shares. StockNews.com raised Precigen to a “sell” rating in a research report on Thursday. JMP Securities reaffirmed a “market outperform” rating and set a $14.00 target price on shares of Precigen in a research report on Tuesday, June 4th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Precigen in a report on Wednesday, May 15th. HC Wainwright restated a “buy” rating and set a $6.00 price target on shares of Precigen in a research note on Monday, June 3rd. Finally, Stifel Nicolaus raised their price objective on shares of Precigen from $7.00 to $10.00 and gave the company a “buy” rating in a research note on Monday, June 3rd.

Precigen Stock Performance

Shares of PGEN opened at $1.38 on Monday. The firm has a market cap of $348.34 million, a PE ratio of -3.54 and a beta of 1.73. Precigen has a 52-week low of $0.84 and a 52-week high of $1.93. The business’s 50 day moving average price is $1.57 and its two-hundred day moving average price is $1.47.

Precigen (NASDAQ:PGEN) last issued its earnings results on Tuesday, May 14th. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.01). Precigen had a negative return on equity of 65.36% and a negative net margin of 1,781.72%. The company had revenue of $1.07 million for the quarter, compared to the consensus estimate of $1.54 million. During the same period in the prior year, the company earned ($0.10) earnings per share. Research analysts predict that Precigen will post -0.38 EPS for the current fiscal year.

Hedge Funds Weigh In On Precigen

Large investors have recently bought and sold shares of the stock. Patient Capital Management LLC lifted its position 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 purchasing an additional 2,230,524 shares in the last quarter. Sanders Morris Harris LLC bought a new position in shares of Precigen during the 1st quarter worth approximately $1,022,000. China Universal Asset Management Co. Ltd. lifted its position in shares of Precigen by 338.8% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 28,788 shares of the biotechnology company’s stock worth $39,000 after buying an additional 22,227 shares in the last quarter. Opaleye Management Inc. boosted its stake in shares of Precigen by 9.0% in the 4th quarter. Opaleye Management Inc. now owns 1,012,500 shares of the biotechnology company’s stock worth $1,357,000 after buying an additional 84,000 shares during the last quarter. Finally, Panagora Asset Management Inc. bought a new position in shares of Precigen in the fourth quarter valued at approximately $407,000. 33.51% of the stock is currently 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.