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

Shares of Precigen, Inc. (NASDAQ:PGEN) have earned an average recommendation of “Moderate Buy” from the five brokerages that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $7.00.

A number of equities research analysts have recently commented on PGEN shares. StockNews.com raised shares of Precigen to a “sell” rating in a research note on Thursday, August 1st. JMP Securities cut their price target on shares of Precigen from $14.00 to $7.00 and set a “market outperform” rating on the stock in a research report on Thursday, August 15th. Stifel Nicolaus increased their price target on Precigen from $7.00 to $10.00 and gave the stock a “buy” rating in a report on Monday, June 3rd. HC Wainwright dropped their price objective on Precigen from $6.00 to $4.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Precigen in a research report on Wednesday, May 15th.

Precigen Stock Performance

NASDAQ:PGEN opened at $1.11 on Friday. Precigen has a fifty-two week low of $0.84 and a fifty-two week high of $1.93. The company has a 50 day simple moving average of $1.42 and a two-hundred day simple moving average of $1.44. The company has a market capitalization of $280.19 million, a PE ratio of -2.85 and a beta of 1.73.

Insiders Place Their Bets

In related news, SVP Jeffrey Thomas Perez purchased 58,823 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was purchased at an average cost of $0.85 per share, with a total value of $49,999.55. Following the completion of the purchase, the senior vice president now owns 743,097 shares in the company, valued at approximately $631,632.45. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 44.90% of the company’s stock.

Hedge Funds Weigh In On Precigen

Institutional investors have recently modified their holdings of the company. Fortis Group Advisors LLC acquired a new stake in Precigen in the 1st quarter valued at $28,000. Fisher Asset Management LLC acquired a new position in shares of Precigen during the fourth quarter valued at about $29,000. EntryPoint Capital LLC bought a new stake in shares of Precigen during the first quarter worth about $31,000. Simplicity Wealth LLC acquired a new stake in shares of Precigen in the 1st quarter worth about $51,000. Finally, China Universal Asset Management Co. Ltd. lifted its position in Precigen by 66.1% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 47,829 shares of the biotechnology company’s stock valued at $69,000 after acquiring an additional 19,041 shares in the last quarter. 33.51% of the stock is owned by institutional investors and hedge funds.

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.