HC Wainwright Issues Positive Forecast for Precigen Earnings

Precigen, Inc. (NASDAQ:PGEN) – Stock analysts at HC Wainwright raised their FY2024 EPS estimates for shares of Precigen in a research report issued on Thursday, January 23rd. HC Wainwright analyst S. Ramakanth now expects that the biotechnology company will post earnings per share of ($0.30) for the year, up from their previous estimate of ($0.33). HC Wainwright has a “Buy” rating and a $6.00 price objective on the stock. The consensus estimate for Precigen’s current full-year earnings is ($0.33) per share. HC Wainwright also issued estimates for Precigen’s Q4 2024 earnings at ($0.04) EPS, Q1 2025 earnings at ($0.04) EPS and FY2025 earnings at ($0.19) EPS.

Separately, JMP Securities restated a “market outperform” rating and issued 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 issued a buy rating to the stock. According to data from MarketBeat, Precigen presently has a consensus rating of “Hold” and a consensus target price of $7.00.

Precigen Stock Down 2.3 %

PGEN stock opened at $1.27 on Monday. The firm has a market cap of $371.94 million, a PE ratio of -2.31 and a beta of 1.65. The business has a 50 day moving average of $0.96 and a 200-day moving average of $1.05. Precigen has a 12-month low of $0.65 and a 12-month high of $1.93.

Institutional Investors Weigh In On Precigen

Several large investors have recently modified their holdings of PGEN. Iridian Asset Management LLC CT boosted its position in Precigen by 82.5% during the third quarter. Iridian Asset Management LLC CT now owns 3,775,960 shares of the biotechnology company’s stock worth $3,576,000 after purchasing an additional 1,706,815 shares during the period. LexAurum Advisors LLC raised its position in shares of Precigen by 151.9% in the fourth quarter. LexAurum Advisors LLC now owns 691,544 shares of the biotechnology company’s stock worth $775,000 after buying an additional 417,055 shares in the last quarter. Geode Capital Management LLC boosted its stake in Precigen by 4.8% during the third quarter. Geode Capital Management LLC now owns 3,246,508 shares of the biotechnology company’s stock valued at $3,075,000 after buying an additional 149,829 shares during the period. Renaissance Technologies LLC grew its position in Precigen by 12.4% during the second quarter. Renaissance Technologies LLC now owns 1,182,690 shares of the biotechnology company’s stock worth $1,869,000 after buying an additional 130,500 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Precigen by 11.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,222,850 shares of the biotechnology company’s stock valued at $1,158,000 after acquiring an additional 127,467 shares in the last quarter. Hedge funds and other 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.