Precigen’s (PGEN) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Precigen (NASDAQ:PGEN) in a research note issued to investors on Thursday,Benzinga reports. They currently have a $6.00 price objective on the biotechnology company’s stock.

Separately, JMP Securities reissued a “market outperform” rating and set a $5.00 price target on shares of Precigen in a research note on Tuesday, January 14th. Two investment analysts have rated the stock with a sell rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Precigen has a consensus rating of “Hold” and an average target price of $7.00.

Precigen Stock Performance

PGEN stock opened at $1.80 on Thursday. The company has a market capitalization of $527.16 million, a PE ratio of -3.27 and a beta of 1.58. Precigen has a one year low of $0.65 and a one year high of $2.17. The company’s 50 day moving average price is $1.60 and its two-hundred day moving average price is $1.15.

Precigen (NASDAQ:PGEN) last posted its quarterly earnings results on Wednesday, March 19th. The biotechnology company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.02. The firm had revenue of $1.19 million for the quarter, compared to the consensus estimate of $1.30 million. Precigen had a negative net margin of 3,521.68% and a negative return on equity of 123.06%. On average, research analysts predict that Precigen will post -0.32 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. BNP Paribas Financial Markets purchased a new position in shares of Precigen in the fourth quarter worth $27,000. Stifel Financial Corp increased its stake in shares of Precigen by 94.9% in the third quarter. Stifel Financial Corp now owns 32,200 shares of the biotechnology company’s stock worth $30,000 after buying an additional 15,680 shares during the period. Envestnet Asset Management Inc. increased its stake in shares of Precigen by 29.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 26,343 shares of the biotechnology company’s stock worth $30,000 after buying an additional 5,915 shares during the period. Boothbay Fund Management LLC bought a new stake in Precigen in the fourth quarter valued at $35,000. Finally, RPO LLC bought a new stake in Precigen in the fourth quarter valued at $47,000. 33.51% of the stock is owned by hedge funds and other 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.