Principal Financial Group Inc. Sells 37,802 Shares of Precigen, Inc. (NASDAQ:PGEN)

Principal Financial Group Inc. lowered its position in shares of Precigen, Inc. (NASDAQ:PGEN) by 60.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,783 shares of the biotechnology company’s stock after selling 37,802 shares during the quarter. Principal Financial Group Inc.’s holdings in Precigen were worth $39,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Fortis Group Advisors LLC purchased a new position in shares of Precigen during the 1st quarter valued at $28,000. Fisher Asset Management LLC bought a new position in shares of Precigen in the fourth quarter worth about $29,000. EntryPoint Capital LLC bought a new position in shares of Precigen in the first quarter worth about $31,000. Simplicity Wealth LLC purchased a new stake in shares of Precigen during the first quarter worth about $51,000. Finally, China Universal Asset Management Co. Ltd. raised its stake in Precigen by 66.1% during 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 purchasing an additional 19,041 shares during the period. 33.51% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PGEN has been the subject of a number of research analyst reports. HC Wainwright cut their price objective on shares of Precigen from $6.00 to $4.00 and set a “buy” rating for the company in a report on Thursday, August 15th. JMP Securities cut their target price on shares of Precigen from $14.00 to $7.00 and set a “market outperform” rating for the company in a research note on Thursday, August 15th. StockNews.com upgraded shares of Precigen to a “sell” rating in a research note on Thursday, August 1st. Finally, Stifel Nicolaus lifted their target price on Precigen from $7.00 to $10.00 and gave the stock a “buy” rating in a report on Monday, June 3rd. Two equities research analysts have rated the stock with a sell rating and four have assigned a buy rating to the company. According to MarketBeat.com, Precigen has a consensus rating of “Hold” and a consensus target price of $7.00.

Insider Activity at Precigen

In other news, SVP Jeffrey Thomas Perez acquired 58,823 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was acquired at an average price of $0.85 per share, with a total value of $49,999.55. Following the completion of the purchase, the senior vice president now directly owns 743,097 shares in the company, valued at $631,632.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 44.90% of the stock is currently owned by insiders.

Precigen Stock Down 4.8 %

Shares of NASDAQ:PGEN opened at $1.00 on Tuesday. The firm has a fifty day simple moving average of $1.29 and a two-hundred day simple moving average of $1.41. The stock has a market capitalization of $252.37 million, a P/E ratio of -2.56 and a beta of 1.67. Precigen, Inc. has a 52 week low of $0.84 and a 52 week high of $1.93.

Precigen (NASDAQ:PGEN) last issued its quarterly earnings data on Wednesday, August 14th. The biotechnology company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.01). The company had revenue of $0.72 million for the quarter, compared to the consensus estimate 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, Inc. will post -0.42 earnings per share for the current year.

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.