Bank of New York Mellon Corp Purchases 19,301 Shares of Precigen, Inc. (NASDAQ:PGEN)

Bank of New York Mellon Corp lifted its position in Precigen, Inc. (NASDAQ:PGEN) by 4.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 421,788 shares of the biotechnology company’s stock after buying an additional 19,301 shares during the period. Bank of New York Mellon Corp owned about 0.17% of Precigen worth $666,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Patient Capital Management LLC increased its holdings in shares of Precigen by 16.2% in the fourth quarter. Patient Capital Management LLC now owns 15,983,700 shares of the biotechnology company’s stock worth $21,418,000 after acquiring an additional 2,230,524 shares in the last quarter. Sanders Morris Harris LLC bought a new stake in Precigen during the 1st quarter worth approximately $1,022,000. Opaleye Management Inc. raised its holdings in Precigen by 9.0% during 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 period. EntryPoint Capital LLC bought a new position in Precigen in the first quarter valued at approximately $31,000. Finally, Vanguard Group Inc. increased its position in shares of Precigen by 0.3% during the first quarter. Vanguard Group Inc. now owns 6,768,234 shares of the biotechnology company’s stock worth $9,814,000 after acquiring an additional 19,875 shares in the last quarter. Institutional investors and hedge funds own 33.51% of the company’s stock.

Precigen Stock Performance

NASDAQ:PGEN opened at $1.00 on Monday. The stock’s 50-day simple moving average is $1.25 and its 200 day simple moving average is $1.39. Precigen, Inc. has a 52-week low of $0.84 and a 52-week high of $1.93. The company has a market cap of $251.16 million, a P/E ratio of -2.55 and a beta of 1.67.

Precigen (NASDAQ:PGEN) last announced its quarterly earnings data on Wednesday, August 14th. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). Precigen had a negative return on equity of 90.99% and a negative net margin of 3,084.55%. The company had revenue of $0.72 million for the quarter, compared to the consensus estimate of $1.28 million. As a group, equities analysts predict that Precigen, Inc. will post -0.44 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Stifel Nicolaus upped their target price on shares of Precigen from $7.00 to $10.00 and gave the stock a “buy” rating in a research note on Monday, June 3rd. HC Wainwright reduced their price objective on Precigen from $6.00 to $4.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. JMP Securities dropped their target price on Precigen from $14.00 to $7.00 and set a “market outperform” rating on the stock in a research report on Thursday, August 15th. Finally, StockNews.com raised Precigen to a “sell” rating in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $7.00.

Insider Buying and Selling at Precigen

In other news, SVP Jeffrey Thomas Perez acquired 58,823 shares of the stock in a transaction dated Friday, August 9th. The shares were bought at an average cost of $0.85 per share, for a total transaction of $49,999.55. Following the purchase, the senior vice president now directly owns 743,097 shares of the company’s stock, valued at $631,632.45. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 44.90% of the company’s stock.

Precigen Company Profile

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.