The Manufacturers Life Insurance Company Purchases 16,486 Shares of Precigen, Inc. (NASDAQ:PGEN)

The Manufacturers Life Insurance Company raised its position in Precigen, Inc. (NASDAQ:PGEN) by 40.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 56,998 shares of the biotechnology company’s stock after acquiring an additional 16,486 shares during the period. The Manufacturers Life Insurance Company’s holdings in Precigen were worth $90,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cetera Advisors LLC purchased a new stake in shares of Precigen during the 1st quarter valued at $367,000. Renaissance Technologies LLC raised its stake in Precigen by 12.4% in the second quarter. Renaissance Technologies LLC now owns 1,182,690 shares of the biotechnology company’s stock valued at $1,869,000 after buying an additional 130,500 shares during the last quarter. Iridian Asset Management LLC CT boosted its holdings in Precigen by 4.3% in the first quarter. Iridian Asset Management LLC CT now owns 2,091,274 shares of the biotechnology company’s stock worth $3,032,000 after acquiring an additional 86,340 shares in the last quarter. Fisher Asset Management LLC purchased a new stake in shares of Precigen during the fourth quarter worth about $29,000. Finally, EntryPoint Capital LLC purchased a new stake in shares of Precigen during the first quarter worth about $31,000. 33.51% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Precigen

In other news, SVP Jeffrey Thomas Perez bought 58,823 shares of the stock in a transaction dated Friday, August 9th. The shares were acquired at an average cost of $0.85 per share, with a total value of $49,999.55. Following the purchase, the senior vice president now directly owns 743,097 shares in the company, valued at $631,632.45. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 44.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

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

Precigen Trading Up 4.2 %

Shares of PGEN stock opened at $0.95 on Monday. Precigen, Inc. has a twelve month low of $0.82 and a twelve month high of $1.93. The stock has a 50 day moving average of $1.00 and a 200 day moving average of $1.31. The stock has a market cap of $240.91 million, a P/E ratio of -1.76 and a beta of 1.66.

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

Precigen 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.