Precigen, Inc. (NASDAQ:PGEN) Receives $7.00 Consensus Price Target from Brokerages

Shares of Precigen, Inc. (NASDAQ:PGEN) have received an average rating of “Moderate Buy” from the five research firms that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $7.00.

A number of brokerages have issued reports on PGEN. StockNews.com raised shares of Precigen to a “sell” rating in a report on Thursday, August 1st. HC Wainwright cut their target price on Precigen from $6.00 to $4.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Finally, JMP Securities lowered their price target on Precigen from $14.00 to $7.00 and set a “market outperform” rating for the company in a research report on Thursday, August 15th.

Precigen Trading Up 2.6 %

NASDAQ PGEN opened at $0.98 on Wednesday. The stock has a 50-day moving average of $0.93 and a 200-day moving average of $1.26. Precigen has a 1-year low of $0.79 and a 1-year high of $1.93. The firm has a market cap of $246.65 million, a PE ratio of -1.81 and a beta of 1.68.

Precigen (NASDAQ:PGEN) last released its quarterly earnings data on Wednesday, August 14th. The biotechnology company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $0.72 million for the quarter, compared to analysts’ expectations of $1.28 million. As a group, equities research analysts forecast that Precigen will post -0.44 earnings per share for the current fiscal year.

Institutional Trading of Precigen

Several large investors have recently bought and sold shares of the company. Iridian Asset Management LLC CT grew its position in shares of Precigen by 82.5% in the 3rd quarter. Iridian Asset Management LLC CT now owns 3,775,960 shares of the biotechnology company’s stock worth $3,576,000 after buying an additional 1,706,815 shares during the period. EntryPoint Capital LLC purchased a new stake in Precigen in the first quarter worth about $31,000. Vanguard Group Inc. increased its stake 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 valued at $9,814,000 after purchasing an additional 19,875 shares in the last quarter. Cetera Advisors LLC purchased a new position in shares of Precigen during the first quarter valued at approximately $367,000. Finally, Renaissance Technologies LLC boosted its position in shares of Precigen by 12.4% in the 2nd quarter. Renaissance Technologies LLC now owns 1,182,690 shares of the biotechnology company’s stock worth $1,869,000 after purchasing an additional 130,500 shares in the last quarter. 33.51% of the stock is owned by institutional investors.

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.