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

Precigen, Inc. (NASDAQ:PGEN) has earned a consensus rating of “Moderate Buy” from the five analysts that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation and four have given a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $7.00.

PGEN has been the subject of several research reports. HC Wainwright reissued a “buy” rating and set a $6.00 price objective (up from $4.00) on shares of Precigen in a research note on Thursday, January 23rd. JMP Securities restated a “market outperform” rating and set a $5.00 price target on shares of Precigen in a research note on Tuesday, January 14th.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. ProShare Advisors LLC increased its stake in Precigen by 26.6% during the 4th quarter. ProShare Advisors LLC now owns 51,822 shares of the biotechnology company’s stock worth $58,000 after buying an additional 10,900 shares during the period. Cetera Investment Advisers grew its stake in shares of Precigen by 8.9% during the fourth quarter. Cetera Investment Advisers now owns 283,562 shares of the biotechnology company’s stock valued at $318,000 after acquiring an additional 23,250 shares in the last quarter. Cary Street Partners Financial LLC purchased a new stake in shares of Precigen during the fourth quarter worth about $98,000. Bank of America Corp DE lifted its stake in shares of Precigen by 11.6% in the fourth quarter. Bank of America Corp DE now owns 207,300 shares of the biotechnology company’s stock worth $232,000 after acquiring an additional 21,626 shares in the last quarter. Finally, BNP Paribas Financial Markets purchased a new position in Precigen in the fourth quarter valued at about $27,000. 33.51% of the stock is owned by institutional investors and hedge funds.

Precigen Trading Down 2.2 %

NASDAQ PGEN opened at $1.74 on Tuesday. The stock has a market capitalization of $509.59 million, a price-to-earnings ratio of -3.16 and a beta of 1.57. The business’s 50 day moving average is $1.53 and its two-hundred day moving average is $1.12. Precigen has a 12-month low of $0.65 and a 12-month high of $2.17.

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.