Precigen (NASDAQ:PGEN) Stock Price Up 6.9% – Should You Buy?

Precigen, Inc. (NASDAQ:PGEN)’s share price traded up 6.9% during mid-day trading on Friday . The company traded as high as $1.89 and last traded at $1.93. 497,440 shares changed hands during mid-day trading, a decline of 57% from the average session volume of 1,169,419 shares. The stock had previously closed at $1.80.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PGEN. HC Wainwright reissued a “buy” rating and issued a $6.00 price target on shares of Precigen in a report on Thursday. JMP Securities reaffirmed a “market outperform” rating and issued a $5.00 target price on shares of Precigen in a report on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $7.00.

Precigen Price Performance

The firm has a market cap of $532.22 million, a P/E ratio of -3.29 and a beta of 1.58. The stock’s 50-day simple moving average is $1.61 and its two-hundred day simple moving average is $1.15.

Precigen (NASDAQ:PGEN) last released its quarterly earnings data on Wednesday, March 19th. The biotechnology company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.02. The company had revenue of $1.19 million during the quarter, compared to analyst estimates of $1.30 million. Precigen had a negative net margin of 3,521.68% and a negative return on equity of 123.06%. As a group, sell-side analysts expect that Precigen, Inc. will post -0.32 earnings per share for the current year.

Hedge Funds Weigh In On Precigen

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. grew its stake in shares of Precigen by 11.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,222,850 shares of the biotechnology company’s stock worth $1,158,000 after acquiring an additional 127,467 shares in the last quarter. FMR LLC lifted its position in Precigen by 26.4% in the third quarter. FMR LLC now owns 345,204 shares of the biotechnology company’s stock valued at $327,000 after acquiring an additional 72,033 shares during the last quarter. HighTower Advisors LLC lifted its position in Precigen by 186.8% in the third quarter. HighTower Advisors LLC now owns 192,144 shares of the biotechnology company’s stock valued at $179,000 after acquiring an additional 125,145 shares during the last quarter. Stifel Financial Corp lifted its position in Precigen by 94.9% in the third quarter. Stifel Financial Corp now owns 32,200 shares of the biotechnology company’s stock valued at $30,000 after acquiring an additional 15,680 shares during the last quarter. Finally, State Street Corp raised its holdings in shares of Precigen by 1.0% in the third quarter. State Street Corp now owns 2,872,064 shares of the biotechnology company’s stock valued at $2,720,000 after buying an additional 29,253 shares during the last quarter. Institutional investors and hedge funds own 33.51% of the company’s stock.

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.