Precigen (NASDAQ:PGEN) Stock Price Down 4.2% – Time to Sell?

Shares of Precigen, Inc. (NASDAQ:PGEN) traded down 4.2% during mid-day trading on Monday . The stock traded as low as $1.73 and last traded at $1.73. 119,813 shares changed hands during trading, a decline of 94% from the average session volume of 1,997,533 shares. The stock had previously closed at $1.80.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. HC Wainwright reissued a “buy” rating and set a $6.00 price target (up from $4.00) on shares of Precigen in a report on Thursday, January 23rd. JMP Securities reissued a “market outperform” rating and set a $5.00 price target on shares of Precigen in a report on Tuesday, January 14th. Two investment analysts have rated the stock with a sell rating and four have issued a buy rating to the company. According to data from MarketBeat, Precigen presently has a consensus rating of “Hold” and an average target price of $7.00.

Precigen Stock Performance

The stock has a market cap of $489.09 million, a price-to-earnings ratio of -3.04 and a beta of 1.58. The firm’s 50-day simple moving average is $1.57 and its two-hundred day simple moving average is $1.14.

Institutional Investors Weigh In On Precigen

Institutional investors have recently modified their holdings of the business. State Street Corp grew its position in shares of Precigen by 1.0% during the 3rd quarter. State Street Corp now owns 2,872,064 shares of the biotechnology company’s stock worth $2,720,000 after buying an additional 29,253 shares during the period. LexAurum Advisors LLC grew its position in shares of Precigen by 151.9% during the 4th quarter. LexAurum Advisors LLC now owns 691,544 shares of the biotechnology company’s stock worth $775,000 after buying an additional 417,055 shares during the period. Iridian Asset Management LLC CT grew its holdings in Precigen by 38.8% during the fourth quarter. Iridian Asset Management LLC CT now owns 5,241,922 shares of the biotechnology company’s stock valued at $5,871,000 after purchasing an additional 1,465,962 shares during the period. Geode Capital Management LLC increased its stake in Precigen by 4.8% in the third quarter. Geode Capital Management LLC now owns 3,246,508 shares of the biotechnology company’s stock valued at $3,075,000 after purchasing an additional 149,829 shares in the last quarter. Finally, Stifel Financial Corp increased its stake 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 purchasing an additional 15,680 shares in 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.