Precigen (NASDAQ:PGEN) Trading 8.4% Higher – Here’s What Happened

Precigen, Inc. (NASDAQ:PGEN) rose 8.4% during mid-day trading on Tuesday . The stock traded as high as $2.03 and last traded at $2.13. Approximately 502,453 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 2,153,742 shares. The stock had previously closed at $1.96.

Analyst Ratings Changes

A number of research analysts have commented on the company. JMP Securities reaffirmed a “market outperform” rating and set a $5.00 price target on shares of Precigen in a research report on Tuesday, January 14th. HC Wainwright restated a “buy” rating and set a $6.00 target price (up previously from $4.00) on shares of Precigen in a report on Thursday, January 23rd. Two investment analysts have rated the stock with a sell rating and four have given a buy rating to the company. According to MarketBeat.com, Precigen has a consensus rating of “Hold” and a consensus target price of $7.00.

Precigen Stock Up 3.1 %

The company’s fifty day simple moving average is $1.20 and its 200 day simple moving average is $1.05. The firm has a market capitalization of $591.60 million, a PE ratio of -3.67 and a beta of 1.66.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in PGEN. BNP Paribas Financial Markets bought a new position in Precigen in the fourth quarter worth $27,000. Envestnet Asset Management Inc. increased its stake in shares of Precigen by 29.0% in the 4th quarter. Envestnet Asset Management Inc. now owns 26,343 shares of the biotechnology company’s stock worth $30,000 after acquiring an additional 5,915 shares in the last quarter. Traphagen Investment Advisors LLC purchased a new position in Precigen during the 3rd quarter valued at about $29,000. Boothbay Fund Management LLC bought a new stake in Precigen during the fourth quarter worth about $35,000. Finally, Stifel Financial Corp grew its holdings in Precigen by 94.9% in the third quarter. Stifel Financial Corp now owns 32,200 shares of the biotechnology company’s stock worth $30,000 after purchasing an additional 15,680 shares during the period. Hedge funds and other institutional investors own 33.51% of the company’s stock.

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.