Precigen, Inc. (NASDAQ:PGEN) Receives Average Recommendation of “Moderate Buy” from Brokerages

Precigen, Inc. (NASDAQ:PGEN) has earned an average rating of “Moderate Buy” from the five ratings firms that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation and four have issued a buy recommendation on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $7.00.

A number of equities analysts have commented on PGEN shares. HC Wainwright reissued a “buy” rating and issued a $6.00 price objective (up from $4.00) on shares of Precigen in a research note on Thursday, January 23rd. JMP Securities reiterated a “market outperform” rating and issued a $5.00 price target on shares of Precigen in a research report on Tuesday, January 14th.

Precigen Stock Performance

PGEN stock opened at $1.78 on Tuesday. The firm has a fifty day moving average price of $1.56 and a 200 day moving average price of $1.13. Precigen has a fifty-two week low of $0.65 and a fifty-two week high of $2.17. The firm has a market cap of $521.31 million, a PE ratio of -3.24 and a beta of 1.58.

Hedge Funds Weigh In On Precigen

Large investors have recently made changes to their positions in the company. Envestnet Asset Management Inc. lifted its stake in Precigen by 29.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 26,343 shares of the biotechnology company’s stock worth $30,000 after purchasing an additional 5,915 shares during the last quarter. Invesco Ltd. grew its stake in shares of Precigen by 14.6% during the fourth quarter. Invesco Ltd. now owns 47,307 shares of the biotechnology company’s stock valued at $53,000 after buying an additional 6,040 shares during the last quarter. ProShare Advisors LLC raised its holdings in shares of Precigen by 26.6% in the fourth 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. Stoneridge Investment Partners LLC lifted its stake in shares of Precigen by 21.3% during the 4th quarter. Stoneridge Investment Partners LLC now owns 68,681 shares of the biotechnology company’s stock worth $77,000 after acquiring an additional 12,063 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its holdings in Precigen by 12.0% during the 4th quarter. Wells Fargo & Company MN now owns 114,558 shares of the biotechnology company’s stock valued at $128,000 after acquiring an additional 12,285 shares during the period. 33.51% of the stock is owned by hedge funds and other 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.