Precigen (NASDAQ:PGEN) Shares Up 6.9% – What’s Next?

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

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. JMP Securities reissued a “market outperform” rating and set a $5.00 target price on shares of Precigen in a report on Tuesday, January 14th. HC Wainwright reissued a “buy” rating and set a $6.00 target price on shares of Precigen in a report on Thursday. Two equities research analysts have rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Precigen currently has an average rating of “Hold” and an average target price of $7.00.

Precigen Stock Up 1.9 %

The firm has a market cap of $537.12 million, a price-to-earnings ratio of -3.32 and a beta of 1.58. The stock has a 50 day moving average of $1.60 and a 200 day moving average of $1.15.

Precigen (NASDAQ:PGEN) last posted its quarterly earnings results on Wednesday, March 19th. The biotechnology company reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.02. The business had revenue of $1.19 million during the quarter, compared to the consensus estimate of $1.30 million. Precigen had a negative return on equity of 123.06% and a negative net margin of 3,521.68%. As a group, analysts predict that Precigen, Inc. will post -0.32 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Iridian Asset Management LLC CT raised its stake in Precigen by 38.8% in 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 in the last quarter. Geode Capital Management LLC raised its stake in Precigen by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 3,299,851 shares of the biotechnology company’s stock worth $3,696,000 after acquiring an additional 53,343 shares in the last quarter. State Street Corp raised its stake in Precigen by 1.0% during the third quarter. State Street Corp now owns 2,872,064 shares of the biotechnology company’s stock worth $2,720,000 after acquiring an additional 29,253 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Precigen by 4.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,278,862 shares of the biotechnology company’s stock worth $1,432,000 after acquiring an additional 56,012 shares in the last quarter. Finally, Northern Trust Corp raised its stake in Precigen by 11.6% during the fourth quarter. Northern Trust Corp now owns 1,168,689 shares of the biotechnology company’s stock worth $1,309,000 after acquiring an additional 121,700 shares in the last quarter. Institutional investors and hedge funds 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.