Precigen (NASDAQ:PGEN) Downgraded by BidaskClub to Sell

BidaskClub downgraded shares of Precigen (NASDAQ:PGEN) from a hold rating to a sell rating in a research note released on Thursday morning, BidAskClub reports.

Several other research firms have also recently weighed in on PGEN. Zacks Investment Research cut Precigen from a buy rating to a hold rating in a research report on Wednesday, August 12th. HC Wainwright reissued a buy rating and issued a $8.00 price objective on shares of Precigen in a report on Wednesday, June 24th. Finally, ValuEngine lowered shares of Precigen from a buy rating to a hold rating in a research report on Thursday, August 27th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $8.75.

Shares of PGEN stock opened at $4.39 on Thursday. Precigen has a 12 month low of $1.26 and a 12 month high of $7.28. The company has a market capitalization of $784.41 million, a P/E ratio of -2.14 and a beta of 1.76. The stock has a 50 day moving average of $4.55 and a two-hundred day moving average of $4.15. The company has a current ratio of 2.70, a quick ratio of 2.50 and a debt-to-equity ratio of 3.86.

Precigen (NASDAQ:PGEN) last announced its quarterly earnings data on Monday, August 10th. The biotechnology company reported ($0.07) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.03) by ($0.04). Precigen had a negative net margin of 321.21% and a negative return on equity of 105.68%. The firm had revenue of $30.42 million during the quarter, compared to the consensus estimate of $20.27 million. Sell-side analysts predict that Precigen will post -0.45 earnings per share for the current fiscal year.

In related news, SVP Jeffrey Thomas Perez sold 7,660 shares of the stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $5.22, for a total transaction of $39,985.20. Following the completion of the sale, the senior vice president now directly owns 250,889 shares in the company, valued at approximately $1,309,640.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Trading S.A. Ares purchased 6,758,400 shares of Precigen stock in a transaction that occurred on Wednesday, October 7th. The shares were bought at an average price of $3.70 per share, for a total transaction of $25,006,080.00. Following the completion of the transaction, the insider now owns 27,398,519 shares in the company, valued at $101,374,520.30. The disclosure for this purchase can be found here. Corporate insiders own 50.70% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Global Retirement Partners LLC bought a new stake in shares of Precigen during the 2nd quarter valued at $25,000. Great West Life Assurance Co. Can acquired a new position in Precigen during the second quarter worth $25,000. Valeo Financial Advisors LLC increased its position in Precigen by 115.9% during the 2nd quarter. Valeo Financial Advisors LLC now owns 6,519 shares of the biotechnology company’s stock worth $33,000 after purchasing an additional 3,500 shares in the last quarter. Victory Capital Management Inc. acquired a new position in shares of Precigen in the first quarter valued at approximately $29,000. Finally, CWM Advisors LLC lifted its position in Precigen by 30.7% during the second quarter. CWM Advisors LLC now owns 11,313 shares of the biotechnology company’s stock worth $56,000 after buying an additional 2,654 shares during the period. Institutional investors own 70.34% of the company’s stock.

Precigen Company Profile

Precigen, Inc engages in the engineering and industrialization of biology in the United States. The company, through a suite of proprietary and complementary technologies, designs, builds, and regulates gene programs, which are DNA sequences that consist of key genetic components. It provides reproductive technologies and other genetic processes to cattle breeders and producers; biological insect control solutions; technologies for non-browning apple without the use of artificial additives; genetically engineered swine for medical and genetic research; commercial aquaculture products; and preservation and cloning technologies.

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