Precigen (NASDAQ:PGEN) Upgraded at StockNews.com

StockNews.com upgraded shares of Precigen (NASDAQ:PGEN) to a sell rating in a research report released on Tuesday morning.

Several other equities research analysts have also recently weighed in on PGEN. JMP Securities reaffirmed a market outperform rating and issued a $14.00 price target on shares of Precigen in a research note on Wednesday, March 20th. HC Wainwright reaffirmed a buy rating and issued a $6.00 price target on shares of Precigen in a research note on Wednesday, May 15th. Stifel Nicolaus reissued a buy rating and issued a $7.00 target price on shares of Precigen in a research note on Wednesday, May 15th. Cantor Fitzgerald reissued an overweight rating on shares of Precigen in a research note on Wednesday, May 15th. Finally, JPMorgan Chase & Co. cut Precigen from a neutral rating to an underweight rating in a research note on Friday, March 22nd. Two analysts have rated the stock with a sell rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Precigen has an average rating of Hold and a consensus price target of $9.00.

Precigen Stock Performance

Shares of PGEN stock opened at $1.34 on Tuesday. The company has a market capitalization of $338.24 million, a P/E ratio of -3.44 and a beta of 1.77. The stock has a 50 day moving average price of $1.39 and a two-hundred day moving average price of $1.35. Precigen has a fifty-two week low of $0.84 and a fifty-two week high of $1.88.

Precigen (NASDAQ:PGEN) last announced its earnings results on Tuesday, May 14th. The biotechnology company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). The business had revenue of $1.07 million for the quarter, compared to the consensus estimate of $1.54 million. Precigen had a negative net margin of 1,781.72% and a negative return on equity of 65.36%. During the same quarter in the prior year, the company earned ($0.10) EPS. As a group, equities analysts predict that Precigen will post -0.36 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Fortis Group Advisors LLC bought a new position in shares of Precigen during the first quarter valued at $28,000. EntryPoint Capital LLC bought a new position in shares of Precigen during the first quarter valued at $31,000. Fisher Asset Management LLC bought a new position in shares of Precigen during the fourth quarter valued at $29,000. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Precigen by 338.8% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 28,788 shares of the biotechnology company’s stock valued at $39,000 after purchasing an additional 22,227 shares in the last quarter. Finally, Diversified Trust Co bought a new position in shares of Precigen during the fourth quarter valued at $39,000. 33.51% of the stock is owned by institutional investors.

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.