JMP Securities Cuts Precigen (NASDAQ:PGEN) Price Target to $7.00

Precigen (NASDAQ:PGEN) had its price objective lowered by JMP Securities from $14.00 to $7.00 in a research note released on Thursday, Benzinga reports. The brokerage currently has a market outperform rating on the biotechnology company’s stock.

A number of other equities research analysts also recently weighed in on PGEN. Cantor Fitzgerald restated an overweight rating on shares of Precigen in a research report on Wednesday, May 15th. Stifel Nicolaus upped their target price on shares of Precigen from $7.00 to $10.00 and gave the company a buy rating in a research report on Monday, June 3rd. StockNews.com raised shares of Precigen to a sell rating in a research note on Thursday, August 1st. Finally, HC Wainwright dropped their price target on shares of Precigen from $6.00 to $4.00 and set a buy rating for the company in a research note on Thursday. Two analysts have rated the stock with a sell rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Hold and an average target price of $7.00.

Precigen Price Performance

PGEN stock opened at $1.09 on Thursday. The company has a 50 day moving average price of $1.50 and a 200 day moving average price of $1.46. Precigen has a fifty-two week low of $0.84 and a fifty-two week high of $1.93. The stock has a market capitalization of $275.14 million, a PE ratio of -2.79 and a beta of 1.73.

Insiders Place Their Bets

In other news, SVP Jeffrey Thomas Perez acquired 58,823 shares of Precigen stock in a transaction that occurred on Friday, August 9th. The shares were acquired at an average price of $0.85 per share, with a total value of $49,999.55. Following the purchase, the senior vice president now directly owns 743,097 shares of the company’s stock, valued at $631,632.45. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 44.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Fortis Group Advisors LLC acquired a new stake in shares of Precigen during the first quarter worth about $28,000. EntryPoint Capital LLC bought a new position in Precigen in the first quarter valued at approximately $31,000. Fisher Asset Management LLC acquired a new position in shares of Precigen in the fourth quarter valued at approximately $29,000. Simplicity Wealth LLC bought a new stake in shares of Precigen during the first quarter worth $51,000. Finally, China Universal Asset Management Co. Ltd. raised its holdings in shares of Precigen by 66.1% during the first quarter. China Universal Asset Management Co. Ltd. now owns 47,829 shares of the biotechnology company’s stock worth $69,000 after acquiring an additional 19,041 shares during the period. 33.51% of the stock is currently owned by 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.