HC Wainwright Reiterates Buy Rating for Precigen (NASDAQ:PGEN)

Precigen (NASDAQ:PGEN)‘s stock had its “buy” rating reaffirmed by equities research analysts at HC Wainwright in a report issued on Friday,Benzinga reports. They currently have a $4.00 price target on the biotechnology company’s stock. HC Wainwright’s price target would indicate a potential upside of 353.05% from the stock’s current price.

A number of other analysts have also issued reports on PGEN. StockNews.com raised Precigen to a “sell” rating in a research note on Thursday, August 1st. JMP Securities decreased their target price on Precigen from $14.00 to $7.00 and set a “market outperform” rating for the company in a research note on Thursday, August 15th. 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, the stock presently has an average rating of “Hold” and an average target price of $7.00.

Precigen Stock Down 3.6 %

Shares of Precigen stock opened at $0.88 on Friday. The firm has a market cap of $223.16 million, a price-to-earnings ratio of -1.63 and a beta of 1.68. The company’s 50-day simple moving average is $0.92 and its 200-day simple moving average is $1.25. Precigen has a 52-week low of $0.79 and a 52-week high of $1.93.

Precigen (NASDAQ:PGEN) last announced its quarterly earnings results on Wednesday, August 14th. The biotechnology company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). Precigen had a negative net margin of 3,084.55% and a negative return on equity of 90.99%. The firm had revenue of $0.72 million during the quarter, compared to analysts’ expectations of $1.28 million. Equities research analysts anticipate that Precigen will post -0.44 EPS for the current year.

Institutional Investors Weigh In On Precigen

Several hedge funds have recently added to or reduced their stakes in PGEN. FMR LLC grew its position in Precigen by 26.4% during the third quarter. FMR LLC now owns 345,204 shares of the biotechnology company’s stock worth $327,000 after buying an additional 72,033 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Precigen by 11.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,222,850 shares of the biotechnology company’s stock valued at $1,158,000 after buying an additional 127,467 shares during the period. Mill Creek Capital Advisors LLC acquired a new position in Precigen during the third quarter valued at approximately $104,000. Iridian Asset Management LLC CT lifted its stake in Precigen by 82.5% during the third quarter. Iridian Asset Management LLC CT now owns 3,775,960 shares of the biotechnology company’s stock worth $3,576,000 after purchasing an additional 1,706,815 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. boosted its holdings in shares of Precigen by 86.6% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 55,337 shares of the biotechnology company’s stock valued at $52,000 after purchasing an additional 25,681 shares in the last quarter. Institutional investors and hedge funds own 33.51% of the company’s stock.

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.