Precigen (NASDAQ:PGEN) Stock Price Down 9% - Time to Sell?

Precigen, Inc. (NASDAQ:PGEN - Get Free Report)'s stock price fell 9% on Wednesday . The stock traded as low as $4.46 and last traded at $4.4140. 3,247,466 shares were traded during mid-day trading, a decline of 24% from the average session volume of 4,255,193 shares. The stock had previously closed at $4.85.

Analysts Set New Price Targets

Several research analysts have recently commented on PGEN shares. Weiss Ratings reissued a "sell (d-)" rating on shares of Precigen in a report on Wednesday, October 8th. Citigroup reissued an "outperform" rating on shares of Precigen in a research note on Tuesday, August 19th. JMP Securities increased their price target on shares of Precigen from $6.00 to $8.00 and gave the stock a "market outperform" rating in a report on Tuesday, August 19th. Wall Street Zen downgraded shares of Precigen from a "hold" rating to a "sell" rating in a report on Saturday. Finally, HC Wainwright upped their target price on shares of Precigen from $8.50 to $9.00 and gave the stock a "buy" rating in a research report on Friday, November 14th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $8.50.

View Our Latest Research Report on PGEN

Precigen Stock Performance

The company has a market cap of $1.57 billion, a P/E ratio of -3.18 and a beta of 1.71. The business has a 50 day moving average price of $3.82 and a two-hundred day moving average price of $2.67. The company has a debt-to-equity ratio of 2.22, a quick ratio of 3.95 and a current ratio of 4.04.

Precigen (NASDAQ:PGEN - Get Free Report) last announced its quarterly earnings results on Thursday, November 13th. The biotechnology company reported ($0.11) EPS for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.03). Precigen had a positive return on equity of 1,066.10% and a negative net margin of 3,912.92%.The company had revenue of $2.92 million during the quarter, compared to analysts' expectations of $0.67 million. On average, sell-side analysts anticipate that Precigen, Inc. will post -0.32 earnings per share for the current year.

Insider Activity

In related news, Director Jeffrey B. Kindler sold 106,837 shares of the business's stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $3.38, for a total transaction of $361,109.06. Following the transaction, the director owned 346,070 shares in the company, valued at $1,169,716.60. The trade was a 23.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Randal J. Kirk sold 1,809,667 shares of the stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $3.41, for a total value of $6,170,964.47. Following the completion of the sale, the director owned 14,597,161 shares of the company's stock, valued at approximately $49,776,319.01. This trade represents a 11.03% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders acquired 38,861 shares of company stock worth $165,315 and sold 6,984,279 shares worth $25,428,688. Insiders own 47.10% of the company's stock.

Institutional Trading of Precigen

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PGEN. Caitong International Asset Management Co. Ltd purchased a new position in Precigen during the 3rd quarter valued at $39,000. Russell Investments Group Ltd. bought a new stake in shares of Precigen during the third quarter valued at approximately $41,000. Vontobel Holding Ltd. bought a new stake in shares of Precigen during the third quarter valued at approximately $48,000. Flower City Capital purchased a new stake in Precigen in the third quarter worth $66,000. Finally, Squarepoint Ops LLC bought a new position in Precigen in the third quarter worth $75,000. Hedge funds and other institutional investors 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.

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