Precigen’s (PGEN) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright reissued their buy rating on shares of Precigen (NASDAQ:PGEN) in a report issued on Thursday,Benzinga reports. They currently have a $6.00 price objective on the biotechnology company’s stock.

Separately, JMP Securities restated a “market outperform” rating and set a $5.00 target price on shares of Precigen in a report on Tuesday, January 14th. Two research analysts have rated the stock with a sell rating and four have issued a buy rating to the stock. According to data from MarketBeat, Precigen has a consensus rating of “Hold” and an average price target of $7.00.

Precigen Stock Up 0.6 %

NASDAQ:PGEN opened at $1.80 on Thursday. The stock has a market cap of $527.16 million, a P/E ratio of -3.27 and a beta of 1.58. The firm’s fifty day simple moving average is $1.60 and its 200 day simple moving average is $1.15. Precigen has a twelve month low of $0.65 and a twelve month high of $2.17.

Precigen (NASDAQ:PGEN) last announced its earnings results on Wednesday, March 19th. The biotechnology company reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.02. Precigen had a negative net margin of 3,521.68% and a negative return on equity of 123.06%. The firm had revenue of $1.19 million for the quarter, compared to analysts’ expectations of $1.30 million. On average, analysts expect that Precigen will post -0.32 EPS for the current fiscal year.

Hedge Funds Weigh In On Precigen

A number of hedge funds have recently bought and sold shares of PGEN. BNP Paribas Financial Markets bought a new position in Precigen in the 4th quarter worth about $27,000. Stifel Financial Corp boosted its stake in Precigen by 94.9% in the 3rd quarter. Stifel Financial Corp now owns 32,200 shares of the biotechnology company’s stock worth $30,000 after purchasing an additional 15,680 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in Precigen by 29.0% in the 4th quarter. Envestnet Asset Management Inc. now owns 26,343 shares of the biotechnology company’s stock worth $30,000 after purchasing an additional 5,915 shares in the last quarter. Boothbay Fund Management LLC bought a new position in Precigen in the 4th quarter worth about $35,000. Finally, RPO LLC bought a new position in Precigen in the 4th quarter worth about $47,000. Institutional investors own 33.51% of the company’s stock.

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.