Precigen (NASDAQ:PGEN) Stock Price Up 6.9% – What’s Next?

Precigen, Inc. (NASDAQ:PGEN) shot up 6.9% during mid-day trading on Friday . The company traded as high as $1.89 and last traded at $1.93. 497,440 shares were traded during mid-day trading, a decline of 57% from the average session volume of 1,169,419 shares. The stock had previously closed at $1.80.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PGEN. JMP Securities reiterated a “market outperform” rating and issued a $5.00 price objective on shares of Precigen in a report on Tuesday, January 14th. HC Wainwright reiterated a “buy” rating and issued a $6.00 price objective on shares of Precigen in a report on Thursday. Two investment analysts have rated the stock with a sell rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $7.00.

Precigen Price Performance

The firm’s 50 day moving average is $1.60 and its two-hundred day moving average is $1.15. The firm has a market capitalization of $537.12 million, a P/E ratio of -3.32 and a beta of 1.58.

Precigen (NASDAQ:PGEN) last released its earnings results on Wednesday, March 19th. The biotechnology company reported ($0.04) earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $1.19 million during the quarter, compared to analysts’ expectations of $1.30 million. Analysts anticipate that Precigen, Inc. will post -0.32 EPS for the current fiscal year.

Hedge Funds Weigh In On Precigen

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Iridian Asset Management LLC CT boosted its position in Precigen by 38.8% during the fourth quarter. Iridian Asset Management LLC CT now owns 5,241,922 shares of the biotechnology company’s stock worth $5,871,000 after purchasing an additional 1,465,962 shares during the period. Geode Capital Management LLC boosted its position in Precigen by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 3,299,851 shares of the biotechnology company’s stock worth $3,696,000 after purchasing an additional 53,343 shares during the period. State Street Corp boosted its position in Precigen by 1.0% during the third quarter. State Street Corp now owns 2,872,064 shares of the biotechnology company’s stock worth $2,720,000 after purchasing an additional 29,253 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Precigen by 4.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,278,862 shares of the biotechnology company’s stock worth $1,432,000 after purchasing an additional 56,012 shares during the period. Finally, Northern Trust Corp boosted its position in Precigen by 11.6% during the fourth quarter. Northern Trust Corp now owns 1,168,689 shares of the biotechnology company’s stock worth $1,309,000 after purchasing an additional 121,700 shares during the period. 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.