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

HC Wainwright restated their buy rating on shares of Precigen (NASDAQ:PGEN - Free Report) in a research report sent to investors on Friday,Benzinga reports. The firm currently has a $4.00 price target on the biotechnology company's stock.

Several other equities research analysts have also recently commented on the stock. StockNews.com raised shares of Precigen to a "sell" rating in a research report on Thursday, August 1st. JMP Securities lowered their price objective on shares of Precigen from $14.00 to $7.00 and set a "market outperform" rating for the company in a report on Thursday, August 15th. Two investment analysts have rated the stock with a sell rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $7.00.

Precigen Price Performance

NASDAQ:PGEN traded down $0.07 during mid-day trading on Friday, reaching $0.82. 1,580,079 shares of the company's stock traded hands, compared to its average volume of 953,847. The company has a 50 day moving average price of $0.92 and a 200-day moving average price of $1.25. The firm has a market capitalization of $206.48 million, a price-to-earnings ratio of -1.63 and a beta of 1.68. Precigen has a 12-month low of $0.78 and a 12-month high of $1.93.

Precigen (NASDAQ:PGEN - Get Free Report) last announced its earnings results on Wednesday, August 14th. The biotechnology company reported ($0.10) EPS for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.01). The business had revenue of $0.72 million for the quarter, compared to the consensus estimate of $1.28 million. Precigen had a negative net margin of 3,084.55% and a negative return on equity of 90.99%. As a group, analysts forecast that Precigen will post -0.44 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. EntryPoint Capital LLC bought a new position in shares of Precigen during the first quarter valued at approximately $31,000. Traphagen Investment Advisors LLC purchased a new stake in Precigen during the 3rd quarter valued at about $29,000. SG Americas Securities LLC grew its holdings in shares of Precigen by 44.2% during the third quarter. SG Americas Securities LLC now owns 45,063 shares of the biotechnology company's stock valued at $43,000 after buying an additional 13,823 shares during the last quarter. AQR Capital Management LLC increased its holdings in Precigen by 56.7% in the 2nd quarter. AQR Capital Management LLC now owns 50,002 shares of the biotechnology company's stock worth $79,000 after buying an additional 18,097 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its position in 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 worth $52,000 after purchasing an additional 25,681 shares during the period. 33.51% of the stock is currently 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.