Precigen (NASDAQ:PGEN) Shares Cross Below Two Hundred Day Moving Average - Time to Sell?

Precigen, Inc. (NASDAQ:PGEN - Get Free Report) shares passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $1.25 and traded as low as $0.91. Precigen shares last traded at $0.92, with a volume of 644,666 shares.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on PGEN shares. JMP Securities dropped their price target on shares of Precigen from $14.00 to $7.00 and set a "market outperform" rating on the stock in a research note on Thursday, August 15th. HC Wainwright decreased their price objective on shares of Precigen from $6.00 to $4.00 and set a "buy" rating for the company in a report on Thursday, August 15th. Finally, StockNews.com raised shares of Precigen to a "sell" rating in a report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating and four have assigned a buy rating to the company's stock. According to MarketBeat, Precigen has an average rating of "Hold" and a consensus target price of $7.00.

Precigen Trading Down 3.6 %

The business's fifty day simple moving average is $0.92 and its two-hundred day simple moving average is $1.25. The stock has a market capitalization of $223.16 million, a P/E ratio of -1.63 and a beta of 1.68.

Precigen (NASDAQ:PGEN - Get Free Report) last issued 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 company had revenue of $0.72 million during the quarter, compared to the consensus estimate of $1.28 million. On average, equities research analysts anticipate that Precigen, Inc. will post -0.44 earnings per share for the current year.

Hedge Funds Weigh In On Precigen

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Traphagen Investment Advisors LLC acquired a new stake in Precigen in the 3rd quarter valued at about $29,000. EntryPoint Capital LLC acquired a new stake in shares of Precigen during the 1st quarter worth approximately $31,000. SG Americas Securities LLC grew its position in shares of Precigen by 44.2% during the 3rd quarter. SG Americas Securities LLC now owns 45,063 shares of the biotechnology company's stock worth $43,000 after buying an additional 13,823 shares during the period. China Universal Asset Management Co. Ltd. grew its position in shares of Precigen by 86.6% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 55,337 shares of the biotechnology company's stock worth $52,000 after buying an additional 25,681 shares during the period. Finally, AQR Capital Management LLC grew its position in shares of Precigen by 56.7% during 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 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.