Precigen (NASDAQ:PGEN) Stock Price Up 6.9% - What's Next?

Precigen, Inc. (NASDAQ:PGEN) experienced a notable increase of 6.9% during mid-day trading on Friday. The stock reached a peak price of $1.89 and ended the session at $1.93. During this trading period, a total of 497,440 shares were exchanged, which marked a significant drop of 57% from the average trading volume of 1,169,419 shares. The stock had previously closed at $1.80.

Wall Street Analysts Forecast Growth

Several research firms have recently published analyses on Precigen. JMP Securities reaffirmed a "market outperform" rating with a price target of $5.00 in a report dated January 14. In a separate report, HC Wainwright maintained a "buy" rating and set a price target of $6.00 for the stock. While two investment analysts have issued sell ratings, four others have provided buy ratings. According to MarketBeat data, the stock currently holds a consensus rating of "Hold" along with an average price target of $7.00.

Precigen Price Performance

The company’s 50-day moving average stands at $1.60, while the 200-day moving average is $1.15. Currently, Precigen boasts a market capitalization of $537.12 million, has a P/E ratio of -3.32, and a beta of 1.58.

Precigen (NASDAQ:PGEN) last announced its earnings on March 19. The biotechnology firm reported earnings per share of ($0.04) for the quarter, surpassing analysts' average forecast of ($0.06) by $0.02. Nonetheless, Precigen reported a significantly negative net margin of 3,521.68% and a return on equity of -123.06%. The company generated revenue of $1.19 million for the quarter, which fell short of analysts' expectations of $1.30 million. Forecasts suggest that Precigen, Inc. will report an EPS of -0.32 for the current fiscal year.

Hedge Funds Weigh In On Precigen

Numerous hedge funds and institutional investors have recently adjusted their stakes in Precigen stock. Iridian Asset Management LLC CT increased its holdings by 38.8% during the fourth quarter, now owning 5,241,922 shares valued at $5,871,000 after adding 1,465,962 shares. Similarly, Geode Capital Management LLC raised its position by 1.6% in the same quarter, owning 3,299,851 shares worth $3,696,000 after acquiring an additional 53,343 shares. Other firms, including State Street Corp and Charles Schwab Investment Management Inc., also increased their stakes. Currently, institutional investors hold 33.51% of Precigen's stock.

About Precigen

Precigen, Inc. operates as a biopharmaceutical company focused on discovering and developing gene and cell therapies that utilize precision technology to combat diseases across areas such as immuno-oncology, autoimmune disorders, and infectious diseases. Its operations are divided into two segments: Biopharmaceuticals and Exemplar.

Investing Considerations

If you are contemplating an investment in Precigen, you may want to consider recent market analysis. While Precigen has received a Buy rating from several analysts, others have suggested there may be more promising investment opportunities available.

Precigen, Stocks, Investing