Precigen (NASDAQ:PGEN) Reaches New 1-Year High – Here’s Why

Precigen, Inc. (NASDAQ:PGEN) hit a new 52-week high during trading on Wednesday . The company traded as high as $2.17 and last traded at $2.02, with a volume of 2193081 shares trading hands. The stock had previously closed at $1.96.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on PGEN shares. HC Wainwright reaffirmed a “buy” rating and issued a $6.00 price objective (up from $4.00) on shares of Precigen in a report on Thursday, January 23rd. JMP Securities reissued a “market outperform” rating and set a $5.00 price objective on shares of Precigen in a report on Tuesday, January 14th. Two equities research analysts have rated the stock with a sell rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $7.00.

Precigen Price Performance

The stock’s 50 day moving average is $1.25 and its 200-day moving average is $1.06.

Institutional Investors Weigh In On Precigen

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Envestnet Asset Management Inc. increased its holdings 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 acquiring an additional 5,915 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Precigen by 14.6% during the 4th quarter. Invesco Ltd. now owns 47,307 shares of the biotechnology company’s stock worth $53,000 after acquiring an additional 6,040 shares in the last quarter. ProShare Advisors LLC lifted its position in Precigen by 26.6% during the fourth quarter. ProShare Advisors LLC now owns 51,822 shares of the biotechnology company’s stock valued at $58,000 after purchasing an additional 10,900 shares during the last quarter. Stoneridge Investment Partners LLC grew its position in Precigen by 21.3% in the fourth quarter. Stoneridge Investment Partners LLC now owns 68,681 shares of the biotechnology company’s stock worth $77,000 after acquiring an additional 12,063 shares in the last quarter. Finally, Wells Fargo & Company MN raised its holdings in Precigen by 12.0% during the 4th quarter. Wells Fargo & Company MN now owns 114,558 shares of the biotechnology company’s stock valued at $128,000 after buying an additional 12,285 shares during the period. Hedge funds and other 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.