Exchange Traded Concepts LLC Boosts Stock Holdings in Precigen, Inc. (NASDAQ:PGEN)

Exchange Traded Concepts LLC boosted its stake in shares of Precigen, Inc. (NASDAQ:PGEN) by 10.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 167,496 shares of the biotechnology company’s stock after acquiring an additional 15,525 shares during the period. Exchange Traded Concepts LLC’s holdings in Precigen were worth $159,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of PGEN. Fisher Asset Management LLC bought a new position in Precigen during the fourth quarter valued at $29,000. Fortis Group Advisors LLC purchased a new position in shares of Precigen during the 1st quarter worth about $28,000. Iridian Asset Management LLC CT boosted its stake in shares of Precigen by 4.3% during the 1st quarter. Iridian Asset Management LLC CT now owns 2,091,274 shares of the biotechnology company’s stock worth $3,032,000 after purchasing an additional 86,340 shares during the period. Vanguard Group Inc. boosted its stake in shares of Precigen by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 6,768,234 shares of the biotechnology company’s stock worth $9,814,000 after purchasing an additional 19,875 shares during the period. Finally, EntryPoint Capital LLC purchased a new position in shares of Precigen during the 1st quarter worth about $31,000. Institutional investors own 33.51% of the company’s stock.

Insider Transactions at Precigen

In other Precigen news, SVP Jeffrey Thomas Perez purchased 58,823 shares of the stock in a transaction dated Friday, August 9th. The stock was purchased at an average price of $0.85 per share, with a total value of $49,999.55. Following the transaction, the senior vice president now owns 743,097 shares of the company’s stock, valued at approximately $631,632.45. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 44.90% of the company’s stock.

Analyst Upgrades and Downgrades

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

Precigen Price Performance

Precigen stock opened at $0.93 on Tuesday. The firm has a 50-day moving average of $1.00 and a two-hundred day moving average of $1.31. Precigen, Inc. has a 1 year low of $0.82 and a 1 year high of $1.93. The stock has a market cap of $234.36 million, a price-to-earnings ratio of -1.72 and a beta of 1.66.

Precigen (NASDAQ:PGEN) last announced its quarterly earnings results on Wednesday, August 14th. The biotechnology company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.01). Precigen had a negative return on equity of 90.99% and a negative net margin of 3,084.55%. The business had revenue of $0.72 million during the quarter, compared to analysts’ expectations of $1.28 million. Research analysts expect that Precigen, Inc. will post -0.44 earnings per share for the current year.

Precigen 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.