Inspire Investing LLC Sells 141,644 Shares of Precigen, Inc. $PGEN

by · The Cerbat Gem

Inspire Investing LLC lowered its holdings in shares of Precigen, Inc. (NASDAQ:PGEN – Free Report) by 51.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 134,226 shares of the biotechnology company’s stock after selling 141,644 shares during the period. Inspire Investing LLC’s holdings in Precigen were worth $442,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Vontobel Holding Ltd. purchased a new stake in shares of Precigen in the third quarter worth $48,000. Flower City Capital purchased a new stake in shares of Precigen during the third quarter valued at approximately $66,000. BNP Paribas Financial Markets grew its holdings in shares of Precigen by 134.7% during the second quarter. BNP Paribas Financial Markets now owns 48,803 shares of the biotechnology company’s stock valued at $69,000 after buying an additional 28,005 shares during the last quarter. Bank of America Corp DE increased its position in shares of Precigen by 258.2% during the second quarter. Bank of America Corp DE now owns 832,261 shares of the biotechnology company’s stock valued at $1,182,000 after acquiring an additional 599,914 shares in the last quarter. Finally, Diametric Capital LP purchased a new position in Precigen in the 2nd quarter worth approximately $476,000. Hedge funds and other institutional investors own 33.51% of the company’s stock.

Insider Buying and Selling

In other Precigen news, Director Randal J. Kirk sold 1,900,036 shares of the company’s stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $4.18, for a total value of $7,942,150.48. Following the completion of the transaction, the director directly owned 341,189 shares in the company, valued at $1,426,170.02. This represents a 84.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last 90 days, insiders sold 4,866,329 shares of company stock valued at $20,233,899. 47.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on PGEN shares. Wall Street Zen cut shares of Precigen from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. HC Wainwright upped their price objective on Precigen from $8.50 to $9.00 and gave the company a “buy” rating in a research report on Friday, November 14th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Precigen in a report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $8.50.

Get Our Latest Analysis on PGEN

Precigen Stock Down 4.3%

PGEN stock opened at $4.26 on Wednesday. The business’s 50-day moving average price is $4.00 and its 200-day moving average price is $3.20. The stock has a market cap of $1.51 billion, a P/E ratio of -3.06 and a beta of 1.16. The company has a quick ratio of 3.95, a current ratio of 4.04 and a debt-to-equity ratio of 2.22. Precigen, Inc. has a twelve month low of $0.90 and a twelve month high of $5.22.

Precigen (NASDAQ:PGEN – Get Free Report) last announced its quarterly earnings data on Thursday, November 13th. The biotechnology company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.03). Precigen had a negative net margin of 3,912.92% and a positive return on equity of 1,066.10%. The firm had revenue of $2.92 million for the quarter, compared to the consensus estimate of $0.67 million. On average, equities research analysts forecast that Precigen, Inc. will post -0.32 EPS for the current year.

Precigen Company Profile

(Free Report)

Precigen, Inc (NASDAQ: PGEN) is a biotechnology company focused on the discovery, development and commercialization of genetic medicines. The company leverages proprietary gene and cell therapy platforms to design targeted therapies for oncology, infectious diseases and rare conditions. Precigen’s approach combines synthetic biology, immuno-oncology and microbiome engineering to create precision treatments intended to enhance efficacy while minimizing off-target effects.

The centerpiece of Precigen’s technology is its OmniCAR platform, which enables the rapid generation of adaptable chimeric antigen receptor (CAR) T-cell products.

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