Precigen (NASDAQ:PGEN) Stock Rating Upgraded by Zacks Investment Research

Precigen (NASDAQ:PGENGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, Zacks.com reports. The firm currently has a $1.50 price target on the biotechnology company’s stock. Zacks Investment Research‘s price target indicates a potential upside of 6.38% from the stock’s current price.

According to Zacks, “Precigen Inc. is a biopharmaceutical company. It specialise in the development of gene and cell therapies for immuno-oncology, autoimmune disorders and infectious diseases. The company’s transformative therapeutic platforms, including UltraCAR-T(TM), AdenoVerse(TM) cytokine therapies, multifunctional therapeutics and off-the-shelf AdenoVerse(TM) immunotherapies, as well as ActoBio Therapeutics, Exemplar Genetics and Triple-Gene from our subsidiaries. Precigen Inc., formerly known as Intrexon Corporation, is based in Germantown, Maryland. “

Shares of Precigen stock opened at $1.41 on Wednesday. The company has a debt-to-equity ratio of 1.70, a current ratio of 4.52 and a quick ratio of 4.14. The business’s 50 day simple moving average is $1.96 and its two-hundred day simple moving average is $2.98. The stock has a market capitalization of $292.84 million, a P/E ratio of -3.00 and a beta of 2.43. Precigen has a one year low of $1.28 and a one year high of $8.72.

Precigen (NASDAQ:PGENGet Rating) last posted its earnings results on Tuesday, March 1st. The biotechnology company reported ($0.13) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.14) by $0.01. Precigen had a negative return on equity of 67.60% and a negative net margin of 88.73%. The firm had revenue of $24.22 million for the quarter, compared to analysts’ expectations of $21.13 million. Sell-side analysts expect that Precigen will post -0.43 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of PGEN. State Street Corp increased its stake in shares of Precigen by 44.7% during the fourth quarter. State Street Corp now owns 7,016,045 shares of the biotechnology company’s stock valued at $26,030,000 after buying an additional 2,166,238 shares during the period. Millennium Management LLC increased its stake in shares of Precigen by 554.1% during the fourth quarter. Millennium Management LLC now owns 2,083,448 shares of the biotechnology company’s stock valued at $7,730,000 after buying an additional 1,764,940 shares during the period. Third Security LLC grew its stake in Precigen by 1.2% in the fourth quarter. Third Security LLC now owns 83,380,436 shares of the biotechnology company’s stock worth $309,341,000 after purchasing an additional 1,000,000 shares during the period. Morgan Stanley purchased a new stake in Precigen in the first quarter worth $2,245,000. Finally, Los Angeles Capital Management LLC purchased a new stake in Precigen in the third quarter worth $2,595,000. 78.16% of the stock is currently owned by hedge funds and other institutional investors.

About Precigen (Get Rating)

Precigen, Inc discovers and develops the next generation of gene and cellular therapies in the United States. It also provides disease-modifying therapeutics; genetically engineered swine for regenerative medicine applications; and reproductive and embryo transfer technologies. In addition, the company offers UltraVector platform that incorporates advanced DNA construction technologies and computational models to design and assemble genetic components into complex gene expression programs; mbIL15, a gene that enhances functional characteristics of immune cells; Sleeping Beauty, a non-viral transposon/transposase system; AttSite recombinases, which breaks and rejoins DNA at specific sequences; AdenoVerse technology platform, a library of engineered adenovector serotypes; and L.

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