Precigen (NASDAQ:PGEN) Stock Price Passes Below Two Hundred Day Moving Average – Here’s Why

Precigen, Inc. (NASDAQ:PGEN) shares passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.25 and traded as low as $0.91. Precigen shares last traded at $0.92, with a volume of 644,666 shares changing hands.

Wall Street Analyst Weigh In

PGEN has been the subject of a number of recent research reports. HC Wainwright reissued a “buy” rating and issued a $4.00 price objective on shares of Precigen in a report on Friday. StockNews.com raised shares of Precigen to a “sell” rating in a report on Thursday, August 1st. Finally, JMP Securities cut their price objective on shares of Precigen from $14.00 to $7.00 and set a “market outperform” rating for the company in a report on Thursday, August 15th. Two research analysts have rated the stock with a sell rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $7.00.

Precigen Stock Performance

The firm has a market cap of $207.29 million, a P/E ratio of -1.63 and a beta of 1.68. The company’s 50 day moving average is $0.92 and its 200 day moving average is $1.25.

Precigen (NASDAQ:PGEN) last issued its quarterly earnings data on Wednesday, August 14th. The biotechnology company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.01). The company had revenue of $0.72 million during the quarter, compared to the consensus estimate of $1.28 million. Precigen had a negative net margin of 3,084.55% and a negative return on equity of 90.99%. On average, equities research analysts anticipate that Precigen, Inc. will post -0.44 EPS for the current year.

Hedge Funds Weigh In On Precigen

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. ClariVest Asset Management LLC increased its position in shares of Precigen by 2.9% during the second quarter. ClariVest Asset Management LLC now owns 492,152 shares of the biotechnology company’s stock worth $778,000 after buying an additional 13,752 shares during the period. SG Americas Securities LLC increased its position in shares of Precigen by 44.2% during the third quarter. SG Americas Securities LLC now owns 45,063 shares of the biotechnology company’s stock worth $43,000 after buying an additional 13,823 shares during the period. Exchange Traded Concepts LLC increased its position in shares of Precigen by 10.2% during the third quarter. Exchange Traded Concepts LLC now owns 167,496 shares of the biotechnology company’s stock worth $159,000 after buying an additional 15,525 shares during the period. Stifel Financial Corp increased its position in shares of Precigen by 94.9% during the third quarter. Stifel Financial Corp now owns 32,200 shares of the biotechnology company’s stock worth $30,000 after buying an additional 15,680 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in shares of Precigen by 40.7% during the second quarter. The Manufacturers Life Insurance Company now owns 56,998 shares of the biotechnology company’s stock worth $90,000 after buying an additional 16,486 shares during the period. 33.51% of the stock is currently owned by institutional investors and hedge funds.

About Precigen

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.