Precigen (NASDAQ:PGEN) Trading 8.4% Higher – Here’s What Happened

Precigen, Inc. (NASDAQ:PGEN)’s share price rose 8.4% during mid-day trading on Tuesday . The stock traded as high as $2.03 and last traded at $2.13. Approximately 502,453 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 2,153,742 shares. The stock had previously closed at $1.96.

Wall Street Analyst Weigh In

PGEN has been the topic of several analyst reports. HC Wainwright reiterated a “buy” rating and issued a $6.00 target price (up previously from $4.00) on shares of Precigen in a research note on Thursday, January 23rd. JMP Securities reaffirmed a “market outperform” rating and issued a $5.00 price objective on shares of Precigen in a research 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, Precigen has an average rating of “Hold” and a consensus target price of $7.00.

Precigen Trading Up 3.1 %

The company’s 50 day simple moving average is $1.20 and its 200-day simple moving average is $1.05. The firm has a market cap of $591.60 million, a P/E ratio of -3.67 and a beta of 1.66.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PGEN. The Manufacturers Life Insurance Company raised its stake in Precigen by 40.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 56,998 shares of the biotechnology company’s stock valued at $90,000 after buying an additional 16,486 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of Precigen by 44.2% in the third quarter. SG Americas Securities LLC now owns 45,063 shares of the biotechnology company’s stock worth $43,000 after acquiring an additional 13,823 shares during the period. Exchange Traded Concepts LLC increased its position in Precigen by 10.2% during the third quarter. Exchange Traded Concepts LLC now owns 167,496 shares of the biotechnology company’s stock valued at $159,000 after acquiring an additional 15,525 shares during the last quarter. Traphagen Investment Advisors LLC bought a new position in Precigen in the third quarter valued at about $29,000. Finally, China Universal Asset Management Co. Ltd. boosted its position in Precigen by 86.6% in the third quarter. China Universal Asset Management Co. Ltd. now owns 55,337 shares of the biotechnology company’s stock worth $52,000 after purchasing an additional 25,681 shares during the last quarter. 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.