Precigen, Inc. (NASDAQ:PGEN) was the target of unusual options trading on Friday. Investors bought 9,065 call options on the stock. This is an increase of approximately 1,218% from the average daily volume of 688 call options.
In related news, CFO Harry Jr Thomasian purchased 26,500 shares of Precigen in a trade dated Friday, November 26. The shares were purchased at an average cost of $3.80 per share, for a total transaction of $100,700.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available via this link. Also, director Randal J. Kirk bought 206,004 shares of the company in a transaction on Monday, November 22. The shares were purchased at an average cost of $3.59 per share, for a total transaction of $739,554.36. Disclosure of this purchase can be found here. Over the past three months, insiders have purchased 540,165 shares of the company worth $1,993,983 and sold 41,239 shares worth $149,183. Insiders of the company own 42.70% of the shares of the company.
A number of hedge funds have recently bought and sold shares of the company. Miller Value Partners LLC increased its stake in Precigen by 1.7% in the second quarter. Miller Value Partners LLC now owns 9,257,868 shares of the biotech company valued at $60,362,000 after purchasing an additional 156,393 shares during the period. Vanguard Group Inc. increased its position in Precigen by 4.8% in Q2. Vanguard Group Inc. now owns 9,160,301 shares of the biotech company valued at $59,726,000 after acquiring an additional 421,678 shares during the period. Geode Capital Management LLC increased its position in Precigen by 22.5% in the 2nd quarter. Geode Capital Management LLC now owns 1,825,435 shares of the biotech company valued at $11,901,000 after acquiring 334,776 additional shares during the period. Morgan Stanley increased its position in Precigen by 38.2% in the 2nd quarter. Morgan Stanley now owns 1,222,855 shares of the biotech company valued at $7,973,000 after acquiring 338,055 additional shares during the period. Finally, Invesco Ltd. increased its position in Precigen by 27.2% in the 2nd quarter. Invesco Ltd. now owns 1,208,714 shares of the biotech company valued at $7,880,000 after acquiring an additional 258,280 shares during the period. 66.66% of the shares are held by institutional investors.
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A number of research analysts have recently weighed in on PGEN shares. Zacks Investment Research upgraded Precigen from a “hold” rating to a “buy” rating and set a price target of $3.50 on the stock in a Tuesday, January 11 research report. JMP Securities reaffirmed a “buy” rating and issued a $13.00 price target on Precigen shares in a research note on Tuesday, December 14. Six investment analysts have rated the stock with a buy rating. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $11.25.
Precigen stock traded down $0.04 in Friday’s midday session, hitting $2.15. 1,293,195 shares of the company were traded, against an average volume of 1,790,541. The company has a market capitalization of $444.49 million, a PE ratio of -3.82 and a beta of 2.27. Precigen has a fifty-two week low of $2.13 and a fifty-two week high of $9.84. The company has a fifty-day simple moving average of $3.27 and a two-hundred-day simple moving average of $4.49. The company has a debt ratio of 1.37, a quick ratio of 4.94 and a current ratio of 5.28.
Precigen Inc (NASDAQ:PGEN) last reported results on Monday, November 8. The biotech company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.01). Precigen had a negative net margin of 109.91% and a negative return on equity of 68.90%. The company posted revenue of $21.56 million in the quarter, compared to $24.47 million expected by analysts. As a group, stock analysts expect Precigen to post -0.49 earnings per share for the current year.
Precigen Company Profile
Precigen, Inc is a biotechnology company engaged in the research and development of synthetic biology technologies. The company focuses on programming biological systems to mitigate disease, address environmental issues, and provide sustainable food and industrial chemicals. It operates through the following segments: PGEN Therapeutics, ActoBio, Trans Ova and Human Biotherapeutics.
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