Stocks

Brokerages Set Precigen, Inc. (NASDAQ:PGEN) Target Price at $6.33

Published January 25, 2025

Precigen, Inc. (NASDAQ:PGEN) has recently been assigned a target price of $6.33 by several brokerage firms, as reported on January 25, 2025. The company currently holds a consensus rating of "Moderate Buy" from five analysts covering its stock. Among these analysts, one has issued a sell rating while four have recommended buying the stock. The average target price set by analysts over the past year stands at $7.00.

In recent research reports, JMP Securities confirmed a "market outperform" rating for Precigen and established a target price of $5.00 on January 14th. Additionally, HC Wainwright upgraded its rating to "buy" and raised its target from $4.00 to $6.00 in a report released on Thursday.

Precigen Stock Performance

On the trading day following these reports, NASDAQ:PGEN opened at $1.39, which reflects a 3.7% increase. The company's 50-day moving average is $0.94, while the 200-day moving average is $1.06. Over the past year, Precigen's stock has seen a low of $0.65 and a high of $1.93. With a market capitalization of $407.09 million, the company has a price-to-earnings (P/E) ratio of -2.53 and a beta of 1.65.

Institutional Interest

Recent activity among hedge funds shows a growing interest in Precigen as several institutions have adjusted their holdings. Traphagen Investment Advisors LLC purchased a new stake in Precigen worth $29,000 in the third quarter. Stifel Financial Corp significantly increased its position by nearly 95%, owning 32,200 shares valued at $30,000 after acquiring an additional 15,680 shares. SG Americas Securities LLC also increased its stake by 44.2%, now holding 45,063 shares valued at $43,000 after adding 13,823 shares during the same period. Furthermore, China Universal Asset Management Co. Ltd. raised its holdings by 86.6%, acquiring 25,681 additional shares for a total of 55,337 shares worth $52,000. AQR Capital Management LLC also boosted its position by 56.7%, now owning 50,002 shares valued at $79,000 after buying 18,097 additional shares. Currently, institutional investors hold approximately 33.51% of Precigen's stock.

Company Overview

Precigen, Inc. operates as a discovery and clinical-stage biopharmaceutical company. It focuses on developing gene and cell therapies aimed at treating various diseases using precision technology. The company primarily operates in therapeutic areas such as immuno-oncology, autoimmune disorders, and infectious diseases, and has two main segments: Biopharmaceuticals and Exemplar.

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