Precigen Inc. (NASDAQ: PGEN): The Best-Of-Breed For Investing?


The Vanguard Group, Inc. recently announced the acquisition of new stake in Precigen Inc. (NASDAQ:PGEN). The institutional investor has increased its shareholding in the Healthcare company by 2.23% to 7.77 million shares with purchase of 0.17 million shares. This fresh investment now brings its stake to 4.51% valued currently at $38.79 million. In addition, SSgA Funds Management, Inc. raised its holdings by 44012.0 to 3.73 million shares. And Geode Capital Management LLC has lifted its position by 8.56% or 91938.0 shares – to 1.17 million shares.

With over 5.83 million Precigen Inc. (PGEN) shares trading Tuesday and a closing price of $4.60 on the day, the dollar volume was approximately $26.81 million. The shares have shown a positive weekly performance of 14.80% and its price on 08/10/20 lost nearly -10.16%. Currently, there are 160.34M common shares owned by the public and among those 143.85M shares have been available to trade.

An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 2 analysts who have offered their price forecasts for PGEN have a consensus price objective of $10.50. The analysts have set the share’s price value over the next 12 months at a high of $13.00 and a low of $8.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Precigen Inc. stock is 2.30 for the next 12 months. But an upside of 64.62% will see the stock hit the forecast high price target while mean target price for the stock is $10.50.

Insiders at the company have transacted a total of 59 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 35 of these insider trades were purchases, accounting for 1,179,634 shares. Insider sales of the common stock occurred on 24 occasions, with total insider shares sold totaling 113,870 shares.

The top 3 mutual fund holders in Precigen Inc. are Miller Opportunity Trust, Vanguard Total Stock Market Index, and Vanguard US Total Market Shares I. Miller Opportunity Trust owns 5.9 million shares of the company’s stock, all valued at over $29.44 million. The company bought an additional 0.9 million shares recently to bring their total holdings to about 3.43% of the shares outstanding. Vanguard US Total Market Shares I bought 1.87 million shares to bring its total holdings to over 1.87 million shares at a value of $9.32 million. Vanguard US Total Market Shares I now owns shares totaling to 1.09% of the shares outstanding.

Shares of Precigen Inc. (NASDAQ: PGEN) opened at $4.91, down -$0.21 from a prior closing price of $5.12. However, the script later closed the day at $4.60, down -10.16%. The company’s stock has a 5-day price change of 14.80% and 58.51% over the past three months. PGEN shares are trading -6.57% year to date (YTD), with the 12-month market performance down to -26.33% lower. It has a 12-month low price of $1.26 and touched a high of $7.30 over the same period. Currently, 5.83 million shares have been traded, compared to an average intraday trading volume of 1.97 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 0.40%, 4.25%, and 5.33% respectively.

Institutional ownership of Precigen Inc. (NASDAQ: PGEN) shares accounts for 73.00% of the company’s 160.34M shares outstanding. Mutual fund holders own 49.42%, while other institutional holders and individual stakeholders account for 9.01% and 15.01% respectively.

It has a market capitalization of $854.02M and a beta (3y monthly) value of 1.49. The earnings-per-share (ttm) stands at -$1.13. Price movements for the stock have been influenced by the stock’s volatility, which stands at 7.70% over the week and 7.03% over the month.

Analysts forecast that Precigen Inc. (PGEN) will achieve an EPS of -$0.16 for the current quarter, -$0.15 for the next quarter and -$0.54 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.23 while analysts give the company a high EPS estimate of -$0.1. Comparatively, EPS for the current quarter was -$0.34 a year ago. Earnings per share for the fiscal year are expected to increase by 57.60%, and 10.00% over the next financial year. EPS should grow at an annualized rate of 2.40% over the next five years, compared to -10.10% over the past 5-year period.

If you are looking to buy this stock, then you may note that the average analyst recommendation by 2 brokerage firm advisors rate Precigen Inc. (PGEN) as a “Moderate Buy” at a consensus score of 2.30. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 0 of the 2 advise that investors “hold,” and 0 rated it as a “Sell.”

Looking at the support for the PGEN, a number of firms have released research notes about the stock. H.C. Wainwright stated their Buy rating for the stock in a research note on May 08, 2020, with the firm’s price target at $5.


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