Precigen Inc. (NASDAQ: PGEN): To Buy Or Not To Buy, That Is The Question


    Miller Value Partners LLC has recently announced that it has increased stake in Precigen Inc. (NASDAQ:PGEN) by 3.71%. After grabbing 7.72 million shares, the institutional investor is now in possession of 0.28 million shares of the Healthcare Company. The new investment brought the stake of investor firm to 4.49% having worth around $32.52 million. Moreover, BlackRock Fund Advisors increased its share by 0.27 million to have a control over 6.41 million shares. And Invesco Capital Management LLC raised its holdings to 0.8 million shares by acquiring 0.84 million shares or 0.49% of the stake.

    Precigen Inc. (PGEN) concluded trading on 08/19/20 at a closing price of $5.28, with 1.67 million shares of worth about $8.83 million changed hands on the day. Weekly performance of the stock remained positive as price took a surge of 21.66% during that period and on Wednesday the price saw a gain of about 7.98%. Currently the company’s common shares owned by public are about 164.07M shares, out of which, 145.15M shares are available for trading.

    A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 2 analysts are covering the PGEN stock and their offered price forecasts bring an average price target of $10.50. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $13.00 and could fall to a lowest price of $8.00. Analysts also issued an outlook of 2.30 for the Precigen Inc. stock for next 12 months. However, touching the estimated high of $13.00 would mean a gain of 59.38% for the stock.

    According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 59 times over the past 12 months. They bought 1,179,634 shares in 35 of the transactions. In 24 selling transactions, insiders dumped 113,870 shares.

    Miller Opportunity Trust, Vanguard Total Stock Market Index, and iShares NASDAQ Biotechnology ETF are the top 3 mutual funds which are holding stakes in Precigen Inc. Miller Opportunity Trust is currently holding 5.9 million shares of worth totaling $24.84 million. The company recently came buying 0.9 million shares which brought its stake up to 3.43% of the company’s outstanding shares. iShares NASDAQ Biotechnology ETF, after selling 1.78 million shares, have now control over 1.03% of the stake in the company. It holds 13717.0 shares of worth $7.49 million.

    Precigen Inc. (NASDAQ: PGEN) started trading at $4.87, below -$0.02 from concluding price of the previous day. However, the stock finished the trading on the day at a closing price of $5.28, or with a gain of 7.98%. Stock saw a price change of 21.66% in past 5 days and over the past one month there was a price change of 11.39%. Year-to-date (YTD), PGEN shares are showing a performance of -3.65% which decreased to -21.66% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $1.26 but also hit the highest price of $7.30 during that period. While comparing its average daily trading volume of 2.04 million shares, we see that about 1.67 million changed hands on the day. The stock is currently trading 15.67% above its 20-day simple moving average (SMA20), while that difference is up 15.51% for SMA50 and it goes to 21.37% higher than SMA200.

    Miller Value Partners LLC acquired 7.72 million shares of Precigen Inc. having value of about $32.52 million. Data submitted at the U.S SEC by Miller Value Partners LLC revealed that the firm now holds 0.28 million shares in the company valued at close to $1458589.44, or have control over 3.71% stake in the company. Precigen Inc. (NASDAQ: PGEN) currently have 164.07M outstanding shares and institutions hold larger chunk of about 71.90% of that. Holding of mutual funds in the company is about 50.21% while other institutional holders and individual stake holders have control over 9.03% and 13.82% of the stake respectively.

    The stock has a current market capitalization of $854.67M and its 3Y-monthly beta is at 1.47. It has posted earnings per share of -$1.14 in the same period. It has Quick Ratio of 2.50 while making debt-to-equity ratio of 4.51. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for PGEN, volatility over the week remained 9.34% while standing at 9.61% over the month.

    Analysts are in expectations that Precigen Inc. (PGEN) stock would likely to be making an EPS of -$0.15 in the current quarter, while forecast for next quarter ESPS is -$0.13 and it is -$0.45 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.2 which is -$0.1 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.34 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 57.60% while it is estimated to increase by 40.80% in next year. EPS is likely to grow at an annualized rate of 2.40% for next 5-years, compared to annual growth of -10.10% made by the stock over the past 5-years.

    Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by H.C. Wainwright on May 08, 2020 offering a Buy rating for the stock and assigned a target price of $5 to it.


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