Sanders Morris Harris LLC Raises Stock Holdings in Precigen, Inc. (NASDAQ:PGEN)

Sanders Morris Harris LLC lifted its holdings in shares of Precigen, Inc. (NASDAQ:PGEN) by 27.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 325,000 shares of the biotechnology company’s stock after acquiring an additional 70,000 shares during the quarter. Sanders Morris Harris LLC owned 0.13% of Precigen worth $374,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of PGEN. Millennium Management LLC increased its position in shares of Precigen by 1,291.4% during the fourth quarter. Millennium Management LLC now owns 2,434,605 shares of the biotechnology company’s stock valued at $3,701,000 after acquiring an additional 2,259,629 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Precigen by 198.8% during the first quarter. Renaissance Technologies LLC now owns 2,190,790 shares of the biotechnology company’s stock valued at $2,322,000 after acquiring an additional 1,457,587 shares during the last quarter. BlackRock Inc. increased its position in shares of Precigen by 17.2% during the first quarter. BlackRock Inc. now owns 9,581,884 shares of the biotechnology company’s stock valued at $10,157,000 after acquiring an additional 1,409,360 shares during the last quarter. Bank of America Corp DE increased its position in shares of Precigen by 1,067.8% during the first quarter. Bank of America Corp DE now owns 1,310,411 shares of the biotechnology company’s stock valued at $1,389,000 after acquiring an additional 1,198,195 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Precigen by 39.4% during the first quarter. Geode Capital Management LLC now owns 2,637,666 shares of the biotechnology company’s stock valued at $2,796,000 after acquiring an additional 745,952 shares during the last quarter. 22.48% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Precigen

In other Precigen news, Director Steven Frank acquired 400,000 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The stock was bought at an average price of $1.72 per share, with a total value of $688,000.00. Following the completion of the purchase, the director now owns 882,358 shares of the company’s stock, valued at $1,517,655.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Precigen news, CEO Helen Sabzevari sold 52,870 shares of the firm’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $1.10, for a total transaction of $58,157.00. Following the sale, the chief executive officer now owns 1,309,503 shares in the company, valued at $1,440,453.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steven Frank purchased 400,000 shares of the stock in a transaction on Monday, August 14th. The shares were purchased at an average price of $1.72 per share, for a total transaction of $688,000.00. Following the transaction, the director now directly owns 882,358 shares of the company’s stock, valued at $1,517,655.76. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 359,020 shares of company stock valued at $513,769. Company insiders own 41.70% of the company’s stock.

Precigen Stock Up 1.0 %

Precigen stock opened at $1.49 on Friday. Precigen, Inc. has a one year low of $0.81 and a one year high of $2.76. The business has a fifty day moving average price of $1.45 and a 200-day moving average price of $1.25.

Precigen (NASDAQ:PGEN) last posted its quarterly earnings results on Wednesday, August 9th. The biotechnology company reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.02. Precigen had a negative return on equity of 47.08% and a net margin of 100.21%. The firm had revenue of $1.77 million during the quarter, compared to analyst estimates of $2.73 million. On average, research analysts predict that Precigen, Inc. will post -0.33 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have weighed in on PGEN. HC Wainwright reissued a “buy” rating and set a $6.00 price objective on shares of Precigen in a report on Thursday, August 10th. StockNews.com began coverage on Precigen in a report on Tuesday, August 22nd. They set a “sell” rating for the company. Finally, JPMorgan Chase & Co. began coverage on Precigen in a report on Tuesday, May 23rd. They set a “neutral” rating for the company. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Precigen presently has a consensus rating of “Hold” and a consensus price target of $10.00.

About Precigen

Precigen, Inc discovers and develops the next generation of gene and cellular therapies in the United States. The company operates through two segments, Biopharmaceuticals and Exemplar. It also provides disease-modifying therapeutics; genetically engineered swine for regenerative medicine applications; and reproductive technologies.