China Universal Asset Management Co. Ltd. Boosts Stock Holdings in Precigen, Inc. (NASDAQ:PGEN)

China Universal Asset Management Co. Ltd. boosted its stake in Precigen, Inc. (NASDAQ:PGEN) by 86.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 55,337 shares of the biotechnology company’s stock after purchasing an additional 25,681 shares during the quarter. China Universal Asset Management Co. Ltd.’s holdings in Precigen were worth $52,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Precigen by 0.3% in the first quarter. Vanguard Group Inc. now owns 6,768,234 shares of the biotechnology company’s stock worth $9,814,000 after buying an additional 19,875 shares in the last quarter. Iridian Asset Management LLC CT boosted its position in shares of Precigen by 4.3% during the 1st quarter. Iridian Asset Management LLC CT now owns 2,091,274 shares of the biotechnology company’s stock valued at $3,032,000 after acquiring an additional 86,340 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Precigen by 12.4% in the second quarter. Renaissance Technologies LLC now owns 1,182,690 shares of the biotechnology company’s stock valued at $1,869,000 after purchasing an additional 130,500 shares in the last quarter. ClariVest Asset Management LLC increased its position in Precigen by 2.9% in the second quarter. ClariVest Asset Management LLC now owns 492,152 shares of the biotechnology company’s stock worth $778,000 after purchasing an additional 13,752 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Precigen by 4.8% during the second quarter. Bank of New York Mellon Corp now owns 421,788 shares of the biotechnology company’s stock valued at $666,000 after purchasing an additional 19,301 shares in the last quarter. Institutional investors own 33.51% of the company’s stock.

Precigen Trading Down 4.3 %

Shares of NASDAQ:PGEN opened at $0.79 on Friday. The company has a market capitalization of $199.23 million, a price-to-earnings ratio of -1.46 and a beta of 1.66. Precigen, Inc. has a 12 month low of $0.79 and a 12 month high of $1.93. The firm’s 50-day moving average is $0.96 and its 200 day moving average is $1.28.

Precigen (NASDAQ:PGEN) last issued its quarterly earnings results on Wednesday, August 14th. The biotechnology company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.01). Precigen had a negative return on equity of 90.99% and a negative net margin of 3,084.55%. The business had revenue of $0.72 million during the quarter, compared to analysts’ expectations of $1.28 million. As a group, equities analysts forecast that Precigen, Inc. will post -0.44 EPS for the current fiscal year.

Insider Activity

In related news, SVP Jeffrey Thomas Perez purchased 58,823 shares of Precigen stock in a transaction that occurred on Friday, August 9th. The shares were bought at an average price of $0.85 per share, with a total value of $49,999.55. Following the purchase, the senior vice president now directly owns 743,097 shares of the company’s stock, valued at approximately $631,632.45. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 44.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. HC Wainwright reduced their target price on shares of Precigen from $6.00 to $4.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. StockNews.com upgraded Precigen to a “sell” rating in a research report on Thursday, August 1st. Finally, JMP Securities dropped their target price on Precigen from $14.00 to $7.00 and set a “market outperform” rating for the company in a report on Thursday, August 15th. Two analysts have rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Precigen currently has a consensus rating of “Hold” and a consensus target price of $7.00.

About Precigen

Precigen, Inc operates as a discovery and clinical-stage biopharmaceutical company that develops gene and cell therapies using precision technology to target diseases in therapeutic areas of immuno-oncology, autoimmune disorders, and infectious diseases. It operates through two segments, Biopharmaceuticals and Exemplar.