HC Wainwright Issues Negative Forecast for Precigen Earnings

Precigen, Inc. (NASDAQ:PGEN) – Research analysts at HC Wainwright dropped their FY2027 EPS estimates for shares of Precigen in a research report issued on Thursday, March 20th. HC Wainwright analyst S. Ramakanth now expects that the biotechnology company will earn $0.18 per share for the year, down from their previous forecast of $0.20. HC Wainwright has a “Buy” rating and a $6.00 price objective on the stock. The consensus estimate for Precigen’s current full-year earnings is ($0.32) per share. HC Wainwright also issued estimates for Precigen’s FY2028 earnings at $0.40 EPS and FY2029 earnings at $0.66 EPS.

Precigen (NASDAQ:PGEN) last issued its earnings results on Wednesday, March 19th. The biotechnology company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.02. The company had revenue of $1.19 million for the quarter, compared to analysts’ expectations of $1.30 million. Precigen had a negative net margin of 3,521.68% and a negative return on equity of 123.06%.

Separately, JMP Securities reissued a “market outperform” rating and set a $5.00 price target on shares of Precigen in a research report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $7.00.

Precigen Stock Performance

PGEN stock opened at $1.81 on Friday. The firm has a market cap of $532.22 million, a price-to-earnings ratio of -3.29 and a beta of 1.58. The firm has a 50-day simple moving average of $1.61 and a two-hundred day simple moving average of $1.15. Precigen has a one year low of $0.65 and a one year high of $2.17.

Hedge Funds Weigh In On Precigen

Several hedge funds and other institutional investors have recently modified their holdings of PGEN. Iridian Asset Management LLC CT raised its position in shares of Precigen by 38.8% in the 4th quarter. Iridian Asset Management LLC CT now owns 5,241,922 shares of the biotechnology company’s stock valued at $5,871,000 after purchasing an additional 1,465,962 shares during the last quarter. LexAurum Advisors LLC raised its position in shares of Precigen by 151.9% in the 4th quarter. LexAurum Advisors LLC now owns 691,544 shares of the biotechnology company’s stock valued at $775,000 after purchasing an additional 417,055 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Precigen by 4.8% in the 3rd quarter. Geode Capital Management LLC now owns 3,246,508 shares of the biotechnology company’s stock valued at $3,075,000 after purchasing an additional 149,829 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Precigen by 11.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,222,850 shares of the biotechnology company’s stock valued at $1,158,000 after purchasing an additional 127,467 shares during the last quarter. Finally, HighTower Advisors LLC raised its position in shares of Precigen by 186.8% in the 3rd quarter. HighTower Advisors LLC now owns 192,144 shares of the biotechnology company’s stock valued at $179,000 after purchasing an additional 125,145 shares during the last quarter. 33.51% of the stock is owned by hedge funds and other institutional investors.

Precigen Company Profile

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.