FY2024 EPS Estimates for Precigen Increased by HC Wainwright

Precigen, Inc. (NASDAQ:PGEN) – Stock analysts at HC Wainwright lifted their FY2024 earnings estimates for Precigen in a research report issued to clients and investors on Thursday, January 23rd. HC Wainwright analyst S. Ramakanth now anticipates that the biotechnology company will earn ($0.30) per share for the year, up from their prior estimate of ($0.33). HC Wainwright currently has a “Buy” rating and a $6.00 target price on the stock. The consensus estimate for Precigen’s current full-year earnings is ($0.33) per share. HC Wainwright also issued estimates for Precigen’s Q4 2024 earnings at ($0.04) EPS, Q1 2025 earnings at ($0.04) EPS and FY2025 earnings at ($0.19) EPS.

Separately, JMP Securities reissued a “market outperform” rating and issued a $5.00 target price on shares of Precigen in a research note on Tuesday, January 14th. Two analysts have rated the stock with a sell rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $7.00.

Precigen Price Performance

Shares of Precigen stock opened at $1.30 on Monday. The company’s fifty day moving average price is $0.95 and its two-hundred day moving average price is $1.05. The firm has a market capitalization of $380.73 million, a PE ratio of -2.36 and a beta of 1.65. Precigen has a 52-week low of $0.65 and a 52-week high of $1.93.

Institutional Investors Weigh In On Precigen

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC grew its holdings in shares of Precigen by 12.4% during the second quarter. Renaissance Technologies LLC now owns 1,182,690 shares of the biotechnology company’s stock worth $1,869,000 after purchasing an additional 130,500 shares during the last quarter. AQR Capital Management LLC grew its holdings in Precigen by 56.7% during the 2nd quarter. AQR Capital Management LLC now owns 50,002 shares of the biotechnology company’s stock worth $79,000 after acquiring an additional 18,097 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in Precigen by 40.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 56,998 shares of the biotechnology company’s stock worth $90,000 after acquiring an additional 16,486 shares during the last quarter. SG Americas Securities LLC increased its position in Precigen by 44.2% in the 3rd quarter. SG Americas Securities LLC now owns 45,063 shares of the biotechnology company’s stock valued at $43,000 after acquiring an additional 13,823 shares in the last quarter. Finally, Exchange Traded Concepts LLC raised its stake in shares of Precigen by 10.2% in the third quarter. Exchange Traded Concepts LLC now owns 167,496 shares of the biotechnology company’s stock worth $159,000 after acquiring an additional 15,525 shares during the last quarter. 33.51% of the stock is owned by institutional investors and hedge funds.

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.