Precigen Inc. [PGEN] moved down -24.66: Why It’s Important

Precigen Inc. [NASDAQ: PGEN] closed the trading session at $1.65 on 01/25/23. The day’s price range saw the stock hit a low of $1.52, while the highest price level was $1.73. The company report on January 24, 2023 that Precigen Announces Pricing of $75.0 Million Public Offering of Common Stock.

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Precigen, Inc. (Nasdaq: PGEN) today announced the pricing of an underwritten public offering of 42,857,143 shares of its common stock at a public offering price of $1.75 per share. Precigen has also granted the underwriters a 30-day option to purchase up to an additional 6,428,571 shares of its common stock. Gross proceeds from the offering, before deducting underwriting discounts and commissions and estimated offering expenses, are expected to be approximately $75.0 million, excluding any exercise of the underwriters’ option. The offering is expected to close on January 27, 2023, subject to customary closing conditions.

J.P. Morgan Securities LLC is acting as the lead book-running manager for the offering. Cantor Fitzgerald & Co. is also acting as book-running manager. JMP Securities, a Citizens Company, is acting as lead manager and H.C. Wainwright & Co., LLC is acting as co-manager.

The stocks have a year to date performance of 8.55 percent and weekly performance of -21.80 percent. The stock has been moved at -8.33 percent over the last six months. The stock has performed 16.20 percent around the most recent 30 days and changed -3.51 percent over the most recent 3-months.

If compared to the average trading volume of 808.18K shares, PGEN reached to a volume of 14908102 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Precigen Inc. [PGEN]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PGEN shares is $7.80 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PGEN stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Cantor Fitzgerald have made an estimate for Precigen Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on November 18, 2022. While these analysts kept the previous recommendation, Stifel raised their target price to Buy. The new note on the price target was released on February 25, 2021, representing the official price target for Precigen Inc. stock. Previously, the target price had yet another raise to $14, while Wells Fargo analysts kept a Overweight rating on PGEN stock.

The Average True Range (ATR) for Precigen Inc. is set at 0.19, with the Price to Sales ratio for PGEN stock in the period of the last 12 months amounting to 6.74. The Price to Book ratio for the last quarter was 2.32, with the Price to Cash per share for the same quarter was set at 0.35.

PGEN stock trade performance evaluation

Precigen Inc. [PGEN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -21.80. With this latest performance, PGEN shares gained by 16.20% in over the last four-week period, additionally sinking by -8.33% over the last 6 months – not to mention a drop of -41.07% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PGEN stock in for the last two-week period is set at 45.71, with the RSI for the last a single of trading hit 41.54, and the three-weeks RSI is set at 47.27 for Precigen Inc. [PGEN]. The present Moving Average for the last 50 days of trading for this stock 1.72, while it was recorded at 1.99 for the last single week of trading, and 1.76 for the last 200 days.

Precigen Inc. [PGEN]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Precigen Inc. [PGEN] shares currently have an operating margin of -75.84 and a Gross Margin at +43.79. Precigen Inc.’s Net Margin is presently recorded at -93.16.

Return on Equity for this stock declined to -110.89, with Return on Assets sitting at -28.08.

Precigen Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.60 and a Current Ratio set at 1.60.

Earnings per share (EPS) analysis for Precigen Inc. [PGEN] stock

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PGEN. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Precigen Inc. go to 2.40%.

Precigen Inc. [PGEN]: Insider Ownership positions

There are presently around $206 million, or 60.50% of PGEN stock, in the hands of institutional investors. The top three institutional holders of PGEN stocks are: THIRD SECURITY, LLC with ownership of 83,465,566, which is approximately 0% of the company’s market cap and around 0.20% of the total institutional ownership; BLACKROCK INC., holding 7,835,549 shares of the stock with an approximate value of $12.93 million in PGEN stocks shares; and VANGUARD GROUP INC, currently with $8.39 million in PGEN stock with ownership of nearly -0.256% of the company’s market capitalization.

Positions in Precigen Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 68 institutional holders increased their position in Precigen Inc. [NASDAQ:PGEN] by around 3,231,038 shares. Additionally, 79 investors decreased positions by around 14,167,349 shares, while 41 investors held positions by with 107,336,127 shares. The mentioned changes placed institutional holdings at 124,734,514 shares, according to the latest SEC report filing. PGEN stock had 24 new institutional investments in for a total of 1,371,776 shares, while 24 institutional investors sold positions of 6,419,548 shares during the same period.


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