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JP Morgan Downgrades Precigen Inc (PGEN) to an Underweight from a Neutral

Precigen Inc’s filing revealed that its SVP, IP Affairs Perez Jeffrey Thomas acquired Company’s shares for reported $50000.0 on Aug 09 ’24. In the deal valued at $0.85 per share,58,823 shares were bought. As a result of this transaction, Perez Jeffrey Thomas now holds 743,097 shares worth roughly $0.71 million.

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Then, KIRK RANDAL J bought 23,529,411 shares, generating $19,999,999 in total proceeds. Upon buying the shares at $0.85, the Director now owns 64,547,214 shares.

Before that, KIRK RANDAL J bought 96,686 shares. Precigen Inc shares valued at $136,327 were divested by the Director at a price of $1.41 per share. As a result of the transaction, KIRK RANDAL J now holds 1,096,686 shares, worth roughly $1.04 million.

JP Morgan downgraded its Precigen Inc [PGEN] rating to an Underweight from a a Neutral in a research note published recently. A number of analysts have revised their coverage, including JP Morgan’s analysts, who began to cover the stock in late May with a ‘”a Neutral”‘ rating. Cantor Fitzgerald began covering PGEN with “an Overweight” recommendation on November 18, 2022. Stifel started covering the stock on February 25, 2021. It rated PGEN as “a Buy”.

Price Performance Review of PGEN

On Friday, Precigen Inc [NASDAQ:PGEN] saw its stock jump 4.18% to $0.95. Over the last five days, the stock has gained 6.06%. Precigen Inc shares have fallen nearly -28.87% since the year began. Nevertheless, the stocks have fallen -17.48% over the past one year. While a 52-week high of $1.93 was reached on 07/16/24, a 52-week low of $0.82 was recorded on 10/10/24. SMA at 50 days reached $1.0030, while 200 days put it at $1.3481.

Levels Of Support And Resistance For PGEN Stock

The 24-hour chart illustrates a support level at 0.9121, which if violated will result in even more drops to 0.8712. On the upside, there is a resistance level at 0.9820. A further resistance level may holdings at 1.0110. The Relative Strength Index (RSI) on the 14-day chart is 50.90, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.0273, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 17.23%. Stochastics %K at 64.74% indicates the stock is a holding.

How much short interest is there in Precigen Inc?

A steep rise in short interest was recorded in Precigen Inc stocks on 2024-09-30, growing by 2.66 million shares to a total of 15.7 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-30 was 13.03 million shares. There was a rise of 16.96%, which implies that there is a positive sentiment for the stock.

The most recent change occurred on February 22, 2021 when Wells Fargo began covering the stock and recommended ‘”an Overweight”‘ rating along with a $14 price target.

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