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Wells Fargo Thinks Precigen’s Stock is Going to Recover

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In a report issued on January 18, Nick Abbott from Wells Fargo reiterated a Buy rating on Precigen (PGENResearch Report), with a price target of $17.00. The company’s shares closed last Wednesday at $3.00, close to its 52-week low of $2.99.

According to TipRanks.com, Abbott ‘s ranking currently consits of 0 on a 0-5 ranking scale, with an average return of -42.7% and a 0.0% success rate. Abbott covers the Healthcare sector, focusing on stocks such as Iovance Biotherapeutics, Cellectis SA, and MEI Pharma.

Precigen has an analyst consensus of Strong Buy, with a price target consensus of $13.33, which is a 331.4% upside from current levels. In a report issued on January 13, JMP Securities also reiterated a Buy rating on the stock with a $13.00 price target.

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The company has a one-year high of $9.89 and a one-year low of $2.99. Currently, Precigen has an average volume of 1.4M.

Based on the recent corporate insider activity of 66 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of PGEN in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Precigen, Inc. is a biotechnology company, which engages in the research and development of synthetic biology technologies. It focuses on programming biological systems to alleviate disease, remediate environmental challenges, and provide sustainable food and industrial chemicals. The product pipeline includes Isobutanol, Isobutyraldehyde, Farnesene, and Isoprene. The company was founded by Thomas David Reed in 1998 and is headquartered in Germantown, MD.

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