Precigen
PGEN on Nasdaq. Pharmaceutical preparations. Market value $2.8bn.
Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to December 2025.
Should I look at this?
Not a fit for our list right now
Why it could be worth it
Nothing stands out yet.
See Health care stocks that passed both tests
This is not advice. Check the numbers below.
For every $100 of what the whole company costs, it produced $-4.26 of spare cash in the past 12 months. A savings account pays about $4.
The filings do not give us enough to work this out.
The filings do not give us enough to work this out.
Quality score: 10 of 100. Price score: 0 of 100. Our list needs 70 on quality and 60 on price.
$7.55 a share, 153% above its 1-year low
Over the past year the price has ranged from $2.99 to $8.98.
Pays no dividend
Prices from Tuesday’s close (6 October).
Five years of cash, in billions
| Revenue | |||||
| Revenue | $14m | $27m | $6m | $4m | $10m |
| Operating margin | |||||
| Operating margin | n/a | n/a | -1602.5% | -3440.2% | -1141.1% |
| Debt to equity | |||||
| Debt to equity | 1.68 | 0.68 | n/a | 0.00 | 4.46 |
| Shares outstanding | |||||
| Shares outstanding | 0.21bn | 0.25bn | 0.29bn | 0.35bn | 0.36bn |
Health checks
- Free cash flow positive0 of 5 years
- Accounting checksSkipped: company is not yet profitable
- Debt4.46× equity
- Revenue growth, five yearsShrinking, 21.3% a year
- Buying back its own sharesNo, 72% more shares since 2021
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
- Sales: $55 million last quarter, up 6323% on a year ago.
- Profit: $20 million, after a loss of $27 million a year ago.
- Over the past 12 months it spent $115 million more cash than it brought in, compared with $70 million a year earlier.
- 40% more shares than a year ago. Each share owns a bit less of the company.
| Quarter to | Amount |
|---|---|
| September 2024 | -$24m |
| December 2024 | -$20m |
| March 2025 | -$54m |
| June 2025 | -$27m |
| September 2025 | -$146m |
| December 2025 | -$24m |
| March 2026 | -$8m |
| June 2026 | $20m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 25 March 2026
- Next quarterly (estimated, 10-Q)
- 3 November 2026
Who owns it
1 long-term investor we follow owns it, unchanged from 1 last quarter. 211 funds in all.
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| Patient Capital ManagementSamantha McLemore | $109m | 3.6% | Added |
Largest holders overall
- Patient Capital Management$109mAdded
- BlackRock$98mAdded
- State Street$68mAdded
- Diametric Capital, LP$53mAdded
- Vanguard Capital Management$45mAdded
- Tang Capital Management$37m
- Boxer Capital Management$29mAdded
- Geode Capital Management$29mAdded
- Iridian Asset Management$23mAdded
- Morgan Stanley$20mAdded
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
5 investors own more than 5%.
- RANDAL J. KIRKat least 35.9%−2.2 pts(filed with 2 related holders)Since 30 March 2026
What they said
Item 4 of the Original Schedule 13D is hereby amended and supplemented as follows: The information set forth in Items 3 and 6 is incorporated herein by reference. The Selling Entities sold a total of 4,772,781 shares of Common Stock in open market transactions on March 30, 2026,…
Read the filing - Patient Capital ManagementPassive investorat least 10.2%−3.4 pts(filed with 1 related holder)Since 31 December 2025
- William H. Miller III Living Trust dated April 17, 2017Passive investor9.2%Since 26 June 2025
- Ares Trading SAPassive investorat least 4.9%(filed with 3 related holders)Since 9 June 2026
- Point72 Asset Management, L.P.Passive investorat least 1.9%−3.3 pts(filed with 2 related holders)Since 31 March 2026
- SUNSET 2020 LLCSold down below 5%Since 17 September 2025
What they said
Item 4 of the Original Schedule 13D is hereby amended and supplemented as follows: The information set forth in Items 3 and 6 is incorporated herein by reference. In the Offering, the Company issued 79,000 shares of Preferred Stock of the Company to certain new and existing…
Read the filing
| Holder | Stake | Since | |
|---|---|---|---|
RANDAL J. KIRK | at least 35.9%−2.2 pts (filed with 2 related holders) | 30 March 2026 | What they saidItem 4 of the Original Schedule 13D is hereby amended and supplemented as follows: The information set forth in Items 3 and 6 is incorporated herein by reference. The Selling Entities sold a total of 4,772,781 shares of Common Stock in open market transactions on March 30, 2026,… Read the filing |
Patient Capital Management Passive investor | at least 10.2%−3.4 pts (filed with 1 related holder) | 31 December 2025 | |
William H. Miller III Living Trust dated April 17, 2017 Passive investor | 9.2% | 26 June 2025 | |
Ares Trading SA Passive investor | at least 4.9% (filed with 3 related holders) | 9 June 2026 | |
Point72 Asset Management, L.P. Passive investor | at least 1.9%−3.3 pts (filed with 2 related holders) | 31 March 2026 | |
SUNSET 2020 LLC | Sold down below 5% | 17 September 2025 | What they saidItem 4 of the Original Schedule 13D is hereby amended and supplemented as follows: The information set forth in Items 3 and 6 is incorporated herein by reference. In the Offering, the Company issued 79,000 shares of Preferred Stock of the Company to certain new and existing… Read the filing |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
In the last 12 months, 1 insider bought $24,662 of shares on the open market. 7 sold $45m, $5m of it under preset trading plans.
- KINDLER JEFFREY BDirectorSold
- Date
- 26 August 2026
- Shares
- 185,000
- Price
- $7.44
- Value
- $1m
- Shah Rutul RChief Operating OfficerSoldunder a preset trading plan
- Date
- 25 August 2026
- Shares
- 15,342
- Price
- $7.50
- Value
- $115,065
- Tennant PhilChief Commercial OfficerSoldunder a preset trading plan
- Date
- 25 August 2026
- Shares
- 79,166
- Price
- $7.50
- Value
- $593,745
- AGEE NANCY HDirectorBought
- Date
- 21 August 2026
- Shares
- 3,411
- Price
- $7.23
- Value
- $24,662
- Shah Rutul RChief Operating OfficerSoldunder a preset trading plan
- Date
- 21 August 2026
- Shares
- 34,658
- Price
- $7.50
- Value
- $259,935
- Shah Rutul RChief Operating OfficerSoldunder a preset trading plan
- Date
- 6 August 2026
- Shares
- 32,739
- Price
- $6.86
- Value
- $224,590
- Shah Rutul RChief Operating OfficerSoldunder a preset trading plan
- Date
- 3 August 2026
- Shares
- 33,772
- Price
- $6.50
- Value
- $219,518
- Thomasian Harry Jr.Chief Financial OfficerSoldunder a preset trading plan
- Date
- 31 July 2026
- Shares
- 100,000
- Price
- $6.06
- Value
- $606,000
- Thomasian Harry Jr.Chief Financial OfficerSoldunder a preset trading plan
- Date
- 1 July 2026
- Shares
- 171,429
- Price
- $5.53
- Value
- $948,002
- Thomasian Harry Jr.Chief Financial OfficerSoldunder a preset trading plan
- Date
- 29 June 2026
- Shares
- 28,571
- Price
- $5.78
- Value
- $165,140
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 26 August 2026 | KINDLER JEFFREY B Director | Sold | 185,000 | $7.44 | $1m |
| 25 August 2026 | Shah Rutul R Chief Operating Officer | Sold under a preset trading plan | 15,342 | $7.50 | $115,065 |
| 25 August 2026 | Tennant Phil Chief Commercial Officer | Sold under a preset trading plan | 79,166 | $7.50 | $593,745 |
| 21 August 2026 | AGEE NANCY H Director | Bought | 3,411 | $7.23 | $24,662 |
| 21 August 2026 | Shah Rutul R Chief Operating Officer | Sold under a preset trading plan | 34,658 | $7.50 | $259,935 |
| 6 August 2026 | Shah Rutul R Chief Operating Officer | Sold under a preset trading plan | 32,739 | $6.86 | $224,590 |
| 3 August 2026 | Shah Rutul R Chief Operating Officer | Sold under a preset trading plan | 33,772 | $6.50 | $219,518 |
| 31 July 2026 | Thomasian Harry Jr. Chief Financial Officer | Sold under a preset trading plan | 100,000 | $6.06 | $606,000 |
| 1 July 2026 | Thomasian Harry Jr. Chief Financial Officer | Sold under a preset trading plan | 171,429 | $5.53 | $948,002 |
| 29 June 2026 | Thomasian Harry Jr. Chief Financial Officer | Sold under a preset trading plan | 28,571 | $5.78 | $165,140 |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
Warning signs in its filings
Problems the company itself reported to the SEC, in its own words.
None of the warning signs we check for were found.
We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.
We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 25 Mar 2026, plus the 10-Q filed 4 Aug 2026 and 3 later 8-Ks.
A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.
What could go wrong
- It carries a lot of debt: 4.5× its equity.
- Sales have shrunk: 21.3% a year.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.