Precigen is trading at $4.18, down 17.21%, after management did not provide specific Q4 revenue guidance.
- Q3 revenue was $74.1 million, including $72.9 million from PAPZIMEOS; cash flow was positive a quarter ahead of guidance.
- Citizens raised its price target to $12 and maintained its Market Outperform rating.
- Coverage noted shares fell despite the results. The biotech sector rose 2.05%, so sector strength does not explain Precigen’s decline.