Precigen (NASDAQ:PGEN) reveals the pricing of an underwritten public offering

Precigen (NASDAQ:PGEN) stock identified change of 630.95% away from 52-week low price and recently located move of -17.03% off 52-week high price. It has market worth of $1.70B. PGEN stock has been recorded 12.05% away from 50 day moving average and 77.19% away from 200 day moving average. Moving closer, we can see that shares have been trading -2.61% off 20-day moving average.

On Jan. 22, 2021, Precigen (NASDAQ:PGEN) reported the pricing of an underwritten public offering of 15,000,000 shares of its common stock at a public offering price of $7.50 per share. Precigen has also granted the underwriters a 30-day option to purchase up to an additional 2,250,000 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 $112.5 million, excluding any exercise of the underwriters’ option. The offering is expected to close on January 26, 2021, subject to customary closing conditions.

Wells Fargo Securities and Stifel are acting as joint book-running managers for the offering with JMP Securities acting as lead manager and H.C. Wainwright & Co. acting as co-manager.

The Healthcare sector company, Precigen noticed change of 0.77% to $9.21 along volume of 5939440 shares in recent session compared to an average volume of 1.37M shares. The stock observed return of 6.97% in 5 days trading activity. The stock was at -7.53% over one month performance. PGEN’s shares are at 113.19% for the quarter and driving a 56.10% return over the course of the past year and is now at -9.71% since this point in 2018.

The average volatility for the week at 11.26% and for month was at 9.57%. There are 165.53M shares outstanding and 155.35M shares are floated in market. Right now the stock beta is 2.35.

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