Precigen Inc (PGEN) released its first quarter results on Monday, May 10, 2021. The company reported net earnings of $-0.09 per share for the first quarter ending March 31, 2021. Earnings for this past quarter were up 75 percent compared to the same period a year ago.
Precigen, Inc. was founded in 1998 and is based in Germantown, Maryland. Precigen, Inc. discovers and develops the next generation of gene and cellular therapies in the United States. It also provides disease-modifying therapeutics; genetically engineered swine for regenerative medicine applications; proprietary methane bioconversion platform that turns natural gas into energy and chemical products; and reproductive and embryo transfer technologies.
Precigen's revenue decreased 8 percent over the past trailing twelve-month period versus the previous twelve-month period. Gross margins decreased to 61.43% for the first quarter compared to the same period in the previous year, and operating margins increased to 72.16% over the same period. Net earnings for past trailing twelve months were $-95.67 million, up 51% from the prior year.
Moving on to the balance sheet, Precigen's cash levels dropped 28% for the first quarter over the same period last year. Overall liquidity of the balance sheet, as measured by the current ratio, increased 112.95% this past year. The current ratio for Precigen now stands at 5.71. The company increased shares outstanding by 20.95%.
Shares of PGEN are currently trading around $6.81. In terms of valuation, the stock is trading at a price to book ratio of 7.54.