Precigen shares surge 31.35% intraday as Citizens and HC Wainwright raise price targets amid PAPZIMEOS therapy launch progress and strong cash reserves.

Precigen (NASDAQ:PGEN) surged 31.35% intraday following multiple positive catalysts. The stock’s rally aligns with Citizens’ reiteration of an $8 price target, highlighting strong liquidity ($124 million cash) and early adoption momentum for its PAPZIMEOS therapy, which is now scheduling patients. Additionally, HC Wainwright & Co. raised its price target to $9, maintaining a 'Buy' rating, signaling renewed analyst confidence. Precigen’s Q3 results further fueled optimism, with revenue soaring to $2.92 million (well above expectations) despite a widened net loss, as investors focused on growth potential over short-term profitability. The therapy’s perceived future adoption and cash runway until 2026 breakeven likely amplified demand, driving the sharp intraday increase.