Intrexon (XON) Trading Down 18.5% on Disappointing Earnings

Shares of Intrexon Corp (NYSE:XON) were down 18.5% on Friday following a weaker than expected earnings announcement. The stock traded as low as $10.37 and last traded at $10.77. Approximately 2,685,397 shares were traded during trading, an increase of 72% from the average daily volume of 1,557,050 shares. The stock had previously closed at $13.22.

The biotechnology company reported ($0.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.21). The business had revenue of $32.45 million during the quarter, compared to analyst estimates of $35.98 million. The company’s quarterly revenue was down 29.5% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.33) earnings per share.

Several analysts have issued reports on XON shares. ValuEngine raised Intrexon from a “strong sell” rating to a “sell” rating in a research report on Monday, August 20th. Zacks Investment Research raised Intrexon from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a research report on Thursday, August 16th. Bank of America cut Intrexon from a “neutral” rating to an “underperform” rating and set a $12.00 target price on the stock. in a research report on Monday, July 16th. Stifel Nicolaus started coverage on Intrexon in a research report on Tuesday, July 17th. They set a “buy” rating and a $72.00 target price on the stock. Finally, JMP Securities increased their target price on Intrexon from $42.00 to $43.00 and gave the company a “market outperform” rating in a research report on Wednesday, October 10th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $29.67.

In other news, SVP Joel D. Liffman sold 79,000 shares of the firm’s stock in a transaction on Monday, October 15th. The stock was sold at an average price of $14.59, for a total value of $1,152,610.00. Following the completion of the sale, the senior vice president now owns 79,500 shares of the company’s stock, valued at approximately $1,159,905. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 48.20% of the stock is owned by company insiders.

Several institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC purchased a new position in Intrexon in the 3rd quarter worth $131,000. BB&T Securities LLC purchased a new position in Intrexon in the 2nd quarter worth $175,000. Chessman Wealth Strategies RIA purchased a new position in Intrexon in the 2nd quarter worth $205,000. John G Ullman & Associates Inc. purchased a new position in Intrexon in the 3rd quarter worth $258,000. Finally, Royal Bank of Canada raised its stake in Intrexon by 47.8% in the 1st quarter. Royal Bank of Canada now owns 22,021 shares of the biotechnology company’s stock worth $339,000 after acquiring an additional 7,117 shares during the last quarter. 84.92% of the stock is owned by hedge funds and other institutional investors.

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About Intrexon (NYSE:XON)

Intrexon Corporation operates in the synthetic biology field in the United States. The company, through a suite of proprietary and complementary technologies, designs, builds, and regulates gene programs, which are DNA sequences that consist of key genetic components. Its technologies include UltraVector gene design and fabrication platform, and its associated library of modular DNA components; Cell Systems Informatics; RheoSwitch inducible gene switch; AttSite Recombinases; Protein Engineering; Laser-Enabled Analysis and Processing; and ActoBiotics and AdenoVerse technology platforms.

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