Intrexon (XON) Trading Down 18.5% After Earnings Miss

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

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

Several equities analysts have recently issued reports on the stock. ValuEngine raised shares of Intrexon from a “sell” rating to a “hold” rating in a research note on Monday, September 24th. JMP Securities raised their price target on shares of Intrexon from $42.00 to $43.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 10th. Zacks Investment Research downgraded shares of Intrexon from a “buy” rating to a “hold” rating in a research note on Monday, July 16th. Stifel Nicolaus assumed coverage on shares of Intrexon in a research note on Tuesday, July 17th. They set a “buy” rating and a $72.00 price target for the company. Finally, Bank of America downgraded shares of Intrexon from a “neutral” rating to an “underperform” rating and set a $12.00 price target for the company. in a research note on Monday, July 16th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price 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 shares were sold at an average price of $14.59, for a total transaction of $1,152,610.00. Following the completion of the transaction, the senior vice president now owns 79,500 shares of the company’s stock, valued at $1,159,905. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 48.20% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Canada Pension Plan Investment Board raised its stake in Intrexon by 23.5% during the third quarter. Canada Pension Plan Investment Board now owns 474,400 shares of the biotechnology company’s stock worth $8,169,000 after buying an additional 90,400 shares during the last quarter. BlackRock Inc. raised its stake in Intrexon by 8.0% during the third quarter. BlackRock Inc. now owns 5,017,763 shares of the biotechnology company’s stock worth $86,405,000 after buying an additional 370,209 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Intrexon by 9.4% during the third quarter. Bank of New York Mellon Corp now owns 304,747 shares of the biotechnology company’s stock worth $5,247,000 after buying an additional 26,136 shares during the last quarter. Northeast Financial Consultants Inc bought a new position in Intrexon during the third quarter worth $703,000. Finally, Alliancebernstein L.P. raised its stake in Intrexon by 11.0% during the third quarter. Alliancebernstein L.P. now owns 127,050 shares of the biotechnology company’s stock worth $2,188,000 after buying an additional 12,550 shares during the last quarter. 84.92% of the stock is owned by institutional investors and hedge funds.

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Intrexon Company Profile (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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