Intrexon (XON) Stock Price Up 6.3% After Insider Buying Activity
Intrexon Corp (NYSE:XON) rose 6.3% during mid-day trading on Wednesday following insider buying activity. The company traded as high as $4.73 and last traded at $4.73. Approximately 2,716,579 shares were traded during trading, an increase of 12% from the average daily volume of 2,435,780 shares. The stock had previously closed at $4.45.
Specifically, insider Thomas D. Reed sold 225,500 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $4.18, for a total transaction of $942,590.00. Following the transaction, the insider now owns 96,280 shares in the company, valued at approximately $402,450.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Randal J. Kirk sold 41,678 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $0.67, for a total transaction of $27,924.26. The disclosure for this sale can be found here. In the last quarter, insiders have sold 362,419 shares of company stock worth $1,032,421. 48.20% of the stock is owned by corporate insiders.
XON has been the topic of several research reports. JMP Securities reiterated a “buy” rating and set a $43.00 price target on shares of Intrexon in a research report on Wednesday, March 6th. Northland Securities cut Intrexon from an “outperform” rating to a “market perform” rating in a report on Friday, March 1st. Finally, Zacks Investment Research raised Intrexon from a “hold” rating to a “buy” rating and set a $8.75 price objective for the company in a report on Saturday, January 19th. One equities research analyst has rated the stock with a sell rating, two have issued 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 price target of $28.60.
A number of large investors have recently made changes to their positions in the business. Ladenburg Thalmann Financial Services Inc. raised its holdings in Intrexon by 16.7% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 78,790 shares of the biotechnology company’s stock worth $415,000 after purchasing an additional 11,255 shares during the last quarter. Geode Capital Management LLC raised its holdings in Intrexon by 8.8% during the 1st quarter. Geode Capital Management LLC now owns 895,779 shares of the biotechnology company’s stock worth $4,711,000 after purchasing an additional 72,631 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Intrexon by 4.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 411,662 shares of the biotechnology company’s stock worth $2,166,000 after purchasing an additional 16,297 shares during the last quarter. GMT Capital Corp bought a new stake in Intrexon during the 1st quarter worth about $3,548,000. Finally, The Manufacturers Life Insurance Company raised its holdings in Intrexon by 12.6% during the 1st quarter. The Manufacturers Life Insurance Company now owns 51,381 shares of the biotechnology company’s stock worth $270,000 after purchasing an additional 5,767 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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