Intrexon Corporation (NYSE: XON)
Intrexon Corporation (XON), a biotechnology company announced on Tuesday that ViaGen Pets, a subsidiary of the company had successfully cloned a litter of kittens for its clients. ViaGen Pets provides cloning services for its clients.
ViaGen Pets President’s Comments
“I couldn’t be more pleased with the birth of these adorable kittens,” noted Blake Russell, President of ViaGen Pets. “As the largest global provider of genetic preservation services for companion animals, we look forward to expanding the life-enriching connections that people form with their pets. Our goal is to bring this opportunity to all pet owners and their families.” PR Newswire
XON Technical Analysis
XON gapped up in price yesterday to $34.30, up from the prior day’s close of $32.05 which is a 7% increase in price based on favorable news. Taking a look at the daily chart, we can see the last time the stock traded above this price level was on October 12th when the stock closed at $36.25. Taking a further look the back on the chart we can see the stock has been on a steep downward trend dating back to August 6th when it was trading at its 52 week high of $69.45. Only a few trading days later, on August 11th, the stock tanked all the way down to $46.50, or equivalent to a 33% drop in price. That was not the only big recent drop. On September 18th, the stock was trading at highs of $50.46 only to fall all the way down to $29.00 on September 29th, or equivalent to a 43% drop in price. As we can see, the stock has been in a freefall the past couple of months of trading, leaving us with some room to rebound with this spike up. The stock does have a relatively low float of 28.97 million shares and a high short float of 30.09%. The stock traded on 1.25 times the normal daily trading volume. All of these factors make the stock a candidate for the gap and go strategy. The stock did reach pre market highs of $34.80 but gave back $0.50 at the open equivalent to only 1%. For trading purposes, my entry point would have been $34.40 with a possible add on at the pre market high of $34.80, looking for a run to $35.00. My stop loss would have been $34.20 fearing anything below that and the stock would start to fill in the gap up.
Company Profile
Intrexon Corporation, a biotechnology company, 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; mAbLogix; and laser-enabled analysis and processing. Intrexon Corporation has collaboration agreements with ZIOPHARM Oncology, Inc.; Synthetic Biologics, Inc.; Oragenics, Inc.; Fibrocell Science, Inc.; Genopaver, LLC; AquaBounty Technologies, Inc.; S & I Ophthalmic, LLC; Biological & Popular Culture, Inc.; OvaXon, LLC; Intrexon Energy Partners, LLC; and Persea Bio, LLC; and strategic collaboration and licensing agreement with Merck Serono S.A. The company was formerly known as Genomatix Ltd. and changed its name to Intrexon Corporation in 2005. Intrexon Corporation was founded in 1998 and is based in Germantown, Maryland. Yahoo Finance
