Intrexon Corporation (NASDAQ:XON) stock recently located move of -61.21% off 52-week high price and identified change of -5.15% away from 52-week low price. XON stock has been recorded -33.45% away from 50 day moving average and -47.50% away from 200 day moving average. Moving closer, we can see that shares have been trading -17.36% off 20-day moving average. It has market worth of $1118.42M.
Intrexon Corporation (NASDAQ:XON), a leader in the engineering and industrialization of biology to improve the quality of life and health of the planet, and AquaBounty Technologies, Inc. (NASDAQ: AQB), a biotechnology company focused on enhancing productivity in the aquaculture market and a majority-owned subsidiary of Intrexon, reported that their jointly developed gene edited line of tilapia, FLT 01, is exempt from GM regulation according to Argentina’s National Advisory Commission on Agricultural Biotechnology (CONABIA). This line of tilapia enables more sustainable production through improvements in fillet yield, growth and feed conversion efficiency, enabling the tilapia to grow to market weight in less time, while also consuming less feed than conventional varieties.
The engineered tilapia were developed using gene editing techniques and do not contain any foreign DNA or a new combination of genetic material that would warrant their regulation as genetically modified in Argentina. FLT 01 is believed to be one of the first gene edited food animals to receive a regulatory exemption due to its designation as a non-GMO. As the companies look to move this product toward commercialization, standard food and environmental safety considerations will still apply to this product prior to introduction.
LTG (Ret.) Thomas Bostick, PhD, PE, Chief Operating Officer of Intrexon said “We are focused on developing animal biotechnology for aquaculture and livestock through our subsidiaries to support sustainable food production in the U.S. and abroad”. “We are pleased with Argentina’s leadership in establishing a transparent and predictable process for the advancement of products developed with gene editing techniques and see this as a critical development for companies seeking to bring highly innovative solutions to the global market using powerful and highly precise genetic tools. Moreover, enhancing regulatory certainty for products derived from biotechnology is critical to the future of agricultural innovation.”
Ronald Stotish, PhD, Chief Executive Officer of AquaBounty said “AquaBounty is committed to advancing novel technologies into the marketplace to improve sustainability in aquaculture and through our productive collaboration with Intrexon have been able to make significant progress toward this goal”. “We look forward to continuing our work with the Intrexon team and realizing the potential of biological engineering approaches to enhancing aquaculture productivity.”
The Technology sector company, Intrexon Corporation noticed change of -5.67% to $7.82 along volume of 1469901 shares in recent session compared to an average volume of 1780.86K. The stock observed return of -10.83% in 5 days trading activity. The stock was at -20.12% over one month performance. XON’s shares are at -44.02% for the quarter and driving a -36.63% return over the course of the past year and is now at -32.12% since this point in 2018.
The average volatility for the week at 6.16% and for month was at 6.76%. There are 143.02M shares outstanding and 136.51M shares are floated in market. Right now the stock beta is 1.54.
Category - Business
After many years in the market, Charles Frey dedicated all his time to write articles highlighting different financial problems. He has worked as financial analyst until his retirement. He is a well-known research director and portfolio manager for more than 5 years.
Charles holds a postgraduate degree in Software Engineering. ‘The stock market is filled with individuals who know the price of everything, but the value of nothing.’ Charles is a share market expert, being personally invested for over 6 years. He has been writing his entire life, and while he has made a career of business and finance reporting, he still enjoys writing short stories and poetry.
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