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Intrexon Corporation was a biotechnology company that started in 1998. It changed its name to Precigen in 2020, because it wanted to focus on human gene therapy. Human gene therapy is a way of using gene editing to treat diseases. Gene editing is a method that can modify the DNA of living cells to change their functions.
Intrexon Corporation is a biotechnology company that specializes in synthetic biology, which involves using engineered genetic materials to develop new and innovative products. The company is headquartered in Maryland, USA, and was founded in 1998.
Intrexon has developed a unique platform technology called the UltraVector® platform, which allows scientists to design and synthesize DNA sequences with high precision and control. This technology has wide-ranging applications, from developing new therapies for genetic diseases to creating more sustainable food and energy sources.
One of the key areas where Intrexon is active is in the development of genetically engineered organisms for use in agriculture. The company has developed a number of genetically modified crops that are more resistant to pests and diseases, as well as crops that can be grown more efficiently and sustainably.
In addition to its work in agriculture, Intrexon is also involved in the development of new therapies for a range of diseases, including cancer and genetic disorders. The company’s proprietary technology allows scientists to design and synthesize complex genetic sequences that can be used to create new drugs and therapies.
Intrexon Corporation is a leader in the field of synthetic biology and is working to develop innovative solutions to some of the world’s most pressing problems, including food security, energy sustainability, and disease.
Table of Contents
- Intrexon Corporation Stock Forecast in 2023
- Intrexon Corporation Stock in 2022
- Intrexon Corporation Stock in 2021
- Intrexon Corporation Stock in 2020
- Intrexon Corporation Stock in 2019
- Intrexon Corporation Stock in 2018
- Intrexon Corporation Stock 2017
- Why this stock cannot be bought and what to do instead
Intrexon Corporation Stock Forecast in 2023
Intrexon Corporation (XON), now known as Precigen, Inc. (PGEN), has been on a downtrend for the past 5 years, with an all-time high of $64.62 on July 31, 2015. PGEN has shown no sign of reversal since 2015 and is currently trading at $1.16 (as of this writing). This is -95.82% since its ATH and -42.57% in the past year.
We forecast that later in the year 2023, the PGEN stock price per share will experience a relief bounce to around $1.5 per share before heading below $1. This biotechnology company’s stock is a good one to hold for investors who strongly believe in the fundamentals of the project and are willing to hold it long-term. Risk management cannot be overemphasized, as this stock is high-risk.
Intrexon Corporation Stock in 2022
The share price of Intrexon Corporation (PGEN) increased in the 3rd quarter of 2022 because the company announced an increase in revenue. This revenue was from licensing and collaborations, and it quickly increased their stock price. On the 21st of September, there was a huge sell-off that forced the stock price down.
Precigen, Inc., previously known as Intrexon Corporation, has been performing poorly for the past several years. With more and more investors losing faith in the project, the stock price declines every year
Intrexon Corporation Stock in 2021
In 2021, after Intrexon Corporation released its financial statement, investors were not impressed by the company’s financial performance. This triggered a big sell-off from investors, which spiraled through the year.
On the 4th of January, PGEN was trading at $11 per share. The company concluded the year trading at $3.67 per share. This is a 66.88% drop in the year 2021.
Intrexon Corporation Stock in 2020
2020 was the year Intrexon changed its name from Intrexon Corporation to Precigen, Inc., (PGEN). PGEN started the year losing over 70% of its value and recovered during the course of the year.
The recent increase in the value of Precigen’s stock was due to the announcement that Merck KGaA, a German pharmaceutical company, is investing more money in the biopharmaceutical company. Merck KGaA already owned 11.6% of Precigen’s shares, and they will now own 14.8% because one of their subsidiaries, Ares Trading, is converting a loan into Precigen’s stock.
This is a positive sign for Precigen because it shows that Merck KGaA has confidence in its clinical program. Precigen’s lead candidate, AG09, is currently being tested in a phase 2 clinical study as a potential treatment for type 1 diabetes. In addition to this, Precigen has four early-stage prospectives, two of which are CAR-T programs. CAR-T is a new form of immunotherapy that uses modified cells to target cancer cells. Precigen’s CAR-T programs are specifically designed to target acute myeloid leukemia, ovarian cancer, and myelodysplastic syndrome (MDS).
Merck KGaA is particularly interested in Precigen’s CAR-T programs, and they gave development rights in 2018 for them to Precigen. With Merck KGaA’s increased investment, Precigen is well-positioned to continue developing its promising clinical program and potential treatments.
Intrexon Corporation Stock in 2019
On the 28th of February and 1st of March, XON fell significantly from around $8 to $4. Intrexon released its fiscal Q4 results, which were disappointing for investors. The report showed that sales decreased by 44%, leading to an adjusted net loss for that period. Furthermore, noncash expenses of over $300 million resulted in even higher reported losses.
The biggest concern for investors was the company’s warning that it might not have enough cash flow to support its business in the coming year. At the end of 2018, the company had only $224 million in cash on hand, while sales and administrative expenses totaled $140 million in the previous year. This raised doubts about Intrexon’s ability to continue operating and developing new products.
These results were not what investors were hoping for, and the company will need to address its financial situation to maintain confidence in its ability to grow and succeed in the future.
Intrexon Corporation Stock in 2018
XON fell by more than 80% in 2018, and this was why. While it’s not completely unheard of, delays in filing quarterly financial reports don’t happen frequently, and they often don’t sit well with investors. Unfortunately, this was not the only bad news for XON.
The company also provided unaudited results for the second quarter, which were disappointing. Intrexon reported revenue of $45.3 million for Q2, falling short of Wall Street’s presumptiom of $51.7 million. Additionally, the biotech is projecting a net loss of $0.51 per share for the quarter, much worse than analysts’ estimated net loss of $0.25 per share.
To make matters worse, Intrexon discovered errors in its first-quarter report. Intrexon believes that in the first quarter, it inflated deferred revenue and the cumulative loss by almost $67 million, as well as overstating revenue by about $4 million. This means that Q1 earnings were negatively affected. These mistakes further eroded investor confidence in the company’s financial team and overall performance.
Intrexon’s disappointing results in the second quarter and accounting errors from the first quarter are not the kind of news that inspires confidence in investors.
Intrexon Corporation Stock 2017
In 2017, Intrexon Corporation lost over 60% of its stock’s value. Here is why Intrexon has a history of falling short of quarterly earnings expectations. Earlier this year, the company released a lackluster second-quarter earnings report, which caused a significant drop in its stock price. This pattern of disappointing results has become a concern for investors.
Why this stock cannot be bought and what to do instead
On January 27, 2023, Precigen Inc. (PGEN), formally known as Intrexon Corporation (XON), announced that it will be closing down its underwritten offering of common stock to the public. This announcement implies that the public will no longer be able to buy their stock, and it will be delisted from stock exchanges.
If you were looking to add PGEN to your portfolio, you could research other alternatives to invest in or invest in a totally different industry. There is lots of stock available to the public for purchase, and there will always be better opportunities. As an investor, be sure to do your own research and allocate the risk that is best suited to you.
Have there been any positive developments that have affected Intrexon’s stock price
Yes, strategic partnerships and successful clinical trials have provided some boosts to the stock price.
Is there a pattern of disappointing results from Intrexon ?
Yes, the company has a history of falling short of quarterly earnings expectations.
What will affect Intrexon’s stock price in the future ?
The company’s performance and its ability to address its financial issues and deliver on its promising pipeline of products will be the primary factors affecting its stock price in the future.
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