Why Intrexon Corporation Stock Got Crushed Today
Shares of the synthetic-biology company Intrexon Corporation (NYSE: XON) lost over a quarter of their value today -- down 25.63% -- on nearly nine times the average daily volume. The culprit? An extremely disappointing third-quarter earnings release that featured a hefty 16.3% miss on revenue compared to the Street's consensus estimate for the three-month period -- $46 million vs. $55 million.
Intrexon attributed this noteworthy miss to a decline in collaboration, licensing, and product revenues during the quarter relative to the same period a year ago.
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Source: Fool.com