Germantown, Maryland-based Intrexon Corporation (NYSE:XON) stock was recently upgraded by EVA Dimensions last week but that doesn’t explain yesterdays price surge of more than 10 percent for the company.
Intrexon was the third most price-trending stock on Google Finance yesterday, the stock price of the company increased more than 11.46 percent (+ $3.14) to close at $30.55 per share.
A few reasons that could have driven Intrexon’s stock price higher,
· On March 7, 2014, Intrexon reported its completed purchase of San Diego-based Medistem (OTCQB: MEDS) for its universal donor adult-derived stem cells developments which are suited for therapeutic use with Intrexon’s own synthetic biology technologies.
· On March 10, 2014, Intrexon entered a collaborative agreement with Amneal Pharmaceuticals to develop an improved production process for a complex active pharmaceutical ingredient (API).
· On March 11, 2014, the company was issued a patent from The United States Patent and Trade Mark Office for the “Novel Substitution Mutant Receptors and Their Use in a Nuclear Receptor-Based Inducible Gene Expression System” on. The patent was filed back in August 2007.
· On March 12, 2014, Intrexon presented at the Barclays Global Healthcare Conference in Miami, Florida.