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Intrexon CEO Made Big Open-Market Bets In May

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Intrexon CEO Made Big Open-Market Bets In May

Biotechnology company Intrexon Corp (NASDAQ: XON) CEO Randal Kirk made five bundles of large purchases of the company's stock over the month of May.

Recent trades listed below, courtesy of GuruFocus:

  • Kirk bought 330,180 shares of XON on May 30 at the average price of $4.75.
  • Kirk bought 495,271 shares of XON on May 30 at the average price of $4.75.
  • Kirk bought 273,367 shares of XON on May 24 at the average price of $4.69.
  • Kirk bought 410,050 shares of XON on May 24 at the average price of $4.69.
  • Kirk bought 422,423 shares of XON on May 21 at the average price of $4.65.

An executive buying shares could be a sign indicating Kirk has a strong conviction in the company, despite the stock trading at a loftier level. In contrast, when a stock hits a low point, an executive will consider unloading shares. Earlier this month, Overstock.com Inc (NASDAQ: OSTK) took a dive after CEO Patrick Byrne sold 500,000 shares.

Intrexon's stock traded around $4.83 per share at time of publication Friday. Shares are up about 16 percent over the month.

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