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AquaBounty - >>> Bill Miller is bullish about this Maryland biotech that makes non-browning apples


Feb 2, 2017



Holden Wilen

Baltimore Business Journal



http://www.bizjournals.com/baltimore/news/2017/02/02/bill-miller-is-bullish-about-this-maryland-biotech.html



Famed stock picker Bill Miller's latest find produces things like non-browning apples and genetically modified salmon.


Appearing on CNBC Thursday morning, Miller said he has been investing in Germantown-based Intrexon Corp.


The biotech company uses synthetic biology gene engineering to make products in the health, food, energy, consumer and environmental industries. Intrexon (NYSE: XON) recently hit a new 52-week low, and Miller sees opportunity because "it's got such a portfolio of real options it's unbelievable."

Intrexon will be releasing its "Arctic Apple" and genetically modified salmon this year, Miller said. He met with the company's billionaire CEO Randal J. Kirk last week, who told him about the Intrexon's latest invention — a genetically modified topical that can be used to painlessly remove tattoos.

"[The topical] could remove tattoos by just rubbing it off," said Miller, who is chairman and chief investment officer of Baltimore-based LMM. "It would go through the skin and into the ink and neutralize the ink."

Intrexon has made headlines because of its subsidiary, Oxitec Ltd., which develops genetically modified mosquitos to help control the spread of diseases like the Zika virus. It also acquired a company that clones kittens.

Shares of Intrexon were up 2.7 percent in midday trading Thursday at $21.05 per share.

Miller, known for beating the S&P 500 for 15 straight years as a fund manager at Legg Mason, also shared his thoughts on Apple Inc. (NASDAQ: AAPL).

Apple doesn't have a lot room for growth in terms of "moving the needle" and creating new categories, Miller said. That doesn't mean it's not a good stock to own, Miller said, noting he has a large holding in the company. He also characterized Apple's stock as "cheap" and said it could eventually have a $1 trillion market cap.

"Apple is a consumer brand with freedom to price," Miller said. "That is worth a whole lot more than 12 times earnings and of course $250 billion in cash sitting there as well."

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