Zacks Investment Research cut shares of Ignyta, Inc. (NASDAQ:RXDX) from a hold rating to a sell rating in a research report released on Tuesday.
According to Zacks, “Ignyta, Inc. is a biotechnology company. It develops precision medicine with integrated Rx/Dx solutions for cancer patients. The company focuses on the development of RXDX-101, its proprietary oral tyrosine kinase inhibitor that targets solid tumor indications, and advancing its novel Spark discovery programs that leverage its proprietary cancer genomic and epigenomic knowledge bases. Ignyta, Inc. is based in San Diego, California. “
RXDX has been the subject of a number of other reports. Cantor Fitzgerald set a $15.00 target price on Ignyta and gave the company a buy rating in a report on Sunday, June 4th. Jefferies Group LLC restated a buy rating and set a $27.00 target price on shares of Ignyta in a report on Thursday, June 22nd. Finally, ValuEngine upgraded Ignyta from a sell rating to a hold rating in a report on Thursday, June 15th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. The company has an average rating of Buy and an average price target of $18.00.
Shares of Ignyta (NASDAQ RXDX) opened at 10.45 on Tuesday. The company has a 50 day moving average price of $8.19 and a 200 day moving average price of $7.50. The company’s market capitalization is $437.19 million. Ignyta has a 12-month low of $4.15 and a 12-month high of $11.45.
Ignyta (NASDAQ:RXDX) last released its quarterly earnings results on Monday, May 1st. The biopharmaceutical company reported ($0.96) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.69) by $0.27. Equities analysts anticipate that Ignyta will post ($2.77) EPS for the current year.
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A number of institutional investors have recently made changes to their positions in the stock. Trexquant Investment LP purchased a new position in shares of Ignyta during the first quarter worth approximately $219,000. Renaissance Technologies LLC boosted its position in shares of Ignyta by 2.4% in the fourth quarter. Renaissance Technologies LLC now owns 92,100 shares of the biopharmaceutical company’s stock worth $488,000 after buying an additional 2,200 shares during the period. State Street Corp boosted its position in shares of Ignyta by 7.8% in the fourth quarter. State Street Corp now owns 426,861 shares of the biopharmaceutical company’s stock worth $2,264,000 after buying an additional 30,833 shares during the period. Victory Capital Management Inc. boosted its position in shares of Ignyta by 16.2% in the first quarter. Victory Capital Management Inc. now owns 2,804,834 shares of the biopharmaceutical company’s stock worth $24,122,000 after buying an additional 390,741 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in shares of Ignyta by 1.4% in the first quarter. JPMorgan Chase & Co. now owns 935,542 shares of the biopharmaceutical company’s stock worth $8,046,000 after buying an additional 12,904 shares during the period. Institutional investors own 47.79% of the company’s stock.
Ignyta, Inc is a biotechnology company. The Company is focused on precision medicine in oncology. The Company is pursuing an integrated therapeutic (Rx) and companion diagnostic (Dx) strategy for treating cancer patients. The Company’s pipeline includes various compounds, such as entrectinib, RXDX-105, taladegib and RXDX-106.
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