Ignyta, Inc. (NASDAQ:RXDX) shares shot up 0.2% during mid-day trading on Tuesday . The company traded as high as $12.40 and last traded at $12.23. 351,651 shares changed hands during mid-day trading, a decline of 64% from the average session volume of 966,205 shares. The stock had previously closed at $12.25.
A number of research firms have recently issued reports on RXDX. Zacks Investment Research upgraded shares of Ignyta from a “sell” rating to a “hold” rating in a research note on Tuesday, May 30th. BidaskClub cut shares of Ignyta from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Cantor Fitzgerald set a $15.00 target price on shares of Ignyta and gave the company a “buy” rating in a research note on Monday, July 10th. ValuEngine upgraded shares of Ignyta from a “sell” rating to a “hold” rating in a research note on Thursday, June 15th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $27.00 target price on shares of Ignyta in a research note on Thursday, June 22nd. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Ignyta presently has an average rating of “Hold” and a consensus price target of $17.33.
The firm has a 50-day moving average of $10.12 and a 200-day moving average of $8.94. The company’s market capitalization is $690.51 million.
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Ignyta (NASDAQ:RXDX) last posted its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.56) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.63) by $0.07. On average, equities analysts expect that Ignyta, Inc. will post ($2.57) earnings per share for the current fiscal year.
A number of large investors have recently modified their holdings of RXDX. Cutter & CO Brokerage Inc. bought a new position in Ignyta in the 2nd quarter valued at approximately $122,000. Numeric Investors LLC bought a new position in Ignyta in the 2nd quarter valued at approximately $126,000. Legal & General Group Plc lifted its stake in Ignyta by 71.9% in the 2nd quarter. Legal & General Group Plc now owns 12,681 shares of the biopharmaceutical company’s stock valued at $131,000 after purchasing an additional 5,306 shares during the last quarter. Virtu KCG Holdings LLC bought a new position in Ignyta in the 2nd quarter valued at approximately $132,000. Finally, Goldman Sachs Group Inc. bought a new position in Ignyta in the 1st quarter valued at approximately $133,000. 80.82% of the stock is owned by institutional investors and hedge funds.
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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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