Fmr LLC cut its stake in Ignyta, Inc. (NASDAQ:RXDX) by 6.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 492,031 shares of the biopharmaceutical company’s stock after selling 32,300 shares during the period. Fmr LLC owned about 1.18% of Ignyta worth $4,231,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of RXDX. Trexquant Investment LP bought a new position in shares of Ignyta during the first quarter worth about $219,000. Renaissance Technologies LLC increased 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 last quarter. JPMorgan Chase & Co. increased 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 last quarter. State Street Corp increased 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 last quarter. Finally, Victory Capital Management Inc. increased 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 last quarter. 47.90% of the stock is currently owned by institutional investors.
Shares of Ignyta, Inc. (RXDX) opened at 9.50 on Tuesday. Ignyta, Inc. has a one year low of $4.15 and a one year high of $11.45. The company’s market cap is $397.44 million. The stock’s 50 day moving average is $9.76 and its 200-day moving average is $8.15.
Ignyta (NASDAQ:RXDX) last released its 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 research analysts expect that Ignyta, Inc. will post ($2.71) earnings per share for the current year.
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A number of research analysts have issued reports on RXDX shares. Zacks Investment Research downgraded shares of Ignyta from a “hold” rating to a “sell” rating in a research report on Wednesday, May 24th. Cantor Fitzgerald set a $15.00 price objective on shares of Ignyta and gave the company a “buy” rating in a research report on Sunday, June 4th. Jefferies Group LLC reissued a “buy” rating and set a $27.00 price objective on shares of Ignyta in a research report on Thursday, June 22nd. ValuEngine raised shares of Ignyta from a “sell” rating to a “hold” rating in a research report on Thursday, June 15th. Finally, BidaskClub downgraded shares of Ignyta from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 19th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $18.00.
Ignyta Company Profile
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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