Paulson & CO. Inc. Invests $1.27 Million in Ignyta, Inc. (NASDAQ:RXDX)

Paulson & CO. Inc. acquired a new position in Ignyta, Inc. (NASDAQ:RXDX) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 123,000 shares of the biopharmaceutical company’s stock, valued at approximately $1,273,000. Paulson & CO. Inc. owned 0.22% of Ignyta at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Tang Capital Management LLC grew its position in shares of Ignyta by 19.9% in the second quarter. Tang Capital Management LLC now owns 4,763,602 shares of the biopharmaceutical company’s stock valued at $49,303,000 after purchasing an additional 790,802 shares during the period. RA Capital Management LLC grew its position in shares of Ignyta by 291.8% in the second quarter. RA Capital Management LLC now owns 4,016,990 shares of the biopharmaceutical company’s stock valued at $41,576,000 after purchasing an additional 2,991,699 shares during the period. Victory Capital Management Inc. grew its position in shares of Ignyta by 29.7% in the second quarter. Victory Capital Management Inc. now owns 3,638,632 shares of the biopharmaceutical company’s stock valued at $37,660,000 after purchasing an additional 833,798 shares during the period. Broadfin Capital LLC grew its position in shares of Ignyta by 11.5% in the second quarter. Broadfin Capital LLC now owns 2,941,247 shares of the biopharmaceutical company’s stock valued at $30,442,000 after purchasing an additional 303,901 shares during the period. Finally, Frazier Management LLC lifted its stake in shares of Ignyta by 123.2% in the second quarter. Frazier Management LLC now owns 2,173,593 shares of the biopharmaceutical company’s stock worth $22,497,000 after buying an additional 1,199,900 shares in the last quarter. Institutional investors own 80.82% of the company’s stock.

A number of equities research analysts have recently issued reports on RXDX shares. Zacks Investment Research downgraded shares of Ignyta from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Cantor Fitzgerald restated a “buy” rating and issued a $15.00 price objective on shares of Ignyta in a report on Wednesday, September 6th. BidaskClub cut shares of Ignyta from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 19th. JPMorgan Chase & Co. restated a “buy” rating and issued a $20.00 price objective (up previously from $18.00) on shares of Ignyta in a report on Thursday, October 12th. Finally, Ladenburg Thalmann Financial Services lifted their price objective on shares of Ignyta from $20.25 to $31.00 in a report on Wednesday, October 18th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Ignyta presently has a consensus rating of “Buy” and an average target price of $21.80.

Shares of Ignyta, Inc. (NASDAQ:RXDX) traded up 0.817% during mid-day trading on Friday, hitting $15.425. 259,060 shares of the stock traded hands. Ignyta, Inc. has a one year low of $4.15 and a one year high of $18.30. The stock’s market cap is $867.70 million. The stock has a 50-day moving average of $13.00 and a 200 day moving average of $9.93.

Ignyta (NASDAQ:RXDX) last issued its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.56) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.63) by $0.07. Equities analysts predict that Ignyta, Inc. will post ($2.57) EPS for the current fiscal year.

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Ignyta 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.

Institutional Ownership by Quarter for Ignyta (NASDAQ:RXDX)

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