Traders Buy High Volume of Ignyta Put Options (NASDAQ:RXDX)

Ignyta Inc (NASDAQ:RXDX) was the target of unusually large options trading activity on Monday. Traders purchased 2,697 put options on the stock. This is an increase of 5,087% compared to the average daily volume of 52 put options.

Large investors have recently modified their holdings of the business. Schwab Charles Investment Management Inc. grew its holdings in Ignyta by 28.5% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 117,745 shares of the biopharmaceutical company’s stock worth $1,219,000 after acquiring an additional 26,100 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Ignyta by 29.7% in the 2nd 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 last quarter. Citadel Advisors LLC boosted its stake in shares of Ignyta by 108.3% in the 2nd quarter. Citadel Advisors LLC now owns 76,585 shares of the biopharmaceutical company’s stock valued at $793,000 after purchasing an additional 39,819 shares during the last quarter. Pier Capital LLC bought a new position in shares of Ignyta in the 2nd quarter valued at about $5,823,000. Finally, TIAA CREF Investment Management LLC boosted its stake in shares of Ignyta by 123.9% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 287,394 shares of the biopharmaceutical company’s stock valued at $2,975,000 after purchasing an additional 159,055 shares during the last quarter. 71.51% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Ignyta (NASDAQ:RXDX) opened at $27.00 on Friday. The stock has a market cap of $1,790.00, a PE ratio of -9.96 and a beta of 206.07. The company has a current ratio of 6.07, a quick ratio of 6.07 and a debt-to-equity ratio of 0.34. Ignyta has a 1 year low of $4.60 and a 1 year high of $27.10.

Ignyta (NASDAQ:RXDX) last announced its earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.51) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.03. analysts expect that Ignyta will post -2.27 earnings per share for the current fiscal year.

RXDX has been the subject of several recent analyst reports. Cantor Fitzgerald reaffirmed a “buy” rating and set a $15.00 price objective on shares of Ignyta in a report on Wednesday, September 27th. Zacks Investment Research raised shares of Ignyta from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a report on Thursday, October 12th. JPMorgan Chase & Co. reiterated a “buy” rating and set a $20.00 target price (up from $18.00) on shares of Ignyta in a research note on Thursday, October 12th. Ladenburg Thalmann Financial Services upped their target price on shares of Ignyta from $20.25 to $31.00 in a research note on Wednesday, October 18th. Finally, SunTrust Banks started coverage on shares of Ignyta in a research note on Monday, November 20th. They set a “buy” rating for the company. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $26.33.

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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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