Kassirer Asset Management Corp bought a new stake in Ignyta Inc (NASDAQ:RXDX) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 199,702 shares of the biopharmaceutical company’s stock, valued at approximately $5,332,000. Ignyta accounts for approximately 5.5% of Kassirer Asset Management Corp’s portfolio, making the stock its biggest holding. Kassirer Asset Management Corp owned 0.30% of Ignyta as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently bought and sold shares of RXDX. Wells Fargo & Company MN grew its holdings in Ignyta by 2.3% in the 2nd quarter. Wells Fargo & Company MN now owns 22,385 shares of the biopharmaceutical company’s stock valued at $231,000 after buying an additional 500 shares during the period. TD Asset Management Inc. grew its holdings in shares of Ignyta by 26.0% during the 3rd quarter. TD Asset Management Inc. now owns 16,600 shares of the biopharmaceutical company’s stock worth $205,000 after purchasing an additional 3,425 shares during the period. IFP Advisors Inc lifted its position in Ignyta by 62.4% during the 4th quarter. IFP Advisors Inc now owns 12,743 shares of the biopharmaceutical company’s stock worth $340,000 after acquiring an additional 4,898 shares in the last quarter. Legal & General Group Plc lifted its position in Ignyta by 71.9% during the 2nd quarter. Legal & General Group Plc now owns 12,681 shares of the biopharmaceutical company’s stock worth $131,000 after acquiring an additional 5,306 shares in the last quarter. Finally, Voya Investment Management LLC lifted its position in Ignyta by 59.4% during the 2nd quarter. Voya Investment Management LLC now owns 22,561 shares of the biopharmaceutical company’s stock worth $234,000 after acquiring an additional 8,409 shares in the last quarter. Hedge funds and other institutional investors own 72.28% of the company’s stock.
Shares of Ignyta Inc (RXDX) traded down $0.02 during mid-day trading on Wednesday, reaching $26.95. The company’s stock had a trading volume of 4,214,800 shares, compared to its average volume of 3,043,335. The company has a debt-to-equity ratio of 0.34, a quick ratio of 6.07 and a current ratio of 6.07. Ignyta Inc has a 12 month low of $5.80 and a 12 month high of $27.10. The firm has a market cap of $1,790.00, a price-to-earnings ratio of -9.94 and a beta of 184.87.
RXDX has been the topic of a number of recent analyst reports. Ladenburg Thalmann Financial Services upped their target price on Ignyta from $20.25 to $31.00 in a research report on Wednesday, October 18th. Zacks Investment Research upgraded Ignyta from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a research note on Tuesday, November 14th. SunTrust Banks assumed coverage on Ignyta in a research note on Monday, November 20th. They set a “buy” rating for the company. Cantor Fitzgerald set a $23.00 price target on Ignyta and gave the stock a “buy” rating in a research note on Tuesday, November 14th. Finally, Jefferies Group lowered Ignyta from a “buy” rating to a “hold” rating and set a $27.00 price objective for the company. in a report on Friday, December 22nd. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Ignyta presently has an average rating of “Hold” and a consensus target price of $27.00.
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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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