Bank of New York Mellon Corp increased its holdings in Ignyta Inc (NASDAQ:RXDX) by 33.7% during the fourth quarter, HoldingsChannel reports. The firm owned 225,593 shares of the biopharmaceutical company’s stock after acquiring an additional 56,844 shares during the quarter. Bank of New York Mellon Corp’s holdings in Ignyta were worth $6,023,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Dupont Capital Management Corp purchased a new position in Ignyta in the 4th quarter worth approximately $1,898,000. JPMorgan Chase & Co. lifted its holdings in Ignyta by 55.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,372,070 shares of the biopharmaceutical company’s stock worth $16,808,000 after purchasing an additional 489,337 shares in the last quarter. Crestline Management LP lifted its holdings in Ignyta by 44.3% in the 3rd quarter. Crestline Management LP now owns 133,584 shares of the biopharmaceutical company’s stock worth $1,650,000 after purchasing an additional 41,023 shares in the last quarter. Pentwater Capital Management LP purchased a new position in Ignyta in the 4th quarter worth approximately $2,670,000. Finally, Schwab Charles Investment Management Inc. lifted its holdings in Ignyta by 74.9% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 205,895 shares of the biopharmaceutical company’s stock worth $2,543,000 after purchasing an additional 88,150 shares in the last quarter. 72.28% of the stock is currently owned by institutional investors.
NASDAQ:RXDX opened at $26.95 on Friday. The company has a quick ratio of 6.07, a current ratio of 6.07 and a debt-to-equity ratio of 0.34. Ignyta Inc has a 1 year low of $5.80 and a 1 year high of $27.10.
A number of research analysts recently commented on RXDX shares. Cantor Fitzgerald set a $23.00 price target on Ignyta and gave the stock a “buy” rating in a report on Friday, December 22nd. Zacks Investment Research raised Ignyta from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a research note on Wednesday, January 10th. ValuEngine raised Ignyta from a “sell” rating to a “hold” rating in a research note on Friday, February 2nd. Jefferies Group downgraded Ignyta from a “buy” rating to a “hold” rating and set a $27.00 price objective on the stock. in a research note on Thursday, December 28th. Finally, SunTrust Banks downgraded Ignyta from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $25.00 to $27.00 in a research note on Tuesday, December 26th. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average 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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