Rhumbline Advisers Increases Position in Ignyta, Inc. (RXDX)
Rhumbline Advisers boosted its position in Ignyta, Inc. (NASDAQ:RXDX) by 65.1% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 53,189 shares of the biopharmaceutical company’s stock after acquiring an additional 20,968 shares during the period. Rhumbline Advisers owned 0.13% of Ignyta worth $551,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Schwab Charles Investment Management Inc. lifted its holdings in Ignyta by 28.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 117,745 shares of the biopharmaceutical company’s stock valued at $1,219,000 after purchasing an additional 26,100 shares during the last quarter. Algert Global LLC bought a new position in Ignyta during the second quarter worth about $667,000. TD Asset Management Inc. bought a new position in Ignyta during the second quarter worth about $136,000. Emerald Mutual Fund Advisers Trust bought a new position in Ignyta during the second quarter worth about $12,018,000. Finally, Emerald Advisers Inc. PA bought a new position in Ignyta during the second quarter worth about $16,905,000. Institutional investors and hedge funds own 80.82% of the company’s stock.
RXDX has been the subject of several recent research reports. Cantor Fitzgerald reiterated a “buy” rating and issued a $15.00 target price on shares of Ignyta in a research note on Wednesday, September 27th. Zacks Investment Research cut shares of Ignyta from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $27.00 price objective on shares of Ignyta in a report on Thursday, June 22nd. BidaskClub downgraded shares of Ignyta from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Finally, ValuEngine upgraded shares of Ignyta from a “sell” rating to a “hold” rating in a research note on Thursday, June 15th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $17.33.
Shares of Ignyta, Inc. (NASDAQ:RXDX) opened at 13.30 on Tuesday. The stock’s market cap is $748.16 million. Ignyta, Inc. has a one year low of $4.15 and a one year high of $13.35. The company’s 50-day moving average price is $10.90 and its 200-day moving average price is $9.20.
Ignyta (NASDAQ:RXDX) last released its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.56) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.63) by $0.07. Equities research analysts anticipate that Ignyta, Inc. will post ($2.57) earnings per share for the current year.
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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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