Ignyta, Inc. (NASDAQ:RXDX) shares were down 5.4% on Tuesday . The stock traded as low as $15.80 and last traded at $15.85. Approximately 936,700 shares were traded during mid-day trading, an increase of 15% from the average daily volume of 817,685 shares. The stock had previously closed at $16.75.

Several research analysts have weighed in on RXDX shares. Cantor Fitzgerald reissued a “buy” rating and issued a $15.00 price target on shares of Ignyta in a report on Wednesday, September 27th. J P Morgan Chase & Co reissued a “buy” rating and issued a $20.00 price target (up from $18.00) on shares of Ignyta in a report on Thursday, October 12th. SunTrust Banks initiated coverage on shares of Ignyta in a research report on Monday, November 20th. They set a “buy” rating on the stock. Zacks Investment Research lowered shares of Ignyta from a “buy” rating to a “hold” rating in a research report on Wednesday, October 18th. Finally, Ladenburg Thalmann Financial Services increased their target price on shares of Ignyta from $20.25 to $31.00 in a research report on Wednesday, October 18th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $23.80.

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

Several hedge funds and other institutional investors have recently bought and sold shares of RXDX. RA Capital Management LLC boosted its position in shares of Ignyta by 291.8% during the 2nd quarter. RA Capital Management LLC now owns 4,016,990 shares of the biopharmaceutical company’s stock worth $41,576,000 after acquiring an additional 2,991,699 shares in the last quarter. Frazier Management LLC boosted its position in shares of Ignyta by 123.2% during the 2nd quarter. Frazier Management LLC now owns 2,173,593 shares of the biopharmaceutical company’s stock worth $22,497,000 after acquiring an additional 1,199,900 shares in the last quarter. Farallon Capital Management LLC acquired a new stake in shares of Ignyta during the 2nd quarter worth approximately $11,939,000. Wells Fargo & Company MN boosted its position in Ignyta by 4,314.7% in the third quarter. Wells Fargo & Company MN now owns 988,227 shares of the biopharmaceutical company’s stock valued at $12,206,000 after buying an additional 965,842 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position in 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 buying an additional 833,798 shares in the last quarter. Institutional investors and hedge funds own 72.88% of the company’s stock.

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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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