JPMorgan Chase & Co. decreased its position in Ignyta Inc. (NASDAQ:RXDX) by 2.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 923,523 shares of the biopharmaceutical company’s stock after selling 23,049 shares during the period. JPMorgan Chase & Co. owned 2.22% of Ignyta worth $5,006,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. California State Teachers Retirement System raised its position in Ignyta by 35.8% in the second quarter. California State Teachers Retirement System now owns 61,811 shares of the biopharmaceutical company’s stock worth $335,000 after buying an additional 16,295 shares in the last quarter. BVF Inc. IL acquired a new position in Ignyta during the first quarter worth approximately $339,000. Jacobs Levy Equity Management Inc. acquired a new position in Ignyta during the first quarter worth approximately $517,000. Bank of New York Mellon Corp raised its position in Ignyta by 40.2% in the second quarter. Bank of New York Mellon Corp now owns 100,078 shares of the biopharmaceutical company’s stock worth $543,000 after buying an additional 28,681 shares in the last quarter. Finally, Sabby Management LLC raised its position in Ignyta by 131.1% in the first quarter. Sabby Management LLC now owns 125,000 shares of the biopharmaceutical company’s stock worth $846,000 after buying an additional 70,901 shares in the last quarter. 62.39% of the stock is currently owned by institutional investors and hedge funds.
Ignyta Inc. (NASDAQ:RXDX) traded up 1.0125% during midday trading on Friday, hitting $5.6567. 9,487 shares of the stock were exchanged. The company’s market capitalization is $235.61 million. Ignyta Inc. has a 1-year low of $4.63 and a 1-year high of $15.20. The company’s 50 day moving average is $5.98 and its 200 day moving average is $6.22.
Ignyta (NASDAQ:RXDX) last announced its quarterly earnings data on Tuesday, August 9th. The biopharmaceutical company reported ($0.70) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.65) by $0.05. Analysts predict that Ignyta Inc. will post ($2.83) earnings per share for the current fiscal year.
RXDX has been the topic of a number of analyst reports. Credit Suisse Group AG reiterated a “buy” rating on shares of Ignyta in a research note on Tuesday, July 12th. Cantor Fitzgerald reiterated a “buy” rating and set a $18.00 price objective on shares of Ignyta in a research note on Friday, June 17th. Piper Jaffray Cos. reduced their price objective on shares of Ignyta from $32.00 to $20.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 10th. JPMorgan Chase & Co. initiated coverage on shares of Ignyta in a research note on Thursday, June 23rd. They set an “overweight” rating and a $15.00 price objective on the stock. Finally, Zacks Investment Research downgraded shares of Ignyta from a “hold” rating to a “sell” rating in a research note on Saturday, August 13th. One research analyst has rated the stock with a sell rating and six have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $16.36.
In other news, Director James A. Bristol acquired 5,000 shares of the stock in a transaction that occurred on Monday, August 15th. The shares were acquired at an average cost of $5.65 per share, for a total transaction of $28,250.00. Following the purchase, the director now owns 21,667 shares of the company’s stock, valued at approximately $122,418.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 15.10% of the stock is owned by corporate insiders.
Ignyta, Inc is an oncology biotechnology company. The Company focuses on an integrated therapeutic (Rx) and companion diagnostic (Dx) strategy for treating cancer patients. Its Rx is focused on discovering, in licensing or acquiring, then developing and commercializing molecularly targeted therapies that, sequentially or in combination, are foundational for eradicating residual disease.
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