Pier Capital LLC reduced its stake in Ignyta Inc (NASDAQ:RXDX) by 59.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 217,801 shares of the biopharmaceutical company’s stock after selling 319,817 shares during the period. Pier Capital LLC owned 0.32% of Ignyta worth $5,815,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in the stock. QS Investors LLC purchased a new stake in shares of Ignyta during the fourth quarter valued at approximately $117,000. Trexquant Investment LP purchased a new stake in shares of Ignyta during the third quarter valued at approximately $152,000. LMR Partners LLP purchased a new stake in shares of Ignyta during the third quarter valued at approximately $169,000. TD Asset Management Inc. grew its holdings in shares of Ignyta by 26.0% during the third quarter. TD Asset Management Inc. now owns 16,600 shares of the biopharmaceutical company’s stock valued at $205,000 after buying an additional 3,425 shares during the last quarter. Finally, Amalgamated Bank purchased a new stake in shares of Ignyta during the fourth quarter valued at approximately $213,000. 72.28% of the stock is owned by institutional investors.
Shares of Ignyta Inc (RXDX) opened at $26.98 on Tuesday. Ignyta Inc has a fifty-two week low of $5.80 and a fifty-two week high of $27.10. The company has a debt-to-equity ratio of 0.34, a current ratio of 6.07 and a quick ratio of 6.07. The stock has a market cap of $1,790.00, a P/E ratio of -9.96 and a beta of 184.87.
A number of equities research analysts have recently commented on RXDX shares. Jefferies Group cut shares of Ignyta from a “buy” rating to a “hold” rating and set a $27.00 price target on the stock. in a report on Thursday, December 28th. Cantor Fitzgerald set a $23.00 price target on shares of Ignyta and gave the company a “buy” rating in a report on Friday, December 22nd. SunTrust Banks started coverage on shares of Ignyta in a report on Monday, November 20th. They set a “buy” rating on the stock. Zacks Investment Research cut shares of Ignyta from a “buy” rating to a “hold” rating in a report on Tuesday, January 9th. Finally, Ladenburg Thalmann Financial Services cut shares of Ignyta from a “buy” rating to a “neutral” rating in a report on Tuesday, December 26th. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock currently 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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