Ignyta Inc. (RXDX) Trading Down 3%
Ignyta Inc. (NASDAQ:RXDX)’s share price was down 3% during mid-day trading on Monday . The stock traded as low as $5.84 and last traded at $5.85, with a volume of 64,215 shares trading hands. The stock had previously closed at $6.03.
Several equities analysts have issued reports on RXDX shares. Cantor Fitzgerald reiterated a “buy” rating and issued a $18.00 target price on shares of Ignyta in a research note on Friday, June 17th. Jefferies Group reiterated a “buy” rating and issued a $20.00 target price on shares of Ignyta in a research note on Monday, June 6th. Leerink Swann reiterated a “buy” rating on shares of Ignyta in a research note on Thursday, May 12th. Piper Jaffray Cos. reiterated a “buy” rating and issued a $32.00 target price on shares of Ignyta in a research note on Sunday, May 8th. Finally, Zacks Investment Research upgraded Ignyta from a “hold” rating to a “buy” rating and set a $8.50 target price on the stock in a research note on Tuesday, March 15th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $18.07.
The firm’s market cap is $239.04 million. The firm has a 50 day moving average price of $5.91 and a 200 day moving average price of $7.52.
Ignyta (NASDAQ:RXDX) last released its quarterly earnings results on Tuesday, May 10th. The biopharmaceutical company reported ($0.79) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.68) by $0.11. Equities research analysts forecast that Ignyta Inc. will post ($2.72) EPS for the current fiscal year.
In other news, Director Alexander W. Casdin bought 232,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 4th. The shares were purchased at an average price of $6.25 per share, with a total value of $1,450,000.00. Following the purchase, the director now owns 100,000 shares in the company, valued at $625,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
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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