Ignyta Inc. (RXDX) Shares Down 2.3%
Ignyta Inc. (NASDAQ:RXDX) traded down 2.3% during mid-day trading on Tuesday . The company traded as low as $5.50 and last traded at $5.53, with a volume of 84,872 shares trading hands. The stock had previously closed at $5.66.
RXDX has been the subject of several analyst reports. Zacks Investment Research downgraded Ignyta from a “hold” rating to a “sell” rating in a report on Saturday, August 13th. Piper Jaffray Cos. cut their price target on Ignyta from $32.00 to $20.00 and set an “overweight” rating for the company in a report on Wednesday, August 10th. Credit Suisse Group AG reiterated a “buy” rating on shares of Ignyta in a report on Tuesday, July 12th. JPMorgan Chase & Co. initiated coverage on Ignyta in a report on Thursday, June 23rd. They issued an “overweight” rating and a $15.00 price target for the company. Finally, Cantor Fitzgerald reiterated a “buy” rating and issued a $18.00 price target on shares of Ignyta in a report on Friday, June 17th. One analyst has rated the stock with a sell rating and six have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $16.36.
The company has a 50 day moving average price of $5.68 and a 200-day moving average price of $6.36. The stock’s market capitalization is $234.91 million.
Ignyta (NASDAQ:RXDX) last posted its quarterly earnings data on Tuesday, August 9th. The biopharmaceutical company reported ($0.70) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.65) by $0.05. Analysts predict that Ignyta Inc. will post ($2.83) earnings per share for the current year.
In other Ignyta news, Director James A. Bristol bought 5,000 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 21,667 shares in the company, valued at $122,418.55. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
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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