Ignyta Inc. (RXDX) Trading Down 4.7%
Ignyta Inc. (NASDAQ:RXDX) traded down 4.7% on Tuesday . The company traded as low as $5.42 and last traded at $5.46, with a volume of 170,179 shares changing hands. The stock had previously closed at $5.73.
A number of equities research analysts have recently weighed in on the stock. Jefferies Group restated a “buy” rating on shares of Ignyta in a report on Wednesday, May 11th. Credit Suisse Group AG restated a “buy” rating on shares of Ignyta in a report on Tuesday, July 12th. Leerink Swann restated a “buy” rating on shares of Ignyta in a report on Thursday, May 12th. Piper Jaffray Cos. restated a “buy” rating and issued a $32.00 price objective on shares of Ignyta in a report on Sunday, May 8th. Finally, Cantor Fitzgerald restated a “buy” rating on shares of Ignyta in a report on Thursday, April 7th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Ignyta presently has a consensus rating of “Buy” and a consensus price target of $18.07.
The company has a 50 day moving average of $5.77 and a 200 day moving average of $7.28. The company’s market cap is $227.38 million.
Ignyta (NASDAQ:RXDX) last issued its quarterly earnings results on Tuesday, May 10th. The biopharmaceutical company reported ($0.79) EPS for the quarter, missing the consensus estimate of ($0.68) by $0.11. Equities research analysts predict that Ignyta Inc. will post ($2.72) earnings per share for the current fiscal year.
In other Ignyta news, Director Alexander W. Casdin acquired 232,000 shares of the firm’s stock in a transaction on Wednesday, May 4th. The stock was bought at an average cost of $6.25 per share, for a total transaction of $1,450,000.00. Following the completion of the purchase, the director now directly owns 100,000 shares in the company, valued at $625,000. The transaction was disclosed in a document filed 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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