Ignyta Inc. (NASDAQ:RXDX)’s share price traded down 3% during mid-day trading on Wednesday . The company traded as low as $5.89 and last traded at $5.89, with a volume of 59,010 shares traded. The stock had previously closed at $6.07.

A number of equities analysts have recently issued reports on the stock. Piper Jaffray Cos. reissued a “buy” rating and set a $32.00 price objective on shares of Ignyta in a research report on Sunday, May 8th. Leerink Swann reissued a “buy” rating on shares of Ignyta in a research report on Thursday, May 12th. Jefferies Group reissued a “buy” rating on shares of Ignyta in a research report on Wednesday, May 11th. Cantor Fitzgerald reissued a “buy” rating on shares of Ignyta in a research report on Wednesday, June 8th. Finally, Zacks Investment Research cut shares of Ignyta from a “hold” rating to a “sell” rating in a research report on Saturday, August 13th. One investment analyst has rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. Ignyta presently has a consensus rating of “Buy” and an average price target of $16.36.

The firm has a 50 day moving average price of $5.70 and a 200-day moving average price of $6.41. The firm’s market cap is $241.58 million.

Ignyta (NASDAQ:RXDX) last issued its earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($0.70) EPS for the quarter, missing analysts’ consensus estimates of ($0.65) by $0.05. Equities research analysts expect that Ignyta Inc. will post ($2.83) earnings per share for the current fiscal year.

In other news, Director James A. Bristol acquired 5,000 shares of the firm’s stock in a transaction on Monday, August 15th. The shares were purchased at an average price of $5.65 per share, for a total transaction of $28,250.00. Following the completion of the transaction, the director now owns 21,667 shares of the company’s stock, valued at $122,418.55. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

A hedge fund recently raised its stake in Ignyta stock. RS Investment Management Co. LLC boosted its position in shares of Ignyta Inc. (NASDAQ:RXDX) by 28.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,534,161 shares of the biopharmaceutical company’s stock after buying an additional 336,311 shares during the period. RS Investment Management Co. LLC owned about 5.18% of Ignyta worth $20,558,000 as of its most recent SEC filing.

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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