Shares of Ignyta Inc. (NASDAQ:RXDX) shot up 0.5% during trading on Wednesday . The stock traded as high as $5.98 and last traded at $5.62, with a volume of 157,413 shares traded. The stock had previously closed at $5.59.

Several research firms recently commented on RXDX. Zacks Investment Research cut shares of Ignyta from a “hold” rating to a “sell” rating in a report on Saturday, August 13th. Piper Jaffray Cos. reduced their target price on shares of Ignyta from $32.00 to $20.00 and set an “overweight” rating for the company in a research note on Wednesday, August 10th. Credit Suisse Group AG reiterated a “buy” rating on shares of Ignyta in a research note on Tuesday, July 12th. JPMorgan Chase & Co. began coverage on shares of Ignyta in a research note on Thursday, June 23rd. They issued an “overweight” rating and a $15.00 target price for the company. Finally, 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. One equities research analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. The stock 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 $5.69 and a 200 day moving average price of $6.36. The stock’s market capitalization is $229.50 million.

Ignyta (NASDAQ:RXDX) last announced its quarterly 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. On average, equities analysts anticipate that Ignyta Inc. will post ($2.83) EPS for the current fiscal year.

In related news, Director James A. Bristol purchased 5,000 shares of the stock in a transaction dated Monday, August 15th. The stock was bought at an average cost of $5.65 per share, with a total value of $28,250.00. Following the purchase, the director now directly owns 21,667 shares in the company, valued at approximately $122,418.55. The purchase 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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