New York State Common Retirement Fund Boosts Position in Ignyta, Inc. (RXDX)
New York State Common Retirement Fund increased its stake in shares of Ignyta, Inc. (NASDAQ:RXDX) by 119.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 53,500 shares of the biopharmaceutical company’s stock after purchasing an additional 29,099 shares during the quarter. New York State Common Retirement Fund owned approximately 0.13% of Ignyta worth $554,000 as of its most recent filing with the SEC.
Other hedge funds also recently bought and sold shares of the company. Schwab Charles Investment Management Inc. boosted its holdings in shares of Ignyta by 28.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 117,745 shares of the biopharmaceutical company’s stock worth $1,219,000 after purchasing an additional 26,100 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Ignyta by 29.7% during the second quarter. Victory Capital Management Inc. now owns 3,638,632 shares of the biopharmaceutical company’s stock worth $37,660,000 after purchasing an additional 833,798 shares during the period. Pier Capital LLC acquired a new stake in shares of Ignyta during the second quarter worth approximately $5,823,000. TIAA CREF Investment Management LLC boosted its holdings in shares of Ignyta by 123.9% during the second quarter. TIAA CREF Investment Management LLC now owns 287,394 shares of the biopharmaceutical company’s stock worth $2,975,000 after purchasing an additional 159,055 shares during the period. Finally, Emerald Advisers Inc. PA acquired a new stake in shares of Ignyta during the second quarter worth approximately $16,905,000. Institutional investors and hedge funds own 67.35% of the company’s stock.
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Shares of Ignyta, Inc. (RXDX) opened at $16.15 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 6.07 and a quick ratio of 7.31. Ignyta, Inc. has a one year low of $4.60 and a one year high of $18.30.
Ignyta (NASDAQ:RXDX) last posted its earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.51) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.54) by $0.03. research analysts expect that Ignyta, Inc. will post -2.38 EPS for the current fiscal year.
RXDX has been the subject of several research reports. Ladenburg Thalmann Financial Services raised their price target on shares of Ignyta from $20.25 to $31.00 in a report on Wednesday, October 18th. Cantor Fitzgerald set a $15.00 price target on shares of Ignyta and gave the stock a “buy” rating in a report on Tuesday, October 17th. J P Morgan Chase & Co restated a “buy” rating and set a $20.00 price target (up from $18.00) on shares of Ignyta in a report on Thursday, October 12th. Zacks Investment Research upgraded shares of Ignyta from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a report on Thursday, October 12th. Finally, BidaskClub cut shares of Ignyta from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 19th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $21.80.
Ignyta, Inc is a biotechnology company. The Company is focused on precision medicine in oncology. The Company is pursuing an integrated therapeutic (Rx) and companion diagnostic (Dx) strategy for treating cancer patients. The Company’s pipeline includes various compounds, such as entrectinib, RXDX-105, taladegib and RXDX-106.
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