Ameriprise Financial Inc. Invests $1.61 Million in Ignyta Inc (RXDX)
Ameriprise Financial Inc. purchased a new stake in shares of Ignyta Inc (NASDAQ:RXDX) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 129,968 shares of the biopharmaceutical company’s stock, valued at approximately $1,605,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in RXDX. RA Capital Management LLC increased its position in shares of Ignyta by 291.8% during the second quarter. RA Capital Management LLC now owns 4,016,990 shares of the biopharmaceutical company’s stock valued at $41,576,000 after buying an additional 2,991,699 shares during the period. Frazier Management LLC grew its holdings in Ignyta by 123.2% in the second quarter. Frazier Management LLC now owns 2,173,593 shares of the biopharmaceutical company’s stock worth $22,497,000 after purchasing an additional 1,199,900 shares during the period. Farallon Capital Management LLC purchased a new stake in Ignyta in the second quarter worth about $11,939,000. Tang Capital Management LLC grew its holdings in Ignyta by 19.9% in the second quarter. Tang Capital Management LLC now owns 4,763,602 shares of the biopharmaceutical company’s stock worth $49,303,000 after purchasing an additional 790,802 shares during the period. Finally, Vanguard Group Inc. grew its holdings in Ignyta by 44.6% in the second quarter. Vanguard Group Inc. now owns 1,776,484 shares of the biopharmaceutical company’s stock worth $18,387,000 after purchasing an additional 548,307 shares during the period. Institutional investors own 71.51% of the company’s stock.
A number of equities research analysts have weighed in on RXDX shares. Cantor Fitzgerald restated a “buy” rating and issued a $15.00 price objective on shares of Ignyta in a report on Wednesday, September 27th. Zacks Investment Research upgraded shares of Ignyta from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a report on Thursday, October 12th. JPMorgan Chase & Co. restated a “buy” rating and issued a $20.00 price objective (up previously from $18.00) on shares of Ignyta in a report on Thursday, October 12th. Ladenburg Thalmann Financial Services upped their price objective on shares of Ignyta from $20.25 to $31.00 in a report on Wednesday, October 18th. Finally, SunTrust Banks started coverage on shares of Ignyta in a report on Monday, November 20th. They issued a “buy” rating on the stock. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $24.33.
Shares of Ignyta Inc (NASDAQ:RXDX) opened at $27.00 on Tuesday. The firm has a market cap of $1,790.00, a PE ratio of -9.96 and a beta of 206.07. The company has a quick ratio of 6.07, a current ratio of 6.07 and a debt-to-equity ratio of 0.34. Ignyta Inc has a fifty-two week low of $4.60 and a fifty-two week high of $27.00.
Ignyta (NASDAQ:RXDX) last announced its quarterly earnings data on Tuesday, November 7th. The biopharmaceutical company reported ($0.51) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.54) by $0.03. equities analysts expect that Ignyta Inc will post -2.27 EPS for the current year.
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Ignyta Company Profile
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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