Market Runner: Ignyta (NASDAQ:RXDX) 2016 Q2 Sentiment Report

November 16, 2016 - By Vivian Park   ·   0 Comments

Market Runner: Ignyta (NASDAQ:RXDX)  2016 Q2 Sentiment Report

Sentiment for Ignyta (NASDAQ:RXDX)

Ignyta (NASDAQ:RXDX) institutional sentiment increased to 2.87 in 2016 Q2. Its up 1.47, from 1.4 in 2016Q1. The ratio is positive, as 43 institutional investors opened new or increased positions, while 15 cut down and sold stakes in Ignyta. The institutional investors in our partner’s database now possess: 24.37 million shares, up from 17.64 million shares in 2016Q1. Also, the number of institutional investors holding Ignyta in their top 10 positions increased from 1 to 3 for an increase of 2. Sold All: 6 Reduced: 9 Increased: 32 New Position: 11.

Ignyta, Inc. is an oncology biotechnology company. The company has a market cap of $269.70 million. The Firm focuses on an integrated therapeutic and companion diagnostic (Dx) strategy for treating cancer patients. It currently has negative earnings. The Company’s 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.

About 96,405 shares traded hands. Ignyta Inc (NASDAQ:RXDX) has declined 15.38% since April 14, 2016 and is downtrending. It has underperformed by 20.06% the S&P500.

According to Zacks Investment Research, “Ignyta, Inc. is a biotechnology company. It develops precision medicine with integrated Rx/Dx solutions for cancer patients. The company focuses on the development of RXDX-101, its proprietary oral tyrosine kinase inhibitor that targets solid tumor indications, and advancing its novel Spark discovery programs that leverage its proprietary cancer genomic and epigenomic knowledge bases. Ignyta, Inc. is based in San Diego, California.”

Tang Capital Management Llc holds 9.59% of its portfolio in Ignyta Inc for 3.97 million shares. Great Point Partners Llc owns 3.24 million shares or 5.03% of their US portfolio. Moreover, Armistice Capital Llc has 3.21% invested in the company for 1.56 million shares. The New York-based Broadfin Capital Llc has invested 1.19% in the stock. Acuta Capital Partners Llc, a California-based fund reported 229,748 shares.#img1#

Ignyta Inc (NASDAQ:RXDX) Ratings Coverage

Ratings analysis reveals 100% of Ignyta’s analysts are positive. Out of 6 Wall Street analysts rating Ignyta, 6 give it “Buy”, 0 “Sell” rating, while 0 recommend “Hold”. The lowest target is $15 while the high is $38. The stock’s average target of $22.50 is 247.76% above today’s ($6.47) share price. RXDX was included in 10 notes of analysts from August 12, 2015. The stock of Ignyta Inc (NASDAQ:RXDX) earned “Buy” rating by Cantor Fitzgerald on Monday, October 26. Jefferies initiated the shares of RXDX in a report on Friday, October 23 with “Buy” rating. Piper Jaffray maintained the shares of RXDX in a report on Wednesday, August 12 with “Overweight” rating. The firm earned “Outperform” rating on Tuesday, March 15 by Credit Suisse. The firm has “Buy” rating given on Tuesday, November 10 by Cantor Fitzgerald. The stock has “Buy” rating given by Canaccord Genuity on Monday, October 26. Credit Suisse initiated the shares of RXDX in a report on Thursday, January 21 with “Outperform” rating. JP Morgan initiated Ignyta Inc (NASDAQ:RXDX) on Thursday, June 23 with “Overweight” rating.

RXDX Company Profile

Ignyta, Inc. (Ignyta), incorporated on August 29, 2011, is an oncology biotechnology company. The Firm focuses on an integrated therapeutic (Rx) and companion diagnostic (Dx) strategy for treating cancer patients. The Company’s 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. The Company’s Dx focuses on pairing the product candidates with biomarker companion diagnostics that are designed to identify, at the molecular level, the patients who are likely to benefit from the therapies it develops.

More news for Ignyta Inc (NASDAQ:RXDX) were recently published by: Fool.com, which released: “Why Ignyta Inc. Shares Are Skyrocketing Higher” on June 01, 2015. Businesswire.com‘s article titled: “Ignyta Announces Initiation of STARTRK “Next Generation” Phase 1/1b Pediatric …” and published on December 09, 2015 is yet another important article.

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By Vivian Park

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