BidaskClub cut shares of Ignyta, Inc. (NASDAQ:RXDX) from a buy rating to a hold rating in a research note issued to investors on Friday morning.

Several other analysts have also issued reports on RXDX. Zacks Investment Research lowered shares of Ignyta from a buy rating to a hold rating in a research report on Saturday, April 1st. Cantor Fitzgerald restated a buy rating and set a $18.00 price target on shares of Ignyta in a research report on Friday, April 28th. ValuEngine upgraded shares of Ignyta from a sell rating to a hold rating in a research report on Thursday, June 15th. Finally, Jefferies Group LLC restated a buy rating and set a $27.00 price target on shares of Ignyta in a research report on Thursday, June 22nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. Ignyta presently has an average rating of Hold and an average target price of $18.00.

Shares of Ignyta (RXDX) traded down 0.789% on Friday, reaching $9.425. The company’s stock had a trading volume of 156,632 shares. Ignyta has a 12 month low of $4.15 and a 12 month high of $11.45. The stock has a 50 day moving average of $9.76 and a 200-day moving average of $8.15. The firm’s market cap is $394.30 million.

Ignyta (NASDAQ:RXDX) last posted its quarterly earnings results on Monday, May 1st. The biopharmaceutical company reported ($0.96) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.69) by $0.27. On average, analysts anticipate that Ignyta will post ($2.71) EPS for the current year.

COPYRIGHT VIOLATION NOTICE: “Ignyta, Inc. (NASDAQ:RXDX) Downgraded by BidaskClub to Hold” was originally posted by Watch List News and is the sole property of of Watch List News. If you are viewing this news story on another website, it was illegally stolen and reposted in violation of US & international trademark & copyright law. The correct version of this news story can be accessed at https://www.watchlistnews.com/ignyta-inc-nasdaqrxdx-downgraded-by-bidaskclub-to-hold/1465600.html.

Hedge funds have recently bought and sold shares of the stock. State Street Corp raised its stake in Ignyta by 7.8% in the fourth quarter. State Street Corp now owns 426,861 shares of the biopharmaceutical company’s stock valued at $2,264,000 after buying an additional 30,833 shares during the last quarter. Renaissance Technologies LLC raised its stake in Ignyta by 2.4% in the fourth quarter. Renaissance Technologies LLC now owns 92,100 shares of the biopharmaceutical company’s stock worth $488,000 after buying an additional 2,200 shares in the last quarter. Wells Fargo & Company MN raised its stake in Ignyta by 4.8% in the first quarter. Wells Fargo & Company MN now owns 21,885 shares of the biopharmaceutical company’s stock worth $188,000 after buying an additional 1,000 shares in the last quarter. TFS Capital LLC raised its stake in Ignyta by 5.5% in the first quarter. TFS Capital LLC now owns 32,486 shares of the biopharmaceutical company’s stock worth $279,000 after buying an additional 1,680 shares in the last quarter. Finally, Trexquant Investment LP purchased a new stake in Ignyta during the first quarter worth $219,000. Institutional investors and hedge funds own 47.90% of the company’s stock.

About Ignyta

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.

Receive News & Ratings for Ignyta Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ignyta Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.