ARP Americas LP purchased a new position in shares of Ignyta Inc (NASDAQ:RXDX) in the fourth quarter, Holdings Channel reports. The fund purchased 247,803 shares of the biopharmaceutical company’s stock, valued at approximately $6,616,000. Ignyta comprises 1.9% of ARP Americas LP’s portfolio, making the stock its 11th biggest holding.
A number of other institutional investors and hedge funds have also recently modified their holdings of RXDX. Eagle Asset Management Inc. acquired a new stake in Ignyta during the 4th quarter worth about $60,248,000. Alpine Associates Management Inc. acquired a new stake in Ignyta during the 4th quarter worth about $41,028,000. Wells Fargo & Company MN lifted its position in Ignyta by 4,314.7% during the 3rd quarter. Wells Fargo & Company MN now owns 988,227 shares of the biopharmaceutical company’s stock worth $12,206,000 after acquiring an additional 965,842 shares during the period. Gabelli Funds LLC acquired a new stake in Ignyta during the 4th quarter worth about $19,915,000. Finally, Vanguard Group Inc. lifted its position in Ignyta by 44.6% during the 2nd quarter. Vanguard Group Inc. now owns 1,776,484 shares of the biopharmaceutical company’s stock worth $18,387,000 after acquiring an additional 548,307 shares during the period. 72.28% of the stock is owned by institutional investors.
A number of analysts have commented on RXDX shares. Cantor Fitzgerald set a $23.00 price target on Ignyta and gave the stock a “buy” rating in a research report on Friday, December 22nd. SunTrust Banks started coverage on Ignyta in a report on Monday, November 20th. They issued a “buy” rating for the company. Zacks Investment Research raised Ignyta from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a report on Tuesday, November 14th. Jefferies Group cut Ignyta from a “buy” rating to a “hold” rating and set a $27.00 price objective for the company. in a report on Thursday, December 28th. Finally, ValuEngine raised Ignyta from a “sell” rating to a “hold” rating in a report on Friday, February 2nd. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Ignyta currently has a consensus rating of “Hold” and a consensus target price of $27.00.
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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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