Alambic Investment Management L.P. Boosts Stake in Ignyta Inc (NASDAQ:RXDX)

Alambic Investment Management L.P. lifted its position in shares of Ignyta Inc (NASDAQ:RXDX) by 69.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,900 shares of the biopharmaceutical company’s stock after purchasing an additional 8,600 shares during the period. Alambic Investment Management L.P.’s holdings in Ignyta were worth $558,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. increased its stake 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 valued at $1,219,000 after purchasing an additional 26,100 shares in the last quarter. TIAA CREF Investment Management LLC increased its stake 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 valued at $2,975,000 after purchasing an additional 159,055 shares in the last quarter. American Century Companies Inc. bought a new position in shares of Ignyta during the third quarter valued at approximately $2,842,000. Crestline Management LP increased its stake in shares of Ignyta by 44.3% during the third quarter. Crestline Management LP now owns 133,584 shares of the biopharmaceutical company’s stock valued at $1,650,000 after purchasing an additional 41,023 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Ignyta by 55.4% during the third quarter. JPMorgan Chase & Co. now owns 1,372,070 shares of the biopharmaceutical company’s stock valued at $16,808,000 after purchasing an additional 489,337 shares in the last quarter. 72.28% of the stock is owned by institutional investors.

A number of equities research analysts have recently commented on the stock. SunTrust Banks cut shares of Ignyta from a “buy” rating to a “hold” rating and increased their price target for the company from $25.00 to $27.00 in a report on Tuesday, December 26th. Zacks Investment Research upgraded shares of Ignyta from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a report on Tuesday, November 14th. ValuEngine upgraded shares of Ignyta from a “sell” rating to a “hold” rating in a report on Friday, February 2nd. Cantor Fitzgerald restated a “hold” rating and issued a $27.00 target price on shares of Ignyta in a report on Friday, February 9th. Finally, Ladenburg Thalmann Financial Services raised their target price on shares of Ignyta from $20.25 to $31.00 in a report on Wednesday, October 18th. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $27.00.

Shares of Ignyta Inc (NASDAQ:RXDX) traded down $0.02 during trading on Thursday, hitting $26.95. 4,214,800 shares of the stock traded hands, compared to its average volume of 3,043,335. The stock has a market cap of $1,790.00, a PE ratio of -9.94 and a beta of 184.87. Ignyta Inc has a 1-year low of $5.80 and a 1-year high of $27.10. The company has a quick ratio of 6.07, a current ratio of 6.07 and a debt-to-equity ratio of 0.34.

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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.

Institutional Ownership by Quarter for Ignyta (NASDAQ:RXDX)

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