Millennium Management LLC lessened its holdings in Ignyta Inc (NASDAQ:RXDX) by 86.0% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 34,743 shares of the biopharmaceutical company’s stock after selling 214,027 shares during the period. Millennium Management LLC owned approximately 0.05% of Ignyta worth $928,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in RXDX. Eagle Asset Management Inc. purchased a new position in shares of Ignyta in the 4th quarter worth approximately $60,248,000. Gardner Lewis Asset Management L P purchased a new position in Ignyta in the fourth quarter valued at approximately $49,431,000. Alliancebernstein L.P. lifted its stake in Ignyta by 1,414.3% in the fourth quarter. Alliancebernstein L.P. now owns 1,746,002 shares of the biopharmaceutical company’s stock valued at $46,618,000 after purchasing an additional 1,630,702 shares during the last quarter. Carillon Tower Advisers Inc. purchased a new position in Ignyta in the fourth quarter valued at approximately $41,780,000. Finally, Alpine Associates Management Inc. purchased a new position in Ignyta in the fourth quarter valued at approximately $41,028,000. Hedge funds and other institutional investors own 72.28% of the company’s stock.
RXDX has been the topic of several research analyst reports. Cantor Fitzgerald reiterated a “hold” rating and issued a $27.00 price objective on shares of Ignyta in a research note on Friday, February 9th. ValuEngine upgraded Ignyta from a “sell” rating to a “hold” rating in a research note on Friday, February 2nd. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Ignyta currently has a consensus rating of “Hold” and a consensus price target of $27.00.
NASDAQ:RXDX opened at $26.95 on Thursday. Ignyta Inc has a 1 year low of $5.80 and a 1 year high of $27.10. The company has a debt-to-equity ratio of 0.34, a quick ratio of 6.07 and a current ratio of 6.07.
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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