Shares of Ignyta Inc. (NASDAQ:RXDX) traded down 6.5% during trading on Wednesday . The stock traded as low as $5.96 and last traded at $6.04, with a volume of 153,119 shares changing hands. The stock had previously closed at $6.46.

Several analysts have recently commented on the stock. Piper Jaffray Cos. lowered their target price on shares of Ignyta from $32.00 to $20.00 and set an “overweight” rating for the company in a report on Wednesday, August 10th. Cantor Fitzgerald restated a “buy” rating on shares of Ignyta in a research report on Wednesday, June 8th. Credit Suisse Group AG restated a “buy” rating on shares of Ignyta in a research report on Tuesday, July 12th. JPMorgan Chase & Co. assumed coverage on shares of Ignyta in a research report on Thursday, June 23rd. They set an “overweight” rating and a $15.00 price target for the company. Finally, Zacks Investment Research lowered shares of Ignyta from a “hold” rating to a “sell” rating in a research report on Saturday, August 13th. One research analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. Ignyta has an average rating of “Buy” and an average price target of $16.36.

The firm has a 50-day moving average price of $5.80 and a 200 day moving average price of $6.25. The firm’s market capitalization is $256.99 million.

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Ignyta (NASDAQ:RXDX) last posted its quarterly earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($0.70) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.65) by $0.05. Equities research analysts expect that Ignyta Inc. will post ($2.83) EPS for the current fiscal year.

In related news, Director James A. Bristol purchased 5,000 shares of the stock in a transaction dated Monday, August 15th. The stock was purchased at an average price of $5.65 per share, with a total value of $28,250.00. Following the transaction, the director now directly owns 21,667 shares in the company, valued at $122,418.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 15.10% of the stock is owned by insiders.

Institutional investors have recently bought and sold shares of the company. BlackRock Advisors LLC raised its position in Ignyta by 2.1% in the second quarter. BlackRock Advisors LLC now owns 93,702 shares of the biopharmaceutical company’s stock valued at $508,000 after buying an additional 1,972 shares in the last quarter. Rhumbline Advisers raised its position in Ignyta by 11.6% in the second quarter. Rhumbline Advisers now owns 27,635 shares of the biopharmaceutical company’s stock valued at $150,000 after buying an additional 2,875 shares in the last quarter. Geode Capital Management LLC raised its position in Ignyta by 2.1% in the first quarter. Geode Capital Management LLC now owns 168,003 shares of the biopharmaceutical company’s stock valued at $1,137,000 after buying an additional 3,507 shares in the last quarter. Nationwide Fund Advisors raised its position in Ignyta by 18.4% in the second quarter. Nationwide Fund Advisors now owns 32,394 shares of the biopharmaceutical company’s stock valued at $176,000 after buying an additional 5,044 shares in the last quarter. Finally, Alliancebernstein L.P. raised its position in Ignyta by 48.2% in the second quarter. Alliancebernstein L.P. now owns 20,300 shares of the biopharmaceutical company’s stock valued at $110,000 after buying an additional 6,600 shares in the last quarter. 62.39% of the stock is owned by hedge funds and other institutional investors.

Ignyta Company Profile

Ignyta, Inc is an oncology biotechnology company. The Company focuses on an integrated therapeutic (Rx) and companion diagnostic (Dx) strategy for treating cancer patients. Its 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.

5 Day Chart for NASDAQ:RXDX

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