Ignyta Inc (RXDX) is Initiated by JP Morgan to Overweight, Price Target at $15

Ignyta Inc (RXDX) was Initiated by JP Morgan to “Overweight” and the brokerage firm has set the Price Target at $15. JP Morgan advised their investors in a research report released on Jun 23, 2016.

Ignyta Inc opened for trading at $5.04 and hit $5.26 on the upside on Tuesday, eventually ending the session at $5.13, with a gain of 1.99% or 0.1 points. The heightened volatility saw the trading volume jump to 7,63,899 shares. Company has a market cap of $214 M.

In a different news, on May 4, 2016, Alexander W. Casdin (director) purchased 232,000 shares at $6.25 per share price. According to the SEC, on Mar 21, 2016, Jonathan E Lim (CEO) purchased 24,852 shares at $5.51 per share price. On Mar 21, 2016, Jacob Chacko (CFO) purchased 10,000 shares at $5.64 per share price, according to the Form-4 filing with the securities and exchange commission.

Ignyta Inc. is a development-stage biopharmaceutical company. The Company is focused on discovering or acquiring then developing and commercializing targeted drugs for cancer patients whose tumors harbor specific molecular alterations. As of March 7 2014 its development plans were focused on two product candidates: RXDX-101 and RXDX-102. The Company also has three discovery-stage programs Spark-1 Spark-2 and Spark-3 directed to oncology targets identified through mining of its database of information from tumor samples called Oncolome. On October 31 2013 IGAS Acquisition Corp a wholly owned subsidiary of the Company merged with and into Ignyta Operating Inc. (Ignyta Operating) and Ignyta Operating survived the merger and became the wholly owned subsidiary of the Company.

Ignyta Inc

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