Ignyta Inc (RXDX) was Reiterated by Piper Jaffray to “Overweight” while Lowering the Price Target of the company shares to $ 20 from a previous price target of $32 . Piper Jaffray advised their investors in a research report released on Aug 10, 2016.
Many Wall Street Analysts have commented on Ignyta Inc. JP Morgan Initiated Ignyta Inc on Jun 23, 2016 to “Overweight”, Price Target of the shares are set at $15.
Ignyta Inc closed down -0.18 points or -3.02% at $5.78 with 1,19,828 shares getting traded on Monday. Post opening the session at $5.96, the shares hit an intraday low of $5.7 and an intraday high of $6.21 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
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.