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.