Company shares are trading at $15.60 well above the 50 day moving average which is $12.81 and quite a bit above the 200 day moving average of $9.83. The 50 day moving average went up by +21.77% and the 200 day average went up by +58.71%. Trading volume for Ignyta, Inc. was 9,348K in the last trading session. Volume was up 1,687.60% over the stocks average daily volume.
Investors are more bearish on the company lately if you put credence in the rise in short interest. The stock realized a rise in short interest of 20.70% between September 15, 2017 and September 29, 2017. Short shares grew from 3,334,977 to 4,025,369 over that period. With short interest at 4,025,369 and short average daily volume at 745,219, the short-interest ratio is 5.0 and the percentage of shorted shares was 0.08% on September 29.
A few notable investment firms have updated their holdings. As of quarter end Pointstate Capital Lp had sold 126,100 shares trimming its holdings by 17.9%. The value of the investment in Ignyta, Inc. went from $6,073,000 to $6,004,000 a change of $69,000 since the last quarter. As of the end of the quarter Ubs Group Ag had acquired a total of 66 shares growing its position 7.5%. The value of the company’s investment in Ignyta, Inc. increased from $8,000 to $10,000 a change of 25.0% for the reporting period.
As of the end of the quarter Armistice Capital, LLC had disposed of a total of 486,000 shares trimming its stake by 32.7%. The value of the investment in RXDX went from $12,780,000 to $10,350,000 decreasing 19.0% quarter over quarter. As of quarter end Meeder Asset Management Inc had disposed of 172 shares trimming its holdings by 48.0%. The value of the total investment in Ignyta, Inc. decreased from $4,000 to $2,000 decreasing 50.0% quarter to quarter.
October 12 investment analysts at JP Morgan made no change to the company rating of “Overweight” but raised the price target from $15.00 to $20.00.
In the last earnings report the EPS was $-2.74 and is estimated to be $-2.57 for the current year with 56,253,000 shares outstanding. Next quarter’s EPS is estimated at $-0.57 and the next full year EPS is projected to be $-2.78.
Ignyta, Inc., launched on August 29, 2011, 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 Business’s Rx efforts are focused on in-licensing or acquiring, then developing and commercializing molecularly targeted therapies that, sequentially or in combination, are foundational for eradicating residual disease. The Business’s Dx efforts focus on pairing these product candidates with biomarker-based companion diagnostics that are designed to identify, at the molecular level, the patients most likely to benefit from the therapies it develops. The Business’s pipeline includes various compounds, such as entrectinib, RXDX-105, taladegib and RXDX-106..