(NASDAQ:RXDX) shares saw heavy trading volume with 1,252K shares changing hands by the end of trading on Friday. Overall, volume was up 139.51% over the stocks normal daily volume.
Investors are feeling more bullish on Ignyta, Inc. as inferred by the change in short interest. The company saw a fall in short interest of -11.76% as of the latest report on August 31, 2017. Short interest decreased from 3,028,342 to 2,672,207 over that timeframe. Days to cover decreased -2.0 to 4.0 and the percentage of shorted shares is 0.05% as of August 31.
These funds have shifted positions in (RXDX). As of quarter end Lombard Odier Asset Management (usa) Corp had bought 175,000 shares growing its stake by 43.8%. The value of the company’s investment in Ignyta, Inc. went from $3,440,000 to $5,951,000 a change of $2,511,000 since the last quarter. As of the end of the quarter Pointstate Capital Lp had disposed of a total of 126,100 shares trimming its position 17.9%. The value of the investment in RXDX decreased from $6,073,000 to $6,004,000 a change of 1.1% quarter over quarter.
Ubs Group Ag added to its holdings by buying 66 shares an increase of 7.5%. Ubs Group Ag claims 942 shares worth $10,000. The value of the position overall is up by 25.0%. Armistice Capital, LLC divested its position by selling 486,000 shares a decrease of 32.7% in the quarter. Armistice Capital, LLC currently owns 1,000,000 shares valued at $10,350,000. The total value of its holdings decreased 19.0%.
The company is trading down from yesterday’s close of 12.4. It is trading at $12.15 which is impressively higher than the 50 day moving average of $10.19 and a great deal higher than the 200 day moving average of $8.96. The 50 day moving average was up $1.96 whereas the 200 day moving average was up $3.19 or +35.58%.
As of the latest earnings report the EPS was $-2.74 and is projected to be $-2.57 for the current year with 56,253,000 shares outstanding. Next quarter’s EPS is forecasted 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..