American International Group Inc. raised its stake in Ignyta Inc (NASDAQ:RXDX) by 18.4% in the 4th quarter, HoldingsChannel reports. The fund owned 39,667 shares of the biopharmaceutical company’s stock after purchasing an additional 6,163 shares during the period. American International Group Inc.’s holdings in Ignyta were worth $1,059,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Trexquant Investment LP acquired a new position in Ignyta in the third quarter valued at $152,000. IFP Advisors Inc boosted its stake in Ignyta by 62.4% in the fourth quarter. IFP Advisors Inc now owns 12,743 shares of the biopharmaceutical company’s stock valued at $340,000 after acquiring an additional 4,898 shares in the last quarter. Teacher Retirement System of Texas acquired a new position in Ignyta in the fourth quarter valued at $357,000. LMR Partners LLP acquired a new position in Ignyta in the third quarter valued at $169,000. Finally, Pillar Pacific Capital Management LLC acquired a new position in Ignyta in the fourth quarter valued at $437,000. Institutional investors own 72.28% of the company’s stock.
Several equities analysts have issued reports on RXDX shares. Cantor Fitzgerald set a $23.00 price objective on shares of Ignyta and gave the company a “buy” rating in a research note on Friday, December 22nd. SunTrust Banks initiated coverage on shares of Ignyta in a research note on Monday, November 20th. They issued a “buy” rating for the company. Zacks Investment Research upgraded shares of Ignyta from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a research note on Tuesday, November 14th. Jefferies Group downgraded shares of Ignyta from a “buy” rating to a “hold” rating and set a $27.00 target price for the company. in a research note on Thursday, December 28th. Finally, ValuEngine upgraded shares of Ignyta from a “sell” rating to a “hold” rating in a research note on Friday, February 2nd. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $27.00.
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Ignyta Company Profile
Ignyta, Inc 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 Company’s pipeline includes various compounds, such as entrectinib, RXDX-105, taladegib and RXDX-106.
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