Today’s Stock On Watch: Is Selling Ignyta Inc Here a Winning Strategy?

Today's Stock On Watch: Is Selling Ignyta Inc Here a Winning Strategy?

The stock of Ignyta Inc (NASDAQ:RXDX) hit a new 52-week low and has $3.93 target or 14.00% below today’s $4.57 share price. The 9 months bearish chart indicates high risk for the $190.56 million company. The 1-year low was reported on Nov, 3 by Barchart.com. If the $3.93 price target is reached, the company will be worth $26.68 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 229,365 shares traded hands or 79.92% up from the average. Ignyta Inc (NASDAQ:RXDX) has declined 33.57% since April 1, 2016 and is downtrending. It has underperformed by 34.79% the S&P500.

Analysts await Ignyta Inc (NASDAQ:RXDX) to report earnings on November, 14. They expect $-0.66 earnings per share, down 34.69% or $0.17 from last year’s $-0.49 per share. After $-0.68 actual earnings per share reported by Ignyta Inc for the previous quarter, Wall Street now forecasts -2.94% EPS growth.

Ignyta Inc (NASDAQ:RXDX) Ratings Coverage

Out of 6 analysts covering Ignyta (NASDAQ:RXDX), 6 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Ignyta has been the topic of 10 analyst reports since August 12, 2015 according to StockzIntelligence Inc. The rating was maintained by Credit Suisse on Tuesday, March 15 with “Outperform”. The stock has “Outperform” rating given by Credit Suisse on Thursday, January 21. The firm earned “Overweight” rating on Wednesday, August 12 by Piper Jaffray. As per Monday, October 26, the company rating was initiated by Cantor Fitzgerald. The stock of Ignyta Inc (NASDAQ:RXDX) has “Buy” rating given on Tuesday, November 10 by Cantor Fitzgerald. On Thursday, June 23 the stock rating was initiated by JP Morgan with “Overweight”. The firm has “Buy” rating by Jefferies given on Friday, October 23. The firm has “Buy” rating given on Monday, October 26 by Canaccord Genuity.

According to Zacks Investment Research, “Ignyta, Inc. is a biotechnology company. It develops precision medicine with integrated Rx/Dx solutions for cancer patients. The company focuses on the development of RXDX-101, its proprietary oral tyrosine kinase inhibitor that targets solid tumor indications, and advancing its novel Spark discovery programs that leverage its proprietary cancer genomic and epigenomic knowledge bases. Ignyta, Inc. is based in San Diego, California.”

Insitutional Activity: The institutional sentiment increased to 2.87 in Q2 2016. Its up 1.47, from 1.4 in 2016Q1. The ratio improved, as 6 funds sold all Ignyta Inc shares owned while 9 reduced positions. 11 funds bought stakes while 32 increased positions. They now own 24.37 million shares or 38.14% more from 17.64 million shares in 2016Q1.
Moreover, Bancorp Of America Corp De has 0% invested in Ignyta Inc (NASDAQ:RXDX) for 3,306 shares. Legal And General Grp Public Ltd Company holds 2,975 shares or 0% of its portfolio. D E Shaw & Inc has 0% invested in the company for 24,867 shares. Millennium Management Llc holds 0% of its portfolio in Ignyta Inc (NASDAQ:RXDX) for 314,412 shares. American Interest Gp has 16,969 shares for 0% of their US portfolio. Blackrock Japan Limited has 1,754 shares for 0% of their US portfolio. Voya Mgmt Limited Liability has 14,152 shares for 0% of their US portfolio. Broadfin accumulated 1.19% or 2.26 million shares. Blackrock Investment Limited Liability has 0% invested in the company for 115,676 shares. Moreover, Endurant Mgmt L P has 0.04% invested in Ignyta Inc (NASDAQ:RXDX) for 20,200 shares. Ardsley Advisory Prtn last reported 10,000 shares in the company. Tiaa Cref Limited Liability Co holds 0% of its portfolio in Ignyta Inc (NASDAQ:RXDX) for 127,641 shares. Perceptive Advsr Ltd Llc, a New York-based fund reported 435,260 shares. Bank Of New York Mellon has invested 0% of its portfolio in Ignyta Inc (NASDAQ:RXDX). Blackrock Fund, a California-based fund reported 758,468 shares.

More notable recent Ignyta Inc (NASDAQ:RXDX) news were published by: Marketwatch.com which released: “Virtual Stock Exchange” on December 06, 2013, also Fool.com with their article: “Why Ignyta Inc. Shares Are Skyrocketing Higher” published on June 01, 2015, Businesswire.com published: “Ignyta Announces Initiation of STARTRK “Next Generation” Phase 1/1b Pediatric …” on December 09, 2015. More interesting news about Ignyta Inc (NASDAQ:RXDX) were released by: Seekingalpha.com and their article: “It’s Time To Invest In Cancer Biotech Ignyta” published on October 27, 2016 as well as Seekingalpha.com‘s news article titled: “Ignyta Is Proof That Biotech Bargains Still Exist” with publication date: August 31, 2016.

RXDX Company Profile

Prometheus RxDx Corp., incorporated in June 2009, is a wholly owned subsidiary of Prometheus Laboratories Inc. The Firm is engaged in the development and commercialization of pharmaceutical and diagnostic products that enable physicians to provide individualized patient care. It focuses on the detection, diagnosis and treatment of disorders within the fields of gastroenterology and oncology. It operates in two divisions: the pharmaceutical products segment that markets and sells prescription drugs, and the diagnostic testing services segment, which includes specific immunoassays to detect and differentiate diseases, pharmacogenetic testing and drug metabolite monitoring. The pharmaceutical products for gastrointestinal diseases and disorders includes ENTOCORT EC (budesonide) Capsules, which is indicated for the treatment of mild to moderate active Crohn’s disease involving the ileum and/or the ascending colon, and LOTRONEX (alosetron hydrochloride) Tablets, for use in female patients with severe diarrhea-predominant irritable bowel syndrome (IBS).

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