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Ignyta Inc. (RXDX): Great Point Partners Reports New Stake

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In a recent 13G filing with the US SECJeffrey Jay and David Kroin‘s Great Point Partners reported the acquisition of 2.05 million shares of  Ignyta Inc. (NASDAQ:RXDX), which account for 4.94% percent of the total amount of shares, and represent a new addition to the Great Point Partners’ portfolio. Investors usually file Schedule 13G or 13D when their ownership exceeds 5% of class and in its latest filing, Great Point added that on April 29, its ownership was above 5%, but due to the exercise of an underwriter’s option to purchase shares, the stake accounted for less than 5% of Ignyta’s common stock.

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Ignyta is a biotechnology company that works on developing new therapies for the patients suffering from various types of cancer. Since the beginning of the year, Ignyta’s stock has lost 34.47%. The company is scheduled to release its earnings later today, after the market closes, and it is estimated that it will report a loss per share of $0.83 for the quarter.

At the end of December, Ignyta (NASDAQ:RXDX) was in 15 hedge fund portfolios from our database, versus 12 hedge funds in a previous quarter. Kevin Kotler’s Broadfin Capital reported the biggest position in Ignyta (NASDAQ:RXDX), valued at $30.2 million, and Joseph Edelman’s Perceptive Advisors held the second biggest position, worth around $24.3 million. Other investors long the stock are Israel Englander’s Millennium Management, Steven Boyd’s Armistice Capital and Alan Frazier’s Frazier Healthcare Partners,  Michael S. Weiss and Lindsay A. Rosenwald’s Opus Point Partners Management, David Lamond’s Lamond Capital Partners and Steve Cohen’s Point72 Asset Management.

You can access the original SEC filing by clicking here.

Ownership Summary Table

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
Great Point Partners 0 2,050,000 0 2,050,000 2,050,000 4.94%
Dr. Jeffrey R. Jay, M.D 0 2,050,000 0 2,050,000 2,050,000 4.94%
Mr. David Kroin 0 2,050,000 0 2,050,000 2,050,000 4.94%

Jeffrey Jay And David Kroin
Jeffrey Jay And David Kroin
Great Point Partners

Page 1 of 10 – SEC Filing

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

 

Schedule 13G

 

Under the Securities Exchange Act of
1934

(Amendment No.    )*

Ignyta, Inc.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

451731103

(CUSIP Number)

April 29, 2016

(Date of Event which Requires Filing of this
Statement)

Check the appropriate box to designate the rule
pursuant to which this Schedule is filed:

o Rule 13d-1(b)
x Rule 13d-1(c)
o Rule 13d-1(d)

*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.

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