Ignyta Inc. (NASDAQ:RXDX) : Checking the Books and Data


Shares of Ignyta, Inc. (NASDAQ:RXDX) are currently poised at -14.63% from the open today and are trading at $7.00. More than 701,471 shares have exchanged hands compared to an average trading volume of 362.14K. At the current pps, the market cap stands at $348.39M. The stock prices of Ignyta, Inc. (NASDAQ:RXDX) are currently trading at -29.29% below its 52 week high and 68.67% above its 52 week low.

Ignyta, Inc. (NASDAQ:RXDX) has been in the news for all the right reasons. Recently, Ignyta, Inc. (NASDAQ:RXDX) announced ompany highlights and financial results for the first quarter ended March 31, 2017. The company is issuing this press release in lieu of conducting a conference call.

Ignyta, Inc. (NASDAQ:RXDX) is all set to announce its earnings on Apr 27/a. As per Zack’s analyst ratings, Ignyta, Inc. (NASDAQ:RXDX) currently has an average brokerage rating of 1. On a scale of 1 to 5, a rating of 1 or 2 would indicate a buy, and a rating of 4 or 5 would signify a sell recommendation. A rating of 3 would indicate a hold on the stock. The consensus target price on (NASDAQ:RXDX) is $19 with a high of $20 and a low of $17.

Let’s take a look at the technical analysis.

The Barchart Technical Opinion rating is a 72% Sell with a Strengthening short term outlook on maintaining the current direction. Longer term, the trend strength is Average. Long term indicators mostly agree with the trend.

The Exponential Moving Average (EMA) is similar to a simple moving average (average price over a set period) but it utilizes a weighting factor that exponentially declines from the most recent data point (recent prices are weighted higher than oil prices). EMA analysis compares the short term (5 days and 13 days), intermediate term (20 days) and long term (50 days) EMA’s. The respective EMA’s will give bullish signals when trading above trailing EMA’s and below the current price and vice versa. EMA alerts include crossovers (i.e the 5 day EMA crosses above/below the 20 day EMA) and EMA convergencies (5 day EMA equivalent to 13 day EMA). Currently, the 5 day EMA 8.68 is higher than the last trade price suggesting a short term bearish pattern building up. Long term, the 50 day EMA 8.21 is lower than current trading price depicting a bullish signal.

The relative strength index (RSI) is a momentum oscillator that is able to measure the velocity and magnitude of stock price changes. Momentum is calculated as the ratio of positive price changes to negative price changes. The RSI analysis compares the current RSI against neutral(50), oversold (30) and overbought (70) conditions. Alerts will inform you when stocks recede from oversold/overbought levels or breakthrough neutral (50). The current RSI is 49.75 suggesting a bearish price action.

As such, while we believe Ignyta, Inc. (NASDAQ:RXDX) represents a compelling growth story exposed to several secularly attractive markets, it would be interesting to see how it fairs for long-term investors.

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.