Ignyta, Inc. (NASDAQ:RXDX) Stock Traded 20.2% Above Its 50 Day Average


Shares of the company are trading at $12.25 which is quite a bit above the 50 day moving average which is $10.19 and which is significantly above the 200 day moving average of $8.96. The 50 day moving average moved up $2.06 and the 200 day average went up $3.29 or +36.69%. Trading was heavy with 738K shares changing hands on Wednesday. Trading volume was up 41.17% over the stocks average daily volume.

Traders are feeling more bullish on the company lately as implied by the downtick in short interest. The company had a fall in short interest of -11.76% as of the latest report on August 31, 2017. Short shares decreased from 3,028,342 to 2,672,207 over that timeframe. The short-interest ratio decreased to 4.0 and the percentage of shorted shares is 0.05% as of August 31.

Here are a few substantial investment firms who have updated their positions. As of the end of the quarter Armistice Capital, LLC had disposed of 486,000 shares trimming its stake by 32.7%. The value of the investment in RXDX decreased from $12,780,000 to $10,350,000 a change of 19.0% quarter to quarter. As of quarter end Ubs Group Ag had bought a total of 66 shares growing its position 7.5%. The value of the investment in (RXDX) went from $8,000 to $10,000 a change of $2,000 for the reporting period.

Pointstate Capital Lp reduced its position by shedding 126,100 shares a decrease of 17.9% as of 06/30/2017. Pointstate Capital Lp owns 580,100 shares worth $6,004,000. The total value of its holdings decreased 1.1%. As of quarter end Lombard Odier Asset Management (usa) Corp had bought a total of 175,000 shares growing its holdings by 43.8%. The value in dollars went from $3,440,000 to $5,951,000 increasing 73.0% quarter over quarter.

In the latest earnings report the EPS was $-2.74 and is estimated to be $-2.57 for the current year with 56,253,000 shares now outstanding. Analysts expect next quarter’s EPS will be $-0.57 and the next full year EPS is anticipated 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..