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Shares of Ignyta Inc Rise to a New 52-Week High

By Nick Russo

Ignyta Inc (NASDAQ:RXDX) traded at a new 52-week high today of $12.45. This new high was reached on approximately average trading volume as 284,000 shares traded hands, while the average 30-day volume is approximately 400,000 shares.

In the past 52 weeks, Ignyta Inc share prices have been bracketed by a low of $4.15 and a high of $12.45 and are now at $12.00, 189% above that low price. Over the past week, the 200-day moving average (MA) has gone down 1.5% while the 50-day MA has advanced 0.2%.

Ignyta, Inc. operates as a pharmaceutical company. The Company discovers, acquires, and develops new drugs for cancer patients whose tumors harbor specific molecular alterations. Ignyta serves clients in the United States.

Potential upside of 70.8% exists for Ignyta Inc, based on a current level of $12.00 and analysts' average consensus price target of $20.50. The stock should discover initial support at its 200-day moving average (MA) of $10.86 and subsequent support at its 50-day MA of $7.08.

SmarTrend recommended that subscribers consider buying shares of Ignyta Inc on June 13th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $8.25. Since that recommendation, shares of Ignyta Inc have risen 42.4%. We continue to monitor RXDX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows ignyta inc

Ticker(s): RXDX