Orexigen Therapeutics Inc. (OREX) lost ground during morning trading on September 22 to make it one of the worst performers amongst all NYSE and NASDAQ listed stocks in the health care sector halfway through the trading day. At the lunch break, shares of OREX have fallen 3.87% to $3.48 after closing the day prior at $3.62. So far, the stock has traded as high as $3.65 and as low as $3.4. Today’s decline has come with about 144,175 shares changing hands, compared to an average 30-day volume of 155,755 for Orexigen Therapeutics Inc.. The price is currently below the 30-day volume weighted average price of $3.49 for OREX.
The share depreciation gives the company a market capitalization of $52.8 million based upon 14.59 million shares outstanding. It also means that OREX has a price-to-book ratio of 4.49:1.
In the past 52 weeks, shares of OREX have traded as low as $3.18 and as high as $34.4. Technical traders will take note that at $3.48, shares of OREX are trading below their 200-day MA at $8.11 and below their 50-day MA at $3.77. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding below them is typically regarded as bearish.
Who is OREX?
Orexigen Therapeutics Inc is a biopharmaceutical company. The Company is engaged in development of pharmaceutical product candidates for the treatment of obesity. Its product candidate includes NB32 and Empatic. The company’s 67 employees are led by CEO Michael A. Narachi from the corporate headquarters at 3344 North Torrey Pines Court in La Jolla, CA.
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