MacroGenics (NASDAQ:MGNX) Stock Crosses Below 200 Day Moving Average – Time to Sell?

MacroGenics, Inc. (NASDAQ:MGNX)’s stock price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.58 and traded as low as $1.37. MacroGenics shares last traded at $1.40, with a volume of 2,133,862 shares traded.

Analysts Set New Price Targets

Several brokerages have recently issued reports on MGNX. HC Wainwright reissued a “neutral” rating and set a $2.00 price target on shares of MacroGenics in a research report on Monday, November 3rd. Leerink Partners reduced their target price on shares of MacroGenics from $8.00 to $5.00 and set an “outperform” rating on the stock in a report on Friday, August 15th. Barclays started coverage on shares of MacroGenics in a research note on Wednesday, September 17th. They issued an “overweight” rating and a $3.00 price target for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MacroGenics in a research report on Monday. Finally, Zacks Research upgraded MacroGenics from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 13th. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, MacroGenics has an average rating of “Moderate Buy” and an average target price of $3.60.

MacroGenics Stock Performance

The stock’s 50-day simple moving average is $1.61 and its 200 day simple moving average is $1.58. The company has a market capitalization of $88.56 million, a PE ratio of -1.17 and a beta of 1.52.

MacroGenics (NASDAQ:MGNX) last issued its earnings results on Wednesday, November 12th. The biopharmaceutical company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.75. The firm had revenue of $72.84 million during the quarter, compared to the consensus estimate of $28.72 million. MacroGenics had a negative net margin of 59.46% and a negative return on equity of 98.30%. On average, analysts expect that MacroGenics, Inc. will post -1.06 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC raised its position in shares of MacroGenics by 55.9% during the 3rd quarter. SG Americas Securities LLC now owns 17,179 shares of the biopharmaceutical company’s stock worth $29,000 after acquiring an additional 6,161 shares in the last quarter. Cresset Asset Management LLC increased its stake in MacroGenics by 52.3% in the second quarter. Cresset Asset Management LLC now owns 26,720 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 9,172 shares during the last quarter. State of Wyoming raised its holdings in MacroGenics by 41.8% during the second quarter. State of Wyoming now owns 31,557 shares of the biopharmaceutical company’s stock worth $38,000 after purchasing an additional 9,295 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of MacroGenics by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 4,224,234 shares of the biopharmaceutical company’s stock worth $7,097,000 after buying an additional 11,120 shares during the last quarter. Finally, XML Financial LLC boosted its holdings in shares of MacroGenics by 68.7% in the 2nd quarter. XML Financial LLC now owns 32,336 shares of the biopharmaceutical company’s stock valued at $39,000 after buying an additional 13,167 shares in the last quarter. Hedge funds and other institutional investors own 96.89% of the company’s stock.

MacroGenics Company Profile

MacroGenics, Inc, a biopharmaceutical company, develops, manufactures, and commercializes antibody-based therapeutics to treat cancer in the United States. Its approved product is MARGENZA (margetuximab-cmkb), a human epidermal growth factor receptor 2 (HER2) receptor antagonist indicated, in combination with chemotherapy, for the treatment of adult patients with metastatic HER2-positive breast cancer who have received two or more prior anti-HER2 regimens.