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

MacroGenics, Inc. (NASDAQ:MGNX)’s stock price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.62 and traded as low as $1.6150. MacroGenics shares last traded at $1.76, with a volume of 2,949,083 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts have weighed in on MGNX shares. HC Wainwright restated a “neutral” rating and set a $2.00 target price on shares of MacroGenics in a report on Monday, November 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of MacroGenics in a research report on Monday, December 22nd. Finally, Zacks Research cut MacroGenics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 1st. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $3.60.

MacroGenics Stock Performance

The stock has a market cap of $111.34 million, a PE ratio of -1.47 and a beta of 1.51. The firm has a fifty day moving average price of $1.56 and a 200 day moving average price of $1.62.

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

Institutional Trading of MacroGenics

Several large investors have recently bought and sold shares of MGNX. Vanguard Group Inc. increased its stake in MacroGenics by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 4,224,234 shares of the biopharmaceutical company’s stock valued at $7,097,000 after purchasing an additional 11,120 shares in the last quarter. Acadian Asset Management LLC increased its position in shares of MacroGenics by 7.9% in the 2nd quarter. Acadian Asset Management LLC now owns 2,491,703 shares of the biopharmaceutical company’s stock valued at $3,008,000 after acquiring an additional 183,054 shares during the period. Millennium Management LLC raised its stake in MacroGenics by 5.0% in the 3rd quarter. Millennium Management LLC now owns 2,116,870 shares of the biopharmaceutical company’s stock worth $3,556,000 after acquiring an additional 101,006 shares during the last quarter. EcoR1 Capital LLC acquired a new stake in MacroGenics during the 2nd quarter worth about $1,939,000. Finally, Jane Street Group LLC grew its stake in MacroGenics by 207.7% during the 2nd quarter. Jane Street Group LLC now owns 758,204 shares of the biopharmaceutical company’s stock valued at $917,000 after purchasing an additional 511,777 shares during the last quarter. Hedge funds and other institutional investors own 96.89% of the company’s stock.

About MacroGenics

MacroGenics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of monoclonal antibody–based therapeutics for the treatment of cancer and autoimmune diseases. The company leverages proprietary Fc engineering technologies to enhance immune engagement and extend the activity of its antibodies. Since its founding in 2000, MacroGenics has advanced several product candidates through clinical trials, most notably margetuximab, a HER2-targeted antibody designed to improve outcomes in patients with HER2-positive breast cancer.

Central to MacroGenics’ research platform are its ADAPTIR and Trident bispecific antibody technologies.