MacroGenics (NASDAQ:MGNX) Shares Pass Above 50-Day Moving Average – What’s Next?

Shares of MacroGenics, Inc. (NASDAQ:MGNX) passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $3.53 and traded as high as $4.30. MacroGenics shares last traded at $4.20, with a volume of 627,222 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. B. Riley Financial raised MacroGenics from a “neutral” rating to a “buy” rating and raised their target price for the company from $3.00 to $9.00 in a report on Friday, April 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of MacroGenics in a report on Friday, May 8th. Barclays raised their price objective on MacroGenics from $4.00 to $6.00 and gave the company an “overweight” rating in a report on Monday, April 20th. Wall Street Zen raised MacroGenics from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. Finally, Citigroup reissued a “market perform” rating on shares of MacroGenics in a report on Tuesday, February 24th. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $5.50.

MacroGenics Trading Up 3.7%

The company has a 50-day moving average price of $3.53 and a two-hundred day moving average price of $2.43. The stock has a market capitalization of $266.95 million, a P/E ratio of -3.82 and a beta of 1.18.

MacroGenics (NASDAQ:MGNX) last posted its quarterly earnings data on Wednesday, May 13th. The biopharmaceutical company reported ($0.58) earnings per share for the quarter, missing the consensus estimate of ($0.57) by ($0.01). The business had revenue of $20.78 million during the quarter, compared to the consensus estimate of $15.24 million. MacroGenics had a negative return on equity of 147.80% and a negative net margin of 44.79%. Research analysts forecast that MacroGenics, Inc. will post -1.58 earnings per share for the current year.

Institutional Trading of MacroGenics

Several large investors have recently made changes to their positions in MGNX. R Squared Ltd bought a new stake in MacroGenics during the 4th quarter worth approximately $26,000. Engineers Gate Manager LP bought a new stake in MacroGenics during the 2nd quarter worth approximately $28,000. Walleye Capital LLC bought a new stake in MacroGenics during the 2nd quarter worth approximately $30,000. Cresset Asset Management LLC increased its holdings in MacroGenics by 52.3% during the 2nd quarter. Cresset Asset Management LLC now owns 26,720 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 9,172 shares in the last quarter. Finally, Rangeley Capital LLC bought a new stake in MacroGenics during the 2nd quarter worth approximately $33,000. 96.89% of the stock is currently owned by institutional investors and hedge funds.

MacroGenics Company Profile

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.