MacroGenics (NASDAQ:MGNX) Shares Cross Below 200-Day Moving Average – Here’s What Happened

MacroGenics, Inc. (NASDAQ:MGNX) shares passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.57 and traded as low as $1.3910. MacroGenics shares last traded at $1.41, with a volume of 1,049,163 shares changing hands.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Zacks Research upgraded shares of MacroGenics from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 13th. HC Wainwright reiterated a “neutral” rating and issued a $2.00 price objective on shares of MacroGenics in a report on Monday, November 3rd. Leerink Partners decreased their price objective on shares of MacroGenics from $8.00 to $5.00 and set an “outperform” rating for the company in a research report on Friday, August 15th. Barclays started coverage on MacroGenics in a research report on Wednesday, September 17th. They set an “overweight” rating and a $3.00 target price on the stock. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of MacroGenics in a research note on Monday, December 8th. 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 given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $3.60.

MacroGenics Stock Down 0.7%

The company has a 50 day simple moving average of $1.57 and a 200-day simple moving average of $1.57. The stock has a market cap of $88.56 million, a price-to-earnings ratio of -1.17 and a beta of 1.52.

MacroGenics (NASDAQ:MGNX) last issued its quarterly earnings results on Wednesday, November 12th. The biopharmaceutical company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $72.84 million during the quarter, compared to the consensus estimate of $28.72 million. On average, equities research analysts expect that MacroGenics, Inc. will post -1.06 EPS for the current fiscal year.

Institutional Investors Weigh In On MacroGenics

A number of institutional investors have recently modified their holdings of MGNX. Cantor Fitzgerald L. P. acquired a new stake in MacroGenics during the third quarter worth about $269,000. Voleon Capital Management LP bought a new position in shares of MacroGenics during the third quarter valued at approximately $516,000. Qube Research & Technologies Ltd acquired a new stake in shares of MacroGenics during the 3rd quarter worth approximately $38,000. Public Employees Retirement System of Ohio lifted its holdings in shares of MacroGenics by 63.1% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 42,382 shares of the biopharmaceutical company’s stock worth $71,000 after purchasing an additional 16,400 shares during the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of 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 purchasing an additional 101,006 shares during the last quarter. Institutional investors own 96.89% of the company’s stock.

About MacroGenics

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.