MacroGenics (NASDAQ:MGNX) Shares Pass Below 200 Day Moving Average – Should You Sell?

MacroGenics, Inc. (NASDAQ:MGNX) shares 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 trading hands.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on MGNX. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MacroGenics in a report on Monday, December 22nd. Zacks Research cut MacroGenics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 1st. Finally, HC Wainwright reaffirmed a “neutral” rating and set a $2.00 price target on shares of MacroGenics in a research report on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $3.60.

MacroGenics Stock Up 2.3%

The company has a fifty day simple moving average of $1.57 and a 200-day simple moving average of $1.62. The firm has a market cap of $113.87 million, a P/E ratio of -1.50 and a beta of 1.51.

MacroGenics (NASDAQ:MGNX) last posted its quarterly earnings data 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. The firm had revenue of $72.84 million for the quarter, compared to analysts’ expectations of $28.72 million. MacroGenics had a negative return on equity of 98.30% and a negative net margin of 59.46%. As a group, research analysts forecast that MacroGenics, Inc. will post -1.06 EPS for the current year.

Institutional Trading of MacroGenics

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Quadrature Capital Ltd purchased a new position in shares of MacroGenics during the 2nd quarter valued at $26,000. Engineers Gate Manager LP bought a new stake in MacroGenics during the second quarter valued at about $28,000. SG Americas Securities LLC lifted its position in shares of MacroGenics by 55.9% in the third quarter. SG Americas Securities LLC now owns 17,179 shares of the biopharmaceutical company’s stock valued at $29,000 after acquiring an additional 6,161 shares in the last quarter. Walleye Capital LLC bought a new position in shares of MacroGenics in the second quarter worth about $30,000. Finally, Public Employees Retirement System of Ohio boosted its stake in shares of MacroGenics by 261.8% in the second quarter. Public Employees Retirement System of Ohio now owns 25,982 shares of the biopharmaceutical company’s stock worth $31,000 after acquiring an additional 18,800 shares during the period. 96.89% of the stock is owned by hedge funds and other institutional investors.

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.