MacroGenics (NASDAQ:MGNX) Shares Pass Above 50 Day Moving Average – Should You Sell?

MacroGenics, Inc. (NASDAQ:MGNX)’s share price crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $1.53 and traded as high as $1.6299. MacroGenics shares last traded at $1.6050, with a volume of 566,485 shares.

Analysts Set New Price Targets

A number of research analysts recently issued reports on MGNX shares. Barclays started coverage on MacroGenics in a research report on Wednesday, September 17th. They set an “overweight” rating and a $3.00 price objective for the company. HC Wainwright reissued a “neutral” rating and set a $2.00 price target on shares of MacroGenics in a report on Monday, November 3rd. Zacks Research raised shares of MacroGenics from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 13th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of MacroGenics in a research report on Monday, December 22nd. Two research 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. According to MarketBeat, MacroGenics has a consensus rating of “Moderate Buy” and an average target price of $3.60.

MacroGenics Stock Down 0.3%

The company has a market cap of $101.53 million, a P/E ratio of -1.34 and a beta of 1.52. The company has a 50 day moving average price of $1.53 and a 200-day moving average price of $1.57.

MacroGenics (NASDAQ:MGNX) last issued 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 business had revenue of $72.84 million for the quarter, compared to analysts’ expectations of $28.72 million. MacroGenics had a negative net margin of 59.46% and a negative return on equity of 98.30%. On average, research analysts expect that MacroGenics, Inc. will post -1.06 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Quadrature Capital Ltd acquired a new position in shares of MacroGenics during the second quarter valued at approximately $26,000. State of Wyoming bought a new position in MacroGenics during the 1st quarter valued at $28,000. Engineers Gate Manager LP acquired a new position in shares of MacroGenics during the 2nd quarter valued at $28,000. SG Americas Securities LLC lifted its holdings 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 buying an additional 6,161 shares during the period. Finally, Walleye Capital LLC bought a new position in MacroGenics during the second quarter valued at about $30,000. 96.89% of the stock is currently owned by institutional investors.

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.