MacroGenics (NASDAQ:MGNX) Stock Crosses Below 200-Day Moving Average – Should You Sell?

MacroGenics, Inc. (NASDAQ:MGNX) 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.

Analysts Set New Price Targets

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

MacroGenics Trading Up 1.1%

The company has a market capitalization of $111.34 million, a PE ratio of -1.47 and a beta of 1.51. The stock’s 50-day moving average is $1.56 and its two-hundred day moving average is $1.62.

MacroGenics (NASDAQ:MGNX) last released its earnings results on Wednesday, November 12th. The biopharmaceutical company reported $0.27 EPS 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 firm had revenue of $72.84 million for the quarter, compared to analysts’ expectations of $28.72 million. On average, equities research analysts forecast that MacroGenics, Inc. will post -1.06 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC lifted its holdings in MacroGenics by 55.9% during the 3rd 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 in the last quarter. Cresset Asset Management LLC grew its stake in MacroGenics by 52.3% in the second 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. State of Wyoming increased its holdings in MacroGenics by 41.8% during the 2nd quarter. State of Wyoming now owns 31,557 shares of the biopharmaceutical company’s stock worth $38,000 after purchasing an additional 9,295 shares during the period. Vanguard Group Inc. lifted its holdings in shares of MacroGenics by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 4,224,234 shares of the biopharmaceutical company’s stock worth $7,097,000 after buying an additional 11,120 shares during the period. Finally, XML Financial LLC increased its stake in shares of MacroGenics by 68.7% during the second quarter. XML Financial LLC now owns 32,336 shares of the biopharmaceutical company’s stock valued at $39,000 after buying an additional 13,167 shares during the period. 96.89% of the stock is currently owned by 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.