MacroGenics (NASDAQ:MGNX) Share Price Crosses Above Fifty Day Moving Average - Time to Sell?

Key Points

• MacroGenics shares crossed above their 50-day moving average ($2.07), trading as high as $3.01 and last at $2.92 on Monday with notable volume (797,090 shares).
• Analysts are mixed but the consensus is a Hold with a consensus target of $3.80; Barclays raised its target to $4 (overweight) while some firms, including Weiss, remain negative.
• MacroGenics beat quarterly estimates with EPS of ($0.22) and revenue of $41.23M, but it remains unprofitable (negative ROE and net margin) and analysts forecast about -1.06 EPS for the year.

Shares of MacroGenics, Inc. (NASDAQ:MGNX - Get Free Report) passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $2.07 and traded as high as $3.01. MacroGenics shares last traded at $2.92, with a volume of 797,090 shares changing hands.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Zacks Research downgraded shares of MacroGenics from a "strong-buy" rating to a "hold" rating in a research report on Thursday, January 1st. Wall Street Zen raised MacroGenics from a "sell" rating to a "hold" rating in a research report on Saturday, March 14th. Barclays upped their price target on MacroGenics from $3.00 to $4.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 10th. Citigroup reissued a "market perform" rating on shares of MacroGenics in a research note on Tuesday, February 24th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of MacroGenics in a report on Monday, December 22nd. Two research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $3.80.

MacroGenics Stock Performance

The stock has a market cap of $185.60 million, a price-to-earnings ratio of -2.50 and a beta of 1.45. The stock's 50-day simple moving average is $2.07 and its two-hundred day simple moving average is $1.77.

MacroGenics (NASDAQ:MGNX - Get Free Report) last issued its quarterly earnings results on Monday, March 9th. The biopharmaceutical company reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.42) by $0.20. The company had revenue of $41.23 million for the quarter, compared to the consensus estimate of $27.81 million. MacroGenics had a negative return on equity of 120.19% and a negative net margin of 49.91%. As a group, research analysts predict that MacroGenics, Inc. will post -1.06 earnings per share for the current year.

Institutional Trading of MacroGenics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC lifted its holdings in shares of MacroGenics by 55.9% during the third quarter. SG Americas Securities LLC now owns 17,179 shares of the biopharmaceutical company's stock worth $29,000 after buying an additional 6,161 shares during the last quarter. Walleye Capital LLC grew its stake in shares of MacroGenics by 31.8% in the fourth quarter. Walleye Capital LLC now owns 33,180 shares of the biopharmaceutical company's stock worth $53,000 after acquiring an additional 8,000 shares during the last quarter. Cresset Asset Management LLC grew its stake in shares of 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 acquiring an additional 9,172 shares during the last quarter. State of Wyoming increased its position in MacroGenics by 41.8% during the second quarter. State of Wyoming now owns 31,557 shares of the biopharmaceutical company's stock worth $38,000 after acquiring an additional 9,295 shares during the period. Finally, Vanguard Group Inc. increased its position in MacroGenics by 0.3% during the third quarter. Vanguard Group Inc. now owns 4,224,234 shares of the biopharmaceutical company's stock worth $7,097,000 after acquiring an additional 11,120 shares during the period. Institutional investors and hedge funds own 96.89% of the company's stock.

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.

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