MacroGenics (NASDAQ:MGNX) Share Price Passes Below Two Hundred Day Moving Average - Should You Sell?

MacroGenics, Inc. (NASDAQ:MGNX - Get Free Report) shares crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $2.06 and traded as low as $1.34. MacroGenics shares last traded at $1.36, with a volume of 533,521 shares changing hands.

Analysts Set New Price Targets

MGNX has been the subject of several analyst reports. B. Riley reduced their price objective on MacroGenics from $5.00 to $3.00 and set a "neutral" rating for the company in a research note on Tuesday, May 20th. Stifel Nicolaus reduced their price objective on MacroGenics from $6.00 to $5.00 and set a "hold" rating for the company in a research note on Wednesday, May 14th. Barclays reissued an "overweight" rating and set a $3.00 target price (down from $8.00) on shares of MacroGenics in a research note on Wednesday, May 14th. Wall Street Zen downgraded MacroGenics from a "hold" rating to a "sell" rating in a research note on Friday, June 27th. Finally, HC Wainwright cut their target price on MacroGenics from $4.00 to $2.00 and set a "neutral" rating for the company in a research note on Tuesday, March 25th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, MacroGenics has an average rating of "Hold" and an average price target of $5.71.

MacroGenics Stock Performance

The firm has a market cap of $101.57 million, a price-to-earnings ratio of -1.81 and a beta of 1.59. The business has a fifty day moving average of $1.48 and a two-hundred day moving average of $2.03.

MacroGenics (NASDAQ:MGNX - Get Free Report) last released its quarterly earnings results on Tuesday, May 13th. The biopharmaceutical company reported ($0.65) earnings per share for the quarter, missing analysts' consensus estimates of ($0.61) by ($0.04). The firm had revenue of $13.19 million during the quarter, compared to analyst estimates of $9.59 million. MacroGenics had a negative return on equity of 59.84% and a negative net margin of 36.23%. On average, equities research analysts forecast that MacroGenics, Inc. will post -1.06 earnings per share for the current year.

Institutional Investors Weigh In On MacroGenics

Large investors have recently bought and sold shares of the stock. State of Wyoming acquired a new stake in MacroGenics during the 1st quarter valued at $28,000. Lazard Asset Management LLC acquired a new stake in MacroGenics during the 4th quarter valued at $32,000. American Century Companies Inc. acquired a new stake in MacroGenics during the 4th quarter valued at $38,000. Jump Financial LLC acquired a new stake in MacroGenics during the 4th quarter valued at $44,000. Finally, Deutsche Bank AG grew its holdings in MacroGenics by 3,803.2% during the 1st quarter. Deutsche Bank AG now owns 51,093 shares of the biopharmaceutical company's stock valued at $65,000 after buying an additional 49,784 shares during the last quarter. Institutional investors and hedge funds own 96.89% of the company's stock.

MacroGenics Company Profile

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.