MacroGenics (NASDAQ:MGNX) Shares Cross Below 200-Day Moving Average - Time to Sell?

MacroGenics, Inc. (NASDAQ:MGNX - Get Free Report)'s share price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.86 and traded as low as $1.64. MacroGenics shares last traded at $1.79, with a volume of 832,177 shares trading hands.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. HC Wainwright decreased their target price on MacroGenics from $4.00 to $2.00 and set a "neutral" rating for the company in a research report on Tuesday, March 25th. StockNews.com lowered MacroGenics from a "buy" rating to a "hold" rating in a report on Friday, March 21st. Nine investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $7.38.

MacroGenics Trading Up 8.4 %

The firm has a market cap of $109.46 million, a PE ratio of -1.10 and a beta of 2.23. The stock has a fifty day simple moving average of $1.75 and a two-hundred day simple moving average of $2.80.

MacroGenics (NASDAQ:MGNX - Get Free Report) last posted its earnings results on Thursday, March 20th. The biopharmaceutical company reported ($0.25) earnings per share for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.02). The company had revenue of $49.40 million for the quarter, compared to analysts' expectations of $34.17 million. MacroGenics had a negative net margin of 69.07% and a negative return on equity of 89.42%. As a group, sell-side analysts predict that MacroGenics, Inc. will post -1.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MacroGenics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Lazard Asset Management LLC purchased a new stake in shares of MacroGenics during the 4th quarter valued at $32,000. American Century Companies Inc. bought a new position in MacroGenics in the fourth quarter valued at $38,000. Sanders Morris Harris LLC purchased a new stake in MacroGenics during the fourth quarter valued at about $40,000. Jump Financial LLC bought a new stake in MacroGenics during the fourth quarter worth about $44,000. Finally, ProShare Advisors LLC boosted its holdings in shares of MacroGenics by 32.4% in the 4th quarter. ProShare Advisors LLC now owns 20,284 shares of the biopharmaceutical company's stock worth $66,000 after purchasing an additional 4,963 shares in the last quarter. 96.89% of the stock is owned by hedge funds and other institutional investors.

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.