MacroGenics (NASDAQ:MGNX) Shares Pass Below Two Hundred Day Moving Average - Time to Sell?

MacroGenics, Inc. (NASDAQ:MGNX - Get Free Report)'s share price crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $2.27 and traded as low as $1.37. MacroGenics shares last traded at $1.37, with a volume of 849,316 shares.

Wall Street Analyst Weigh In

MGNX has been the subject of a number of research analyst reports. Wall Street Zen raised MacroGenics from a "sell" rating to a "hold" rating in a report on Saturday, June 7th. HC Wainwright reduced their target price on MacroGenics from $4.00 to $2.00 and set a "neutral" rating for the company in a report on Tuesday, March 25th. Barclays reissued an "overweight" rating and issued a $3.00 target price (down previously from $8.00) on shares of MacroGenics in a report on Wednesday, May 14th. Stifel Nicolaus reduced their target price on MacroGenics from $6.00 to $5.00 and set a "hold" rating for the company in a report on Wednesday, May 14th. Finally, B. Riley reduced their target price on MacroGenics from $5.00 to $3.00 and set a "neutral" rating for the company in a report on Tuesday, May 20th. Eight research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, MacroGenics currently has a consensus rating of "Hold" and an average target price of $5.71.

MacroGenics Stock Down 8.7%

The company has a market cap of $86.43 million, a P/E ratio of -1.54 and a beta of 1.65. The company has a fifty day moving average of $1.51 and a 200 day moving average of $2.27.

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

Hedge Funds Weigh In On MacroGenics

Several institutional investors and hedge funds have recently bought and sold shares of MGNX. Charles Schwab Investment Management Inc. lifted its position in shares of MacroGenics by 7.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 527,185 shares of the biopharmaceutical company's stock valued at $1,713,000 after acquiring an additional 34,420 shares in the last quarter. SPC Financial Inc. bought a new stake in shares of MacroGenics in the fourth quarter worth about $123,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of MacroGenics by 12.5% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 744,902 shares of the biopharmaceutical company's stock worth $2,421,000 after purchasing an additional 82,988 shares during the last quarter. Kazazian Asset Management LLC bought a new stake in shares of MacroGenics in the fourth quarter worth about $137,000. Finally, American Century Companies Inc. bought a new stake in shares of MacroGenics in the fourth quarter worth about $38,000. 96.89% of the stock is currently owned by hedge funds and other institutional investors.

About MacroGenics

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.

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