MacroGenics (NASDAQ:MGNX) Stock Crosses Above Fifty Day Moving Average - What's Next?

Key Points

• Shares crossed above the 50-day moving average, trading as high as $3.49 and last at $3.35 (up ~5.3%) on volume of about 1.33M shares.
• Quarterly results beat estimates—EPS of ($0.22) vs. ($0.42) expected and revenue $41.23M vs. $27.81M—though the company remains unprofitable with negative ROE and net margin.
• Analyst consensus is "Hold" with a $3.80 price target; Barclays upgraded to overweight with a $4.00 target, and analyst ratings split roughly 2 Buy / 5 Hold / 1 Sell.

MacroGenics, Inc. (NASDAQ:MGNX - Get Free Report) shares crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $2.35 and traded as high as $3.49. MacroGenics shares last traded at $3.35, with a volume of 1,332,792 shares traded.

Analyst Ratings Changes

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

MacroGenics Stock Up 5.3%

The firm has a market capitalization of $212.93 million, a price-to-earnings ratio of -2.86 and a beta of 1.09. The company has a fifty day moving average price of $2.35 and a two-hundred day moving average price of $1.88.

MacroGenics (NASDAQ:MGNX - Get Free Report) last posted its quarterly earnings data on Monday, March 9th. The biopharmaceutical company reported ($0.22) earnings per share for the quarter, beating the consensus estimate of ($0.42) by $0.20. The business had revenue of $41.23 million during 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%. On average, equities analysts anticipate that MacroGenics, Inc. will post -1.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MacroGenics

Hedge funds have recently modified their holdings of the stock. R Squared Ltd acquired a new stake in shares of MacroGenics during the fourth quarter worth $26,000. SG Americas Securities LLC increased its position in shares of MacroGenics by 55.9% in the third 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. Qube Research & Technologies Ltd purchased a new position in shares of MacroGenics in the third quarter valued at $38,000. Engineers Gate Manager LP purchased a new position in shares of MacroGenics in the second quarter valued at $28,000. Finally, Walleye Capital LLC purchased a new position in shares of MacroGenics in the second quarter valued at $30,000. 96.89% of the stock is owned by institutional investors and hedge funds.

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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