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

MacroGenics, Inc. (NASDAQ:MGNX - Get Free Report) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.77 and traded as low as $1.46. MacroGenics shares last traded at $1.66, with a volume of 530,430 shares trading hands.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. B. Riley reduced their price target on shares of MacroGenics from $5.00 to $3.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 20th. Wall Street Zen lowered shares of MacroGenics from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. Leerink Partners reduced their price target on shares of MacroGenics from $8.00 to $5.00 and set an "outperform" rating on the stock in a research report on Friday. Stifel Nicolaus reduced their price target on shares of MacroGenics from $6.00 to $5.00 and set a "hold" rating on the stock in a research report on Wednesday, May 14th. Finally, Barclays reissued an "overweight" rating and set a $3.00 price target (down from $8.00) on shares of MacroGenics in a research note on Wednesday, May 14th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $3.60.

MacroGenics Stock Up 0.3%

The business has a fifty day moving average of $1.51 and a 200 day moving average of $1.73. The firm has a market cap of $100.00 million, a P/E ratio of -2.78 and a beta of 1.65.

MacroGenics (NASDAQ:MGNX - Get Free Report) last released its quarterly earnings data on Thursday, August 14th. The biopharmaceutical company reported ($0.57) EPS for the quarter, beating analysts' consensus estimates of ($0.59) by $0.02. The business had revenue of $22.24 million during the quarter, compared to the consensus estimate of $28.06 million. MacroGenics had a negative return on equity of 34.64% and a negative net margin of 21.99%. On average, sell-side analysts expect that MacroGenics, Inc. will post -1.06 EPS for the current fiscal year.

Institutional Investors Weigh In On MacroGenics

Several hedge funds have recently bought and sold shares of MGNX. Quadrature Capital Ltd acquired a new stake in MacroGenics in the second quarter worth $26,000. State of Wyoming acquired a new stake in MacroGenics in the first quarter worth $28,000. Engineers Gate Manager LP acquired a new stake in MacroGenics in the second quarter worth $28,000. Walleye Capital LLC acquired a new stake in MacroGenics in the second quarter worth $30,000. Finally, Public Employees Retirement System of Ohio raised its holdings in MacroGenics by 261.8% in the second quarter. Public Employees Retirement System of Ohio now owns 25,982 shares of the biopharmaceutical company's stock worth $31,000 after purchasing an additional 18,800 shares during the period. 96.89% of the stock is currently owned by institutional investors and hedge funds.

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.