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

Key Points

• MacroGenics stock has crossed below its 200-day moving average, currently trading at $1.64, which raises concerns for investors considering selling.
• Analysts have significantly reduced price targets for MacroGenics, with B. Riley establishing a new target of $3.00, reflecting a general shift to a more cautious outlook.
• Insider trading reports show Director William K. Heiden purchased 49,500 shares at an average price of $1.49, indicating a potential confidence in the company's future despite its current stock performance.

MacroGenics, Inc. (NASDAQ:MGNX - Get Free Report)'s share price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.68 and traded as low as $1.64. MacroGenics shares last traded at $1.64, with a volume of 911,663 shares traded.

Wall Street Analysts Forecast Growth

Several research firms recently commented on MGNX. Stifel Nicolaus decreased their price objective 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. B. Riley reduced their target price on shares of MacroGenics from $5.00 to $3.00 and set a "neutral" rating on the stock in a report on Tuesday, May 20th. Wall Street Zen lowered shares of MacroGenics from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. Barclays restated an "overweight" rating and issued a $3.00 target price (down from $8.00) on shares of MacroGenics in a report on Wednesday, May 14th. Finally, Leerink Partners reduced their target price on shares of MacroGenics from $8.00 to $5.00 and set an "outperform" rating on the stock in a report on Friday, August 15th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $3.60.

MacroGenics Stock Performance

The firm has a market capitalization of $111.87 million, a PE ratio of -3.11 and a beta of 1.65. The company's fifty day moving average price is $1.54 and its two-hundred day moving average price is $1.67.

MacroGenics (NASDAQ:MGNX - Get Free Report) last announced its quarterly earnings data on Thursday, August 14th. The biopharmaceutical company reported ($0.57) earnings per share for the quarter, topping the consensus estimate of ($0.59) by $0.02. The business had revenue of $22.24 million for the quarter, compared to analyst estimates of $28.06 million. MacroGenics had a negative net margin of 21.99% and a negative return on equity of 40.24%. On average, equities analysts expect that MacroGenics, Inc. will post -1.06 earnings per share for the current year.

Insider Transactions at MacroGenics

In other MacroGenics news, Director William K. Heiden bought 49,500 shares of the company's stock in a transaction that occurred on Wednesday, August 20th. The stock was purchased at an average price of $1.49 per share, with a total value of $73,755.00. Following the transaction, the director owned 111,000 shares in the company, valued at $165,390. This trade represents a 80.49% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 13.00% of the company's stock.

Institutional Trading of MacroGenics

Institutional investors and hedge funds have recently bought and sold shares of the business. Lazard Asset Management LLC acquired a new stake in MacroGenics during the 4th quarter worth approximately $32,000. ProShare Advisors LLC increased its position in MacroGenics by 32.4% during 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. Quadrature Capital Ltd acquired a new stake in MacroGenics during the 2nd quarter worth approximately $26,000. State of Wyoming acquired a new stake in MacroGenics in the first quarter valued at approximately $28,000. Finally, Engineers Gate Manager LP acquired a new stake in MacroGenics in the second quarter valued at approximately $28,000. 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.