MacroGenics, Inc. (NASDAQ:MGNX - Get Free Report) shares crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred 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 trading hands.
Analysts Set New Price Targets
MGNX has been the subject of several recent analyst reports. Leerink Partners lowered their price target on MacroGenics from $8.00 to $5.00 and set an "outperform" rating for the company in a report on Friday, August 15th. B. Riley lowered their price target on MacroGenics from $5.00 to $3.00 and set a "neutral" rating for the company in a report on Tuesday, May 20th. Stifel Nicolaus lowered their price target on MacroGenics from $6.00 to $5.00 and set a "hold" rating for the company in a report on Wednesday, May 14th. Barclays restated an "overweight" rating and issued a $3.00 price target (down previously from $8.00) on shares of MacroGenics in a report on Wednesday, May 14th. Finally, Wall Street Zen downgraded MacroGenics from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $3.60.
Check Out Our Latest Analysis on MGNX
MacroGenics Stock Performance
The business has a fifty day moving average price of $1.54 and a 200 day moving average price of $1.66. The company has a market capitalization of $111.88 million, a PE ratio of -3.11 and a beta of 1.63.
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, topping analysts' consensus estimates of ($0.59) by $0.02. MacroGenics had a negative return on equity of 40.24% and a negative net margin of 21.99%.The company had revenue of $22.24 million for the quarter, compared to the consensus estimate of $28.06 million. Research analysts forecast that MacroGenics, Inc. will post -1.06 earnings per share for the current fiscal year.
Insider Buying and Selling at MacroGenics
In related news, Director William K. Heiden bought 49,500 shares of the firm's stock in a transaction dated Wednesday, August 20th. The stock was bought at an average price of $1.49 per share, with a total value of $73,755.00. Following the completion of the transaction, the director directly owned 111,000 shares of the company's stock, valued at approximately $165,390. This represents a 80.49% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 13.00% of the stock is owned by insiders.
Institutional Investors Weigh In On MacroGenics
Several institutional investors and hedge funds have recently modified their holdings of MGNX. EcoR1 Capital LLC purchased a new stake in shares of MacroGenics in the second quarter worth about $1,939,000. Acadian Asset Management LLC boosted its position in shares of MacroGenics by 78.8% in the first quarter. Acadian Asset Management LLC now owns 2,308,649 shares of the biopharmaceutical company's stock worth $2,923,000 after buying an additional 1,017,726 shares during the period. Schonfeld Strategic Advisors LLC purchased a new stake in shares of MacroGenics in the fourth quarter worth about $2,787,000. Jane Street Group LLC boosted its position in shares of MacroGenics by 207.7% in the second quarter. Jane Street Group LLC now owns 758,204 shares of the biopharmaceutical company's stock worth $917,000 after buying an additional 511,777 shares during the period. Finally, Amundi purchased a new stake in shares of MacroGenics in the first quarter worth about $272,000. Hedge funds and other institutional investors own 96.89% of the company's stock.
About MacroGenics
(
Get Free Report)
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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