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

MacroGenics, Inc. (NASDAQ:MGNX - Get Free Report)'s stock price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $3.06 and traded as low as $0.99. MacroGenics shares last traded at $1.10, with a volume of 2,064,184 shares.

Analyst Ratings Changes

MGNX has been the topic of a number of research analyst reports. HC Wainwright cut their target price on MacroGenics from $4.00 to $2.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 25th. StockNews.com downgraded MacroGenics from a "buy" rating to a "hold" rating in a report on Friday, March 21st. Nine equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, MacroGenics presently has an average rating of "Hold" and a consensus price target of $7.38.

MacroGenics Stock Up 3.2 %

The stock has a fifty day moving average of $2.06 and a 200-day moving average of $2.98. The stock has a market capitalization of $81.39 million, a PE ratio of -0.82 and a beta of 2.23.

MacroGenics (NASDAQ:MGNX - Get Free Report) last announced its quarterly earnings data on Thursday, March 20th. The biopharmaceutical company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.02). MacroGenics had a negative net margin of 69.07% and a negative return on equity of 89.42%. The company had revenue of $49.40 million during the quarter, compared to analysts' expectations of $34.17 million. Equities research analysts expect that MacroGenics, Inc. will post -1.06 EPS for the current year.

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Institutional Investors Weigh In On MacroGenics

Hedge funds and other institutional investors have recently modified their holdings of the company. Lazard Asset Management LLC purchased a new position in MacroGenics in the fourth quarter valued at $32,000. XTX Topco Ltd acquired a new position in shares of MacroGenics during the 3rd quarter worth about $37,000. American Century Companies Inc. purchased a new position in shares of MacroGenics in the 4th quarter valued at about $38,000. Sanders Morris Harris LLC acquired a new stake in shares of MacroGenics during the 4th quarter worth about $40,000. Finally, Jump Financial LLC purchased a new stake in MacroGenics during the fourth quarter worth approximately $44,000. 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.