MacroGenics (NASDAQ:MGNX) Stock Price Crosses Below 200 Day Moving Average – What’s Next?

MacroGenics, Inc. (NASDAQ:MGNX)’s share price passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $3.39 and traded as low as $2.79. MacroGenics shares last traded at $2.88, with a volume of 528,521 shares trading hands.

Analysts Set New Price Targets

A number of analysts recently weighed in on MGNX shares. StockNews.com upgraded MacroGenics from a “sell” rating to a “buy” rating in a research note on Sunday, November 10th. JMP Securities downgraded MacroGenics from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 7th. Finally, HC Wainwright restated a “neutral” rating and issued a $4.00 price target on shares of MacroGenics in a research note on Wednesday, November 6th. Eight research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $7.63.

MacroGenics Stock Down 4.2 %

The company has a market capitalization of $173.23 million, a price-to-earnings ratio of -1.75 and a beta of 2.02. The stock has a fifty day moving average price of $3.05 and a two-hundred day moving average price of $3.38.

Hedge Funds Weigh In On MacroGenics

Institutional investors have recently made changes to their positions in the stock. Lazard Asset Management LLC acquired a new position in shares of MacroGenics in the fourth quarter worth $32,000. XTX Topco Ltd acquired a new position in MacroGenics in the third quarter valued at $37,000. American Century Companies Inc. acquired a new position in MacroGenics in the fourth quarter valued at $38,000. China Universal Asset Management Co. Ltd. increased its stake in MacroGenics by 64.0% in the third quarter. China Universal Asset Management Co. Ltd. now owns 12,064 shares of the biopharmaceutical company’s stock valued at $40,000 after purchasing an additional 4,707 shares during the last quarter. Finally, Sanders Morris Harris LLC acquired a new position in MacroGenics in the fourth quarter valued at $40,000. 96.89% of the stock is 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.