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

MacroGenics, Inc. (NASDAQ:MGNX)’s share price crossed 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 changing hands.

Analysts Set New Price Targets

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

MacroGenics Price Performance

The company has a 50-day moving average price of $3.05 and a two-hundred day moving average price of $3.38. The company has a market cap of $173.23 million, a PE ratio of -1.75 and a beta of 2.02.

Institutional Investors Weigh In On MacroGenics

Several institutional investors and hedge funds have recently modified their holdings of the stock. China Universal Asset Management Co. Ltd. boosted its position in shares of 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 worth $40,000 after buying an additional 4,707 shares during the period. ProShare Advisors LLC boosted its position in shares of MacroGenics by 32.4% in the fourth quarter. ProShare Advisors LLC now owns 20,284 shares of the biopharmaceutical company’s stock worth $66,000 after buying an additional 4,963 shares during the period. XML Financial LLC boosted its position in shares of MacroGenics by 31.6% in the fourth quarter. XML Financial LLC now owns 23,169 shares of the biopharmaceutical company’s stock worth $75,000 after buying an additional 5,569 shares during the period. Stifel Financial Corp boosted its position in shares of MacroGenics by 19.7% in the third quarter. Stifel Financial Corp now owns 39,888 shares of the biopharmaceutical company’s stock worth $131,000 after buying an additional 6,578 shares during the period. Finally, Wells Fargo & Company MN boosted its position in shares of MacroGenics by 45.4% in the fourth quarter. Wells Fargo & Company MN now owns 29,838 shares of the biopharmaceutical company’s stock worth $97,000 after buying an additional 9,312 shares during the period. Hedge funds and other institutional investors own 96.89% of the company’s stock.

About MacroGenics

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.