MacroGenics (NASDAQ:MGNX) Stock Crosses Below 200-Day Moving Average – Here’s What Happened

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.

Analyst Ratings Changes

MGNX has been the topic of several recent analyst reports. JMP Securities lowered shares of MacroGenics from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 7th. HC Wainwright reiterated a “neutral” rating and issued a $4.00 price target on shares of MacroGenics in a research note on Wednesday, November 6th. Finally, StockNews.com upgraded shares of MacroGenics from a “sell” rating to a “buy” rating in a research note on Sunday, November 10th. Eight investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $7.63.

MacroGenics Stock Down 1.0 %

The business has a fifty day simple moving average of $3.06 and a 200 day simple moving average of $3.39. The company has a market cap of $180.75 million, a price-to-earnings ratio of -1.82 and a beta of 2.02.

Institutional Investors Weigh In On MacroGenics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Lazard Asset Management LLC acquired a new stake in MacroGenics in the fourth quarter valued at $32,000. XTX Topco Ltd acquired a new stake in MacroGenics in the third quarter valued at $37,000. American Century Companies Inc. acquired a new stake in MacroGenics in the fourth quarter valued at $38,000. China Universal Asset Management Co. Ltd. lifted its holdings 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 acquiring an additional 4,707 shares during the period. Finally, Sanders Morris Harris LLC acquired a new stake in MacroGenics in the fourth quarter valued at $40,000. Institutional investors and hedge funds 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.