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

MacroGenics, Inc. (NASDAQ:MGNX)’s stock 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 traded.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on MGNX shares. StockNews.com raised MacroGenics from a “sell” rating to a “buy” rating in a research note on Sunday, November 10th. HC Wainwright reiterated a “neutral” rating and set a $4.00 price objective on shares of MacroGenics in a research report on Wednesday, November 6th. Finally, JMP Securities cut MacroGenics from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 7th. Eight analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $7.63.

MacroGenics Stock Performance

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

Institutional Trading of MacroGenics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MGNX. Wasatch Advisors LP grew its holdings in MacroGenics by 37.6% in the 4th quarter. Wasatch Advisors LP now owns 3,488,493 shares of the biopharmaceutical company’s stock valued at $11,338,000 after buying an additional 952,691 shares during the period. Schonfeld Strategic Advisors LLC purchased a new stake in MacroGenics in the 4th quarter valued at about $2,787,000. JPMorgan Chase & Co. grew its holdings in MacroGenics by 68.3% in the 4th quarter. JPMorgan Chase & Co. now owns 546,807 shares of the biopharmaceutical company’s stock valued at $1,777,000 after buying an additional 221,905 shares during the period. Renaissance Technologies LLC grew its holdings in MacroGenics by 69.1% in the 4th quarter. Renaissance Technologies LLC now owns 538,523 shares of the biopharmaceutical company’s stock valued at $1,750,000 after buying an additional 220,100 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in MacroGenics by 39.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 661,914 shares of the biopharmaceutical company’s stock valued at $2,178,000 after buying an additional 186,858 shares during the period. Hedge funds and other institutional investors own 96.89% of the company’s stock.

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.