Guggenheim lifts MacroGenics Inc. [MGNX] price estimate. Who else is bullish?


MacroGenics Inc. [NASDAQ: MGNX] traded at a low on 06/15/22, posting a -2.89 loss after which it closed the day’ session at $2.35. The company report on June 8, 2022 that MacroGenics to Participate in Upcoming Investor Conference.

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MacroGenics, Inc. (Nasdaq: MGNX), a biopharmaceutical company focused on developing and commercializing innovative antibody-based therapeutics for the treatment of cancer, today announced that the Company’s management will participate in the following investor conference in June 2022:.

The JMP Securities Life Sciences Conference. MacroGenics’ management is scheduled to participate in a fireside chat on Thursday, June 16, 2022, at 12:00 pm ET, and will also participate in one-on-one meetings.

The results of the trading session contributed to over 5013103 shares changing hands. Over the past one week, the price volatility of MacroGenics Inc. stands at 11.12% while the volatility over the past one month is 9.03%.

The market cap for MGNX stock reached $158.04 million, with 61.32 million shares outstanding and 58.11 million shares in the current float. Compared to the average trading volume of 751.09K shares, MGNX reached a trading volume of 5013103 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about MacroGenics Inc. [MGNX]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MGNX shares is $28.33 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on MGNX stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Guggenheim have made an estimate for MacroGenics Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on May 04, 2022. While these analysts kept the previous recommendation, Citigroup dropped their target price from $23 to $21. The new note on the price target was released on February 28, 2022, representing the official price target for MacroGenics Inc. stock. Previously, the target price had yet another raise to $31, while BMO Capital Markets analysts kept a Outperform rating on MGNX stock.

The Average True Range (ATR) for MacroGenics Inc. is set at 0.33, with the Price to Sales ratio for MGNX stock in the period of the last 12 months amounting to 2.20. The Price to Book ratio for the last quarter was 0.81, with the Price to Cash per share for the same quarter was set at 2.74.

How has MGNX stock performed recently?

MacroGenics Inc. [MGNX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -29.00. With this latest performance, MGNX shares dropped by -43.10% in over the last four-week period, additionally sinking by -85.52% over the last 6 months – not to mention a drop of -88.73% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MGNX stock in for the last two-week period is set at 20.31, with the RSI for the last a single of trading hit 16.39, and the three-weeks RSI is set at 23.78 for MacroGenics Inc. [MGNX]. The present Moving Average for the last 50 days of trading for this stock 5.54, while it was recorded at 2.62 for the last single week of trading, and 13.40 for the last 200 days.

MacroGenics Inc. [MGNX]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and MacroGenics Inc. [MGNX] shares currently have an operating margin of -261.85 and a Gross Margin at +82.04. MacroGenics Inc.’s Net Margin is presently recorded at -260.97.

Return on Equity for this stock declined to -75.49, with Return on Assets sitting at -56.62.

MacroGenics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.20 and a Current Ratio set at 3.30.

Insider trade positions for MacroGenics Inc. [MGNX]

There are presently around $146 million, or 99.60% of MGNX stock, in the hands of institutional investors. The top three institutional holders of MGNX stocks are: BELLEVUE GROUP AG with ownership of 7,325,514, which is approximately -14.426% of the company’s market cap and around 2.20% of the total institutional ownership; RA CAPITAL MANAGEMENT, L.P., holding 6,103,594 shares of the stock with an approximate value of $14.77 million in MGNX stocks shares; and BLACKROCK INC., currently with $12.5 million in MGNX stock with ownership of nearly -0.538% of the company’s market capitalization.

Positions in MacroGenics Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 78 institutional holders increased their position in MacroGenics Inc. [NASDAQ:MGNX] by around 8,977,058 shares. Additionally, 72 investors decreased positions by around 5,877,576 shares, while 28 investors held positions by with 45,446,879 shares. The mentioned changes placed institutional holdings at 60,301,513 shares, according to the latest SEC report filing. MGNX stock had 20 new institutional investments in for a total of 1,883,167 shares, while 34 institutional investors sold positions of 3,359,439 shares during the same period.