MacroGenics Inc. (NASDAQ:MGNX) finished Friday with an addition of $0.21 to close at $6.71, an upside of 3.23 percent. An average of 616,220 shares of common stock have been traded in the last five days. There was a gain of $0.81 in the past week, and it reached a new high 3 times over the past 12 months. The last 20 days have seen an average of 566,310 shares traded, while the 50-day average volume stands at 950,684.
MGNX stock has increased by 4.35% in the last month. The company shares reached their 1-month lowest point of $5.39 on 12/27/22. With the stock rallying to its 52-week high on 01/04/22, shares of the company touched a low of $2.13 and a high of $17.20 in 52 weeks. It has reached a new high 2 times so far this year and lost -58.19% or -$9.34 in price. In spite of this, the price is down -60.99% from the 52-week high.
Will You Miss Out On This Growth Stock Boom?
A new megatrend in the fintech market is well underway. Mobile payments are projected to boom into a massive $12 trillion market by 2028. According to Motley Fool this growth stock could "deliver huge returns." Not only in the immediate future but also over the next decade. Especially since the man behind this company is a serial entrepreneur who has been wildly successful over the years.
And this is just one of our 5 Best Growth Stocks To Own For 2023.
MacroGenics Inc. (MGNX) stock’s beta is 2.07. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 4.41, the price-to-book (PB) ratio at 3.36.
The quick ratio of MacroGenics Inc. for the three months ended June 29 was 2.90, and the current ratio was 3.00, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.00 and a total debt to equity ratio of 0.00 for the quarter ending June 29. Its gross profit as reported stood at $74.8 million compared to revenue of $77.45 million.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, MacroGenics Inc.’s return on assets was -74.70%.
In the quarter under review, the net income was up than the previous quarter. The company posted a net income of -$24.81 million in the quarter, while revenues of -$41.3 million were shrunk -113.18%. The analyst consensus anticipated MacroGenics Inc.’s latest quarter earnings to come in at -$0.97 per share, but it turned out to be -$0.67, a 30.90% surprise. For the quarter, EBITDA amounted to -$22.0 million. Shareholders own equity worth $61.48 million.
From a technical analysis perspective, let’s take a brief look at MacroGenics Inc. (MGNX) price momentum. RSI 9-day as of the close on 30 December was 64.09%, suggesting the stock is Neutral, with historical volatility in this time frame at 93.47%.
As of today, MGNX’s price is $6.09 +13.73% or $0.81 from its 5-day moving average. MGNX is currently trading -3.03% lower than its 20-day SMA and +31.57% higher than its 100-day SMA. However, the stock’s current price level is +75.65% above the SMA50 and -22.78% below the SMA200.
The stochastic %K and %D were 70.36% and 47.37%, respectively, and the average true range (ATR) was 0.46. With the 14-day stochastic at 95.50% and the average true range at 0.48, the RSI (14) stands at 59.72%. The stock has reached 0.30 on the 9-day MACD Oscillator while the 14-day reading was at 0.18.
Cowen downgraded MacroGenics Inc. (NASDAQ: MGNX) to a a Market perform rating in its most recent analyst report. Previously, the stock was rated as an Outperform. The consensus rating for MacroGenics Inc. (MGNX) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell MGNX, while 3 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 8 others rate it as a “buy”.
What is MGNX’s price target for the next 12 months?
Analysts predict a range of price targets between $6.00 and $18.00, with a median target of $12.00. Taking a look at these predictions, the average price target given by analysts for MacroGenics Inc. (MGNX) stock is $11.40.