MacroGenics Inc. (NASDAQ:MGNX) finished Wednesday with an addition of $1.08 to close at $6.06, an upside of 21.72 percent. An average of 742,451 shares of common stock have been traded in the last five days. There was a gain of $0.63 in the past week, and it reached a new high 9 times over the past 12 months. The last 20 days have seen an average of 496,223 shares traded, while the 50-day average volume stands at 560,327.
MGNX stock has increased by 17.02% in the last month. The company shares reached their 1-month lowest point of $4.44 on 07/27/23. With the stock rallying to its 52-week high on 05/10/23, shares of the company touched a low of $2.93 and a high of $7.90 in 52 weeks. It has reached a new high 5 times so far this year and lost -9.66% or -$0.85 in price. In spite of this, the price is down -23.27% from the 52-week high.
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Insider Transactions
MGNX stock investors should be aware that MacroGenics Inc. (MGNX) stock had its last reported insider trading activity 153 days ago on Mar 10.
Valuation Metrics
MacroGenics Inc. (MGNX) stock’s beta is 1.97. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 2.37, the price-to-book (PB) ratio at 3.42.
Financial Health
The quick ratio of MacroGenics Inc. for the three months ended June 29 was 6.30, and the current ratio was 6.30, 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. MacroGenics Inc.’s EBITDA margin for the year ending June 29 is -72.10%, while its operating margin for the same period stands at -56.40%. Its gross profit as reported stood at $144.56 million compared to revenue of $151.94 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 -35.20%.
Earnings Surprise
In the quarter under review, the net income was down than the previous quarter. The company posted a net income of -$38.01 million in the quarter, while revenues of $12.8 million were shrunk -74.8%. The analyst consensus anticipated MacroGenics Inc.’s latest quarter earnings to come in at -$0.52 per share, but it turned out to be -$0.69, a -32.70% surprise. For the quarter, EBITDA amounted to -$35.81 million. Shareholders own equity worth $61.84 million.
Technical Picture
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 09 August was 73.66%, suggesting the stock is Overbought, with historical volatility in this time frame at 89.85%.
As of today, MGNX’s price is $5.11 +12.05% or $0.63 from its 5-day moving average. MGNX is currently trading +16.50% higher than its 20-day SMA and -11.88% lower than its 100-day SMA. However, the stock’s current price level is +25.48% above the SMA50 and +22.08% above the SMA200.
The stochastic %K and %D were 58.47% and 51.47%, respectively, and the average true range (ATR) was 0.42. With the 14-day stochastic at 70.65% and the average true range at 0.36, the RSI (14) stands at 66.23%. The stock has reached 0.21 on the 9-day MACD Oscillator while the 14-day reading was at 0.34.
Analyst Ratings
Guggenheim downgraded MacroGenics Inc. (NASDAQ: MGNX) to a a Neutral rating in its most recent analyst report. Previously, the stock was rated as a Buy. 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 5 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 $7.00 and $17.00, 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 $12.14.
