Macrogenics Inc (NASDAQ:MGNX) price on Friday, December 27, fall -0.92% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $3.23.
A look at the stock’s price movement, the close in the last trading session was $3.26, moving within a range at $3.09 and $3.29. The beta value (5-Year monthly) was 2.076. Turning to its 52-week performance, $21.88 and $2.95 were the 52-week high and 52-week low respectively. Overall, MGNX moved -5.00% over the past month.
Macrogenics Inc’s market cap currently stands at around $202.73 million, with investors looking forward to this quarter’s earnings report slated for in January.
Analysts have a consensus estimate of 32.69M for the company’s revenue for the quarter, with a low and high estimate of 7.7M and 58.6M respectively. The average forecast suggests up to a 204.94% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 159.93M, representing a 172.22% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that MGNX is a 100% Sell. On the other hand, the stock is on average a 50% Sell as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell category.
8 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 2 analyst(s) rate the stock as a Hold, 6 recommend MGNX as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
MGNX’s current price about -3.65% and -9.69% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 42.79, while 7-day volatility ratio is 4.83% and 5.84% in the 30-day chart. Further, Macrogenics Inc (MGNX) has a beta value of 2.03, and an average true range (ATR) of 0.21. Analysts have given the company’s stock an average 52-week price target of $7, forecast between a low of $5 and high of $9. Looking at the price targets, the low is -54.8% off current price level while to achieve the yearly target high, price needs to move -178.64%. Nonetheless, investors will most likely welcome a -116.72% jump to $7 which is the analysts’ median price.
If we refocus on Macrogenics Inc (NASDAQ:MGNX), historical trading data shows that trading volumes averaged 0.49 over the past 10 days and 580.22K over the past 3 months. The company’s latest data on shares outstanding shows there are 62.76 million shares.
The 7.77% of Macrogenics Inc’s shares are in the hands of company insiders while institutional holders own 84.43% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 5.21 million on 2024-11-29, giving us a short ratio of 7.2. The data shows that as of 2024-11-29 short interest in Macrogenics Inc (MGNX) stood at 1019.0000000000001 of shares outstanding, with shares short falling to 5.46 million registered in 2024-10-31. Current price change has pushed the stock -66.42% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the MGNX stock continues to rise going into the next quarter.
