The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. MacroGenics Inc. shares valued at $98,800 were purchased by Karrels James on Jun 15. At $2.47 per share, Karrels James acquired 40,000 shares. The insider’s holdings grew to 191,776 shares worth approximately $0.58 million following the completion of this transaction.
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Also, BIOTECH TARGET N V purchased 200,000 shares, netting a total of over 3,700,320 in proceeds. Following the buying of shares at $18.50 each, the insider now holds 7,275,564 shares.
Before that, BIOTECH TARGET N V had added 100,000 shares to its account. In a trade valued at $2,047,460, the 10% Owner bought MacroGenics Inc. shares for $20.47 each. Upon closing the transaction, the insider’s holdings increased to 100,000 shares, worth approximately $21.3 million.
As published in a research note from SMBC Nikko on July 18, 2022, MacroGenics Inc. [MGNX] has been rated down from an Outperform to a Neutral and the price target has been revised to $5. This represents a 39.8% premium over Thursday’s closing price. Analysts at BMO Capital Markets downgraded the stock from ‘”an Outperform”‘ to ‘”a Market perform”‘ outlook in a report released in mid July. As of May 04, 2022, Guggenheim has decreased its “Buy” rating to a “Neutral” for MGNX. Earlier on February 28, 2022, Citigroup upgraded its rating. Their new recommendation was “a Buy” for MGNX stock which previously was a “a Neutral”.
Analyzing MGNX’s Price Performance
On Thursday, MacroGenics Inc. [NASDAQ: MGNX] plunged -4.75% to $3.01. The stock’s lowest price that day was $2.9699, but it reached a high of $3.12 in the same session. During the last five days, there has been a drop of approximately -14.97%. Over the course of the year, MacroGenics Inc. shares have dropped approximately -81.25%. Shares of the company reached a 52-week high of $17.20 on 01/04/22 and a 52-week low of $2.13 on 06/16/22. A 50-day SMA is recorded $3.93, while a 200-day SMA reached $7.68. Nevertheless, trading volume fell to 1.07 million shares from 0.37 million shares the previous day.
Support And Resistance Levels for MacroGenics Inc. (MGNX)
According to the 24-hour chart, there is a support level at 2.95, which, if violated, would cause prices to drop to 2.88. In the upper region, resistance lies at 3.10. The next price resistance is at 3.18. RSI (Relative Strength Index) is 30.67 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.55, which suggests the price will decrease in the coming days. Percent R is at 97.02%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is MacroGenics Inc. subject to short interest?
Stocks of MacroGenics Inc. saw a sharp steep in short interest on Jul 14, 2022 dropping by -0.9 million shares to 6.84 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 7.74 million shares. A decline of -13.16% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.12 of the overall float, the days-to-cover ratio (short ratio) decline to 3.12.
Which companies own the most shares of MacroGenics Inc. (MGNX)?
According to Bellevue Asset Management AG filings, the company currently owns 7,325,514 shares, which is about 11.92% of the total MGNX shares outstanding. With the completion of the buy transaction, Armistice Capital LLC’s stake is now worth $24,328,160. Wasatch Advisors, Inc. acquire a 8.63% interest valued at $17.43 million while BlackRock Fund Advisors purchased a 316,753 stake. A total of 0 shares of MacroGenics Inc. were bought by RTW Investments LP during the quarter, and -42,644 were sold by The Vanguard Group, Inc.. In its current portfolio, Millennium Management LLC holds 3,187,639 shares valued at $12.65 million.
In terms of MacroGenics Inc. share price expectations, FactSet research, analysts set an average price target of $10.72 in the next 12 months, up nearly 216.46% from the previous closing price of $3.16. Analysts anticipate MacroGenics Inc. stock to reach $20.00 by 2022, with the lowest price target being $5.00. On February 11, 2022, BMO Capital Markets assigned a price target of “an Outperform” to the stock and initiated coverage with a $31.