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 $799,148 were sold by Peters Jeffrey Stuart on Apr 04 ’24. At $15.55 per share, Peters Jeffrey Stuart sold 51,395 shares. The insider’s holdings dropped to 0 shares worth approximately $0.0 following the completion of this transaction.
Also, Peters Jeffrey Stuart sold 19,625 shares, netting a total of over 421,938 in proceeds. Following the sale of shares at $21.50 each, the insider now holds 8,895 shares.
Before that, Risser Eric Blasius had sold 41,159 shares from its account. In a trade valued at $813,501, the Chief Operating Officer traded Macrogenics Inc shares for $19.76 each. Upon closing the transaction, the insider’s holdings decreased to 41,159 shares, worth approximately $0.72 million.
As published in a research note from TD Cowen on April 09, 2024, Macrogenics Inc [MGNX] has been rated up from a Hold to a Buy. Analysts at BTIG Research resumed the stock at ‘”a Buy”‘ outlook in a report released in early March. As of February 14, 2024, H.C. Wainwright has decreased its “Buy” rating to a “Neutral” for MGNX. Earlier on December 20, 2023, Citigroup upgraded its rating. Their new recommendation was “a Buy” for MGNX stock which previously was a “a Neutral”.
Analyzing MGNX Stock Performance
During the last five days, there has been a surge of approximately 4.11%. Over the course of the year, Macrogenics Inc shares have jumped approximately 92.41%. Shares of the company reached a 52-week high of $21.88 on 03/06/24 and a 52-week low of $9.33 on 01/02/24. A 50-day SMA is recorded $16.91, while a 200-day SMA reached $9.21. Nevertheless, trading volume fell to 1.16 million shares from 1.59 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 17.95, which, if violated, would cause prices to drop to 17.40. In the upper region, resistance lies at 19.07. The next price resistance is at 19.64. RSI (Relative Strength Index) is 62.36 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.36, which suggests the price will increase in the coming days. Percent R is at 15.34%, indicating bullish price movement. Stochastics %K at selling 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 Mar 15, 2024 dropping by -0.78 million shares to 5.6 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 6.38 million shares. A decline of -13.93% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.99 of the overall float, the days-to-cover ratio (short ratio) decline to 2.99.
