Macrogenics, Inc. | MGNX

Daily Technical Analysis of Macrogenics, Inc.

Geez, brutal day for Macrogenics, investors dumped shares on the market and there weren't too many buyers interested in picking them up which causes price to plunge. Negative outlook for the company may continue to hammer the stock. We'll see if we hit bottom here and get some buyers to come in fishing for value. It looks like MGNX may be interacting with a slightly angled support line. This area could represent a pivot point that it moves up from. Macrogenics hasn't been that impressive in terms of its 3 month momentum, it has been breaking down lower so we'll see if it can turn things around and move up from here.

If the price bounces off of the support and moves up it'll probably head up to the $2.4 level, at which point it may hit some selling pressure. There aren't very obvious support levels beneath this point. So put those stop losses on, this thing has room to fall if buyers don't come in at this level.

Analyst Ratings for Macrogenics By Price Target And Rating

The analysts are pretty neutral on MacroGenics right now, so not much useful information here. The current Analysts Sentiment Score is 2.50. Most companies range between (-200 to 200).

Here's a break down of the latest rating changes. BTIG Research gave a boost to their price target and moved to $24.00 from $12.00 on 2024-03-04. On 2024-02-29 Barclays increased their price target by 91.67% to $23.00. On 2024-02-14 HC Wainwright downgraded MacroGenics from Buy to Neutral but moved up their price target to $14.00 which is a 16.67% increase. JMP Securities gave a boost to their price target and moved to $16.00 from $10.00 on 2024-01-24. Citigroup upgraded from Neutral to Buy on 2023-12-20 and also increased their price target by 85.71% to $13.00. Stifel Nicolaus reiterated a rating of Buy on 2023-11-27 and provided a price target of $17.00. Guggenheim upgraded from Neutral to Buy on 2023-11-07 and they set their price target at $12.00.

Earnings Per Share (EPS) Estimates By Year and Quarter

Short interest for MacroGenics

We take into account several different measures of short interest to create a composite score. These measures are shown in the chart below. Short selling is when investors are betting against a stock. We compile these factors to create a dynamic Short Score - this can indicate poor sentiment, internal problems with a company or industry and the anticipation of future price declines. We look at the short interest percent, days to cover, the rate of change and total shares sold short.

Social Sentiment for MacroGenics

Social Sentiment is an aggregation of several different factors such as news, articles, blogs, user content, ratings, etc. Which is shown in the chart below. It may become predictive of a reversal if price and the sentiment diverge. Broader market forces may push prices up or down but if market participants maintain a different view on a specific stock, it may be taken as an opportunity to buy or sell in those cases.