Macrogenics Inc (NASDAQ:MGNX) shares, rose in value, with the stock price up by 2.59% to the previous day’s close as strong demand from buyers drove the stock to $18.24.
Actively observing the price movement in the last trading, the stock closed the session at $17.78. The value of beta (5-year monthly) was 2.10. Referring to stock’s 52-week performance, its high was $21.88, and the low was $4.29. On the whole, MGNX has fluctuated by -15.04% over the past month.
With the market capitalization of Macrogenics Inc currently standing at about $1.14 billion, investors are eagerly awaiting this quarter’s results, scheduled for May 07, 2024 – May 13, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.64, which is expected to increase to -$0.42 for fiscal year -$2.55 and then to about -$1.02 by fiscal year 2025. Data indicates that the EPS growth is expected to be -1,600.00% in 2025, while the next year’s EPS growth is forecast to be 60.00%.
Analysts have estimated the company’s revenue for the quarter at $15.66 million, with a low estimate of $8.92 million and a high estimate of $30 million. According to the average forecast, sales growth in current quarter could jump down -36.10%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $66.79 million, representing an increase of 13.70% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that MGNX’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium term indicators have put the stock in the category of 100% Buy while long term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of MGNX currently trading nearly 15.97% and 11.23% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 61.75, while the 7-day volatility ratio is showing 10.96% which for the 30-day chart, stands at 8.66%. Furthermore, Macrogenics Inc (MGNX)’s beta value is 2.06, and its average true range (ATR) is 1.39.
A comparison of Macrogenics Inc (MGNX) with its peers suggests the former has fared considerably weaker in the market. MGNX showed an intraday change of 2.59% in last session, and over the past year, it grew by 145.16%%.
Data on historical trading for Macrogenics Inc (NASDAQ:MGNX) indicates that the trading volumes over the past 10 days have averaged 1.76 million and over the past 3 months, they’ve averaged 1.54 million. According to company’s latest data on outstanding shares, there are 62.07 million shares outstanding.
Nearly 6.21% of Macrogenics Inc’s shares belong to company insiders and institutional investors own 95.45% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 5.6 million shares as on Mar 15, 2024, resulting in a short ratio of 2.99. According to the data, the short interest in Macrogenics Inc (MGNX) stood at 8.97% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 6.38 million. The stock has risen by 89.60% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the MGNX stock heading into the next quarter.
