MacroGenics (MGNX) Stock

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Contributor, Benzinga
October 28, 2021
$16.21
0.80[5.19%]
Last update: 4:05PM (Delayed 15-Minutes)
Get Real Time Here
Open15.650Close16.230
Vol / Avg.646.319K / 1.551MMkt Cap1.014B
Day Range15.600 - 16.58552 Wk Range4.290 - 21.880

Cancer treatments have continued to improve over time. MacroGenics (NASDAQ: MGNX) focuses on developing and commercializing innovative monoclonal antibody-based therapeutics. This biotechnology company is doing more than working on the treatment of cancer. As a clinical stage biopharmaceutical company, it wants to work with therapeutic candidates and provide as many clinical studies as possible.

The company generates its product from next-generation antibody-based technology platforms and leverages partnerships with a therapeutic focus geared toward developing a broad portfolio of pipeline candidates.

Founded in 2000, MacroGenetics is headquartered in Rockville, Maryland. Learn more about MacroGenetics now. 

MGNX Stock Price

$16.21
0.80[5.19%]
Last update: 4:05PM (Delayed 15-Minutes)
Get Real Time Here
Open15.650Close16.230
Vol / Avg.646.319K / 1.551MMkt Cap1.014B
Day Range15.600 - 16.58552 Wk Range4.290 - 21.880

MacroGenics stock started the year relatively strong, reaching highs of $36.48 by April 28, representing a gain of 58% compared to the start of the year. However, in the last 6 months, its shares tumbled 45.37%, putting it down 15.66% in 2021.

MGNX shares are currently trading around previous lows, but the current level is holding firm, which suggests there is the potential for shares to turn around or at least pull back higher in the short term. It will be essential to keep an eye on its moves over the coming days and weeks.

A key competitor of MGNX is Forte Biosciences, which has shown similar trading patterns this year. The start of the year saw fluctuations, although the company has since lost over 90% in the last 3 months after failing to meet statistical significance in a particular treatment. Forte’s market cap is currently $37.31 million due to the hit in its share price, compared to $1.17 billion for MacroGenics. 

MGNX Stock Forecast

Recent Wall Street analysts have indicated the stock still has much room to gain, with the most optimistic of analysts predicting a surge to $44. The firm was recently initiated with an outperform at JMP Securities, with analyst Silvan Tuerkcan placing a price target of $39 on the shares. 

According to Wall Street analysts, the company is potentially looking at better than expected earnings, further backing the argument for future strength in the stock, especially as the company finds more promising product candidates.

MGNX Stock News

MacroGenics has reported important news in recent weeks. As a result, investors interested in buying shares in the company should make sure to add it to their watchlist.

Furthermore, MacroGenics reported Q2 earnings a few months back. It provided updates on some of its programs, including MGC018, Margetuximab and many more. 

Cash or cash equivalents were $298.3 million, compared to $272.5 million at the end of 2020. Revenue was $30.8 million for the second quarter, including $3.2 million net sales of MARGENZA. It reported a net loss of $39.9 million compared to $46.9 million in the same quarter of 2020. 

How to Buy MacroGenics Stock

Not all brokers will carry MacroGenics, but if your current broker does, all you need to do is search for MGNX on the platform, open a trade ticket, fill in the details and click submit or buy to acquire shares in MGNX. 

However, if your broker does not allow you to buy MGNX shares, or you don’t yet have a brokerage account, then here’s what you need to do.

Find a brokerage.

A broker acts as the intermediary between you and the stock exchange (in this case, the Nasdaq). The customer places an order via their broker to buy a stock, and the broker carries out those instructions. If you decide to purchase shares in MGNX, you instruct your broker to buy the number of shares you request at the price you set, and it carries out those instructions. 

In return, the broker charges you a fee for its services. The fee varies depending on the broker. It is vital to research costs and other aspects before setting up an account.

Decide how many shares you want to buy.

Once you have chosen a broker, you need to fund your account and decide how many shares to buy. Take into account the amount of risk you want to take and the percentage of your account attributed to MGNX. 

Starting with a small investment and adding consistently over time is a strategy used by many investors. However, before you make your purchase, consider how you will enter the market. 

Choose your order type.

This stage requires you to decide on how your position is executed. Different order types exist, but the primary 2 you need to know are market and limit orders. 

Market orders mean you acquire the shares at a price dictated by the market. Or, in other words, you buy at the current market price. Therefore, using market orders results in a high chance your order will be filled. 

Limit orders mean that the price you buy the stock at is decided by you. You can determine what price you buy the shares at, but you face the risk that the order won’t be filled if the price doesn’t hit your predetermined level. 

Buy the shares.

After you have completed all the necessary steps to put you in a position to buy the shares, all that is left to do is just that — buy the shares. Once you have opened the trade ticket and completed the required fields, the last thing to do is click buy. Then you can monitor the stock and your other positions by navigating to the correct tab on your brokerage platform.

Best Online Stock Brokers for MGNX Stock

MacroGenics shares are listed on the Nasdaq and therefore are likely to be offered by the majority of brokers. However, there will still be some brokers that do not provide the stock as a tradeable asset. View the table below to find the best online brokers for MGNX shares.

MGNX on Benzing Pro

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Screenshot taken from Benzinga Pro on 10-28-2021

MGNX shares had a strong start to the year but have been on a steep decline since now sitting firmly in the red for 2021.

Since it crossed below the 50MA back in May, the level has held relatively firm, only breaking back above a couple of times before quickly turning around, which shows that even a break above can be unconvincing. Thus, it may need a boost from the fundamental factors to see a sustained climb higher.

There has been little to gain from the RSI with it not approaching oversold or overbought territory for some time. There was a pullback when it last fell below the 30 level, but a sharp decline quickly followed that. Relying on the RSI for a buy signal may not be the best approach for the current conditions for MGNX stock. 

An Unpredictable Industry

The pharmaceutical industry can be unpredictable, and difficult to make correct assumptions over the long term. As seen previously, MGNX share prices have fluctuated due to excessive trials and potential failures with experimental drugs. The company has shown tremendous strides in new drug development; however, a report that falls short tends to impact its stock price significantly.

While MacroGenics seems to be a company with a positive outlook, any potential investors should first make sure they understand the industry and potential pitfalls.

Frequently Asked Questions

Q

Is MacroGenics a public company?

A

Yes. MacroGenics announced its initial public offering of 5,000,000 shares in October 2013, initially at a price of $16 per share.

Q

What size of a company is MacroGenics?

A

The company has grown over time and currently has 384 employees. MacroGenics reported revenue of $104.9 million for FY 2020.

About Sam Boughedda, Stock Market Analyst

He is an expert in the following spaces: stock market news writing, analysis, and research.