It Seems MacroGenics, Inc. (MGNX) Will Go Up. Formed A Few Months Bullish Wedge Up Pattern

February 21, 2018 - By Michael Collier

Investors sentiment decreased to 1.58 in Q3 2017. Its down 0.15, from 1.73 in 2017Q2. It worsened, as 7 investors sold MacroGenics, Inc. shares while 26 reduced holdings. 11 funds opened positions while 41 raised stakes. 27.72 million shares or 0.96% more from 27.45 million shares in 2017Q2 were reported.
Moreover, Tocqueville Asset Management Limited Partnership has 0.02% invested in MacroGenics, Inc. (NASDAQ:MGNX). Art Advsr Limited Liability Company, a New York-based fund reported 34,193 shares. Wasatch Advisors invested in 0.26% or 1.04 million shares. Tudor Invest Corp Et Al, Connecticut-based fund reported 20,029 shares. 100 were reported by Perigon Wealth Management Ltd. 3,346 were reported by Bnp Paribas Arbitrage Sa. Retail Bank Of America De owns 23,662 shares. Rhumbline Advisers holds 0% of its portfolio in MacroGenics, Inc. (NASDAQ:MGNX) for 40,500 shares. Nationwide Fund Advsrs has 0% invested in MacroGenics, Inc. (NASDAQ:MGNX). Macquarie Group Inc Limited invested in 50,000 shares or 0% of the stock. Point72 Asia (Hong Kong) Ltd accumulated 87 shares or 0% of the stock. 74,189 were reported by Morgan Stanley. Alliancebernstein Lp invested in 0% or 43,000 shares. Invesco holds 16,168 shares. Zurcher Kantonalbank (Zurich Cantonalbank) owns 1,465 shares for 0% of their portfolio.

Since October 25, 2017, it had 0 buys, and 3 selling transactions for $367,500 activity. Shares for $100,000 were sold by Wigginton Jon Marc on Tuesday, January 16.

The stock of MacroGenics, Inc. (MGNX) formed an up wedge with $24.13 target or 4.00 % above today’s $23.20 share price. The 8 months wedge indicates low risk for the $854.29 million company. If the $24.13 price target is reached, the company will be worth $34.17 million more.
Rising wedges, especially for downward breakouts are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 8% and 24%. The average rise is 28% and the decline is 14%. Wedges has high throwback and pullback rate: 73%, 63% and the percent of wedges meeting target is not more than 50%.

The stock decreased 0.43% or $0.1 during the last trading session, reaching $23.2. About 180,999 shares traded. MacroGenics, Inc. (NASDAQ:MGNX) has declined 9.76% since February 21, 2017 and is downtrending. It has underperformed by 26.46% the S&P500.

Analysts await MacroGenics, Inc. (NASDAQ:MGNX) to report earnings on February, 27 after the close. They expect $2.58 EPS, up 358.00 % or $3.58 from last year’s $-1 per share. MGNX’s profit will be $95.00 million for 2.25 P/E if the $2.58 EPS becomes a reality. After $-1.28 actual EPS reported by MacroGenics, Inc. for the previous quarter, Wall Street now forecasts -301.56 % EPS growth.

MacroGenics, Inc. (NASDAQ:MGNX) Ratings Coverage

Among 10 analysts covering MacroGenics (NASDAQ:MGNX), 8 have Buy rating, 0 Sell and 2 Hold. Therefore 80% are positive. MacroGenics had 22 analyst reports since August 6, 2015 according to SRatingsIntel. Citigroup initiated MacroGenics, Inc. (NASDAQ:MGNX) on Thursday, September 17 with “Neutral” rating. As per Friday, November 10, the company rating was maintained by Citigroup. Morgan Stanley initiated MacroGenics, Inc. (NASDAQ:MGNX) rating on Thursday, February 25. Morgan Stanley has “Equal-Weight” rating and $20 target. The firm earned “Buy” rating on Monday, October 19 by Citigroup. The firm has “Buy” rating by Stifel Nicolaus given on Monday, September 11. Leerink Swann maintained the shares of MGNX in report on Wednesday, October 25 with “Buy” rating. The firm has “Buy” rating given on Friday, January 19 by BTIG Research. Citigroup downgraded the shares of MGNX in report on Thursday, August 4 to “Neutral” rating. Stifel Nicolaus maintained the stock with “Buy” rating in Thursday, August 6 report. Janney Capital initiated it with “Buy” rating and $36 target in Thursday, February 18 report.

Another recent and important MacroGenics, Inc. (NASDAQ:MGNX) news was published by Globenewswire.com which published an article titled: “MacroGenics Announces Date of Fourth Quarter and Full Year 2017 Financial …” on February 14, 2018.

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