MacroGenics Inc. (MGNX) lost ground during morning trading on April 21 to make it one of the worst performers amongst all NYSE and NASDAQ listed stocks in the health care sector halfway through the trading day. At the lunch break, shares of MGNX have fallen 3.8% to $20.0 after closing the day prior at $20.79. So far, the stock has traded as high as $20.71 and as low as $19.81. Today’s decline has come with about 206,389 shares changing hands, compared to an average 30-day volume of 277,228 for MacroGenics Inc.. The price is currently below the 30-day volume weighted average price of $20.17 for MGNX.
The share depreciation gives the company a market capitalization of $727.19 million based upon 34.98 million shares outstanding. It also means that MGNX has a price-to-book ratio of 2.62:1.
In the past 52 weeks, shares of MGNX have traded as low as $16.28 and as high as $33.3. Technical traders will take note that at $20.0, shares of MGNX are trading below their 200-day MA at $24.36 and above their 50-day MA at $19.12. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding below them is typically regarded as bearish.
Who is MGNX?
Macrogenics Inc is a clinical-stage biopharmaceutical company focused on discovering and developing monoclonal antibody-based therapeutics for the treatment of cancer, as well as various autoimmune disorders and infectious diseases. The company’s 318 employees are led by CEO Scott Koenig from the corporate headquarters at 9640 Medical Center Drive in Rockville, MD.
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