Mangoceuticals (NASDAQ:MGRX) Posts Quarterly Earnings Results

Mangoceuticals (NASDAQ:MGRX) announced its quarterly earnings results on Wednesday. The company reported $0.13 earnings per share for the quarter, Zacks reports. Mangoceuticals had a negative net margin of 4,253.43% and a negative return on equity of 114.63%. The firm had revenue of $0.09 million during the quarter.

Mangoceuticals Price Performance

MGRX traded down $0.02 during trading hours on Thursday, reaching $0.35. 379,548 shares of the stock traded hands, compared to its average volume of 12,301,212. Mangoceuticals has a fifty-two week low of $0.16 and a fifty-two week high of $2.88. The company has a market cap of $5.62 million, a price-to-earnings ratio of -0.10 and a beta of 2.54. The firm’s fifty day simple moving average is $0.40 and its two-hundred day simple moving average is $1.15.

Institutional Trading of Mangoceuticals

Large investors have recently modified their holdings of the business. Virtu Financial LLC acquired a new position in shares of Mangoceuticals in the fourth quarter worth about $25,000. Boothbay Fund Management LLC acquired a new position in shares of Mangoceuticals in the 4th quarter valued at approximately $28,000. Jane Street Group LLC purchased a new position in shares of Mangoceuticals during the 4th quarter valued at approximately $35,000. Geode Capital Management LLC grew its position in shares of Mangoceuticals by 35.4% during the second quarter. Geode Capital Management LLC now owns 26,498 shares of the company’s stock worth $40,000 after buying an additional 6,928 shares in the last quarter. Finally, Ikarian Capital LLC bought a new stake in shares of Mangoceuticals in the fourth quarter worth $102,000. 56.72% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Mangoceuticals in a research note on Friday, March 27th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Sell”.

About Mangoceuticals

Mangoceuticals, Inc develops, markets, and sells various men's wellness products and services through a telemedicine platform in the United States. It offers erectile dysfunction (ED) products under the Mango brand and hair loss products under the Grow brand name. The company markets and sells these branded ED and hair loss products online through its website at MangoRx.com. Mangoceuticals, Inc has a marketing agreement with Marius Pharmaceuticals, LLC to market and sell KYZATREX, an oral testosterone replacement therapy product under the PRIME program.