Insider Selling: Mangoceuticals (NASDAQ:MGRX) CFO Sells 10,000 Shares of Stock

Mangoceuticals, Inc. (NASDAQ:MGRX) CFO Eugene Johnston sold 10,000 shares of Mangoceuticals stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $1.13, for a total transaction of $11,300.00. Following the sale, the chief financial officer owned 128,333 shares of the company’s stock, valued at approximately $145,016.29. This trade represents a 7.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Mangoceuticals Stock Up 8.0%

Shares of MGRX traded up $0.09 on Tuesday, hitting $1.22. 285,170 shares of the stock traded hands, compared to its average volume of 522,298. The firm has a market capitalization of $16.97 million, a P/E ratio of -0.34 and a beta of 2.57. Mangoceuticals, Inc. has a 1 year low of $0.98 and a 1 year high of $6.15. The stock’s 50 day moving average is $1.83 and its two-hundred day moving average is $1.87.

Mangoceuticals (NASDAQ:MGRX) last issued its quarterly earnings results on Friday, November 14th. The company reported ($0.69) earnings per share for the quarter. Mangoceuticals had a negative net margin of 4,253.43% and a negative return on equity of 114.63%. The business had revenue of $0.08 million during the quarter.

Hedge Funds Weigh In On Mangoceuticals

An institutional investor recently raised its position in Mangoceuticals stock. Geode Capital Management LLC lifted its holdings in shares of Mangoceuticals, Inc. (NASDAQ:MGRX) by 35.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,498 shares of the company’s stock after acquiring an additional 6,928 shares during the quarter. Geode Capital Management LLC owned about 0.51% of Mangoceuticals worth $40,000 as of its most recent filing with the Securities and Exchange Commission. 56.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Mangoceuticals in a research report on Monday. Wall Street Zen lowered shares of Mangoceuticals from a “hold” rating to a “sell” rating in a report on Saturday, November 22nd. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has an average rating of “Sell”.

Mangoceuticals Company Profile

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.