MacroGenics, Inc. (NASDAQ:MGNX) Given Average Rating of “Hold” by Analysts

Shares of MacroGenics, Inc. (NASDAQ:MGNXGet Free Report) have earned an average recommendation of “Hold” from the six research firms that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $6.3333.

Several research firms have recently issued reports on MGNX. Weiss Ratings reissued a “sell (d-)” rating on shares of MacroGenics in a research note on Wednesday, August 5th. B. Riley Financial raised their price target on MacroGenics from $9.00 to $11.00 and gave the stock a “buy” rating in a research note on Monday, August 17th.

Get Our Latest Stock Analysis on MacroGenics

Insider Buying and Selling

In other news, VP Jeffrey Stuart Peters sold 31,105 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $4.15, for a total value of $129,085.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 13.60% of the company’s stock.

Hedge Funds Weigh In On MacroGenics

Institutional investors have recently bought and sold shares of the stock. Legal & General Group Plc bought a new stake in MacroGenics during the 2nd quarter valued at approximately $28,000. Walleye Capital LLC boosted its stake in MacroGenics by 31.8% during the fourth quarter. Walleye Capital LLC now owns 33,180 shares of the biopharmaceutical company’s stock worth $53,000 after acquiring an additional 8,000 shares in the last quarter. Cresset Asset Management LLC grew its holdings in MacroGenics by 52.3% in the second quarter. Cresset Asset Management LLC now owns 26,720 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 9,172 shares during the period. State of Wyoming grew its holdings in MacroGenics by 41.8% in the second quarter. State of Wyoming now owns 31,557 shares of the biopharmaceutical company’s stock worth $38,000 after purchasing an additional 9,295 shares during the period. Finally, Vanguard Group Inc. grew its holdings in MacroGenics by 0.3% in the third quarter. Vanguard Group Inc. now owns 4,224,234 shares of the biopharmaceutical company’s stock worth $7,097,000 after purchasing an additional 11,120 shares during the period. 96.89% of the stock is owned by institutional investors.

MacroGenics Price Performance

NASDAQ MGNX opened at $4.08 on Friday. MacroGenics has a 1 year low of $1.29 and a 1 year high of $5.08. The stock has a market capitalization of $259.90 million, a PE ratio of -18.55 and a beta of 1.20. The business’s 50-day moving average is $4.25 and its 200 day moving average is $3.54.

MacroGenics (NASDAQ:MGNXGet Free Report) last released its quarterly earnings results on Thursday, August 13th. The biopharmaceutical company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.39. MacroGenics had a negative return on equity of 109.26% and a negative net margin of 8.70%.The business had revenue of $32.83 million during the quarter, compared to analyst estimates of $59.14 million. As a group, equities research analysts anticipate that MacroGenics will post -1.48 earnings per share for the current year.

About MacroGenics

(Get Free Report)

MacroGenics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of monoclonal antibody–based therapeutics for the treatment of cancer and autoimmune diseases. The company leverages proprietary Fc engineering technologies to enhance immune engagement and extend the activity of its antibodies. Since its founding in 2000, MacroGenics has advanced several product candidates through clinical trials, most notably margetuximab, a HER2-targeted antibody designed to improve outcomes in patients with HER2-positive breast cancer.

Central to MacroGenics’ research platform are its ADAPTIR and Trident bispecific antibody technologies.

Further Reading

Analyst Recommendations for MacroGenics (NASDAQ:MGNX)

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