TheStreet cut shares of MacroGenics Inc. (NASDAQ:MGNX) from a hold rating to a sell rating in a report released on Tuesday.

A number of other research firms have also recently issued reports on MGNX. Citigroup Inc. cut shares of MacroGenics from a buy rating to a neutral rating and upped their price objective for the stock from $27.00 to $32.00 in a research report on Thursday, August 4th. Cowen and Company assumed coverage on shares of MacroGenics in a report on Wednesday, September 7th. They set an outperform rating on the stock. Zacks Investment Research raised shares of MacroGenics from a hold rating to a buy rating and set a $33.00 target price on the stock in a report on Wednesday, October 12th. Wedbush reissued an outperform rating and set a $52.00 target price on shares of MacroGenics in a report on Thursday, November 3rd. Finally, BTIG Research reissued a buy rating and set a $35.00 target price on shares of MacroGenics in a report on Monday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of Buy and an average price target of $36.57.

Shares of MacroGenics (NASDAQ:MGNX) opened at 27.88 on Tuesday. MacroGenics has a one year low of $14.84 and a one year high of $36.11. The firm’s market capitalization is $971.20 million. The company’s 50 day moving average is $26.74 and its 200-day moving average is $26.65.

MacroGenics (NASDAQ:MGNX) last released its quarterly earnings data on Wednesday, November 2nd. The biopharmaceutical company reported ($0.97) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.80) by $0.17. The company had revenue of $3.30 million for the quarter, compared to analyst estimates of $12.45 million. MacroGenics had a negative return on equity of 16.99% and a negative net margin of 55.01%. MacroGenics’s revenue for the quarter was down 77.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.46) earnings per share. Equities analysts expect that MacroGenics will post ($1.50) EPS for the current year.

In other MacroGenics news, CMO Jon Marc Wigginton sold 10,000 shares of the company’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $29.34, for a total transaction of $293,400.00. Following the transaction, the chief marketing officer now owns 10,000 shares in the company, valued at $293,400. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Lynn Cilinski sold 6,231 shares of the company’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $29.28, for a total transaction of $182,443.68. Following the transaction, the vice president now owns 8,154 shares in the company, valued at approximately $238,749.12. The disclosure for this sale can be found here. Corporate insiders own 6.78% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. American International Group Inc. increased its position in MacroGenics by 0.4% in the second quarter. American International Group Inc. now owns 18,352 shares of the biopharmaceutical company’s stock valued at $495,000 after buying an additional 65 shares during the last quarter. ProShare Advisors LLC increased its position in MacroGenics by 0.7% in the second quarter. ProShare Advisors LLC now owns 29,614 shares of the biopharmaceutical company’s stock valued at $799,000 after buying an additional 200 shares during the last quarter. State Board of Administration of Florida Retirement System increased its position in MacroGenics by 1.6% in the second quarter. State Board of Administration of Florida Retirement System now owns 15,981 shares of the biopharmaceutical company’s stock valued at $431,000 after buying an additional 253 shares during the last quarter. TIAA CREF Investment Management LLC increased its position in MacroGenics by 0.3% in the third quarter. TIAA CREF Investment Management LLC now owns 99,527 shares of the biopharmaceutical company’s stock valued at $2,977,000 after buying an additional 257 shares during the last quarter. Finally, Teacher Retirement System of Texas increased its position in MacroGenics by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 3,848 shares of the biopharmaceutical company’s stock valued at $104,000 after buying an additional 466 shares during the last quarter. Hedge funds and other institutional investors own 81.18% of the company’s stock.

MacroGenics Company Profile

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 operates through developing monoclonal antibody-based therapeutics for cancer, autoimmune and infectious diseases segment.

5 Day Chart for NASDAQ:MGNX

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