Brokerages Set MacroGenics, Inc. (NASDAQ:MGNX) PT at $3.60

MacroGenics, Inc. (NASDAQ:MGNX) has been given a consensus rating of “Hold” by the six brokerages that are currently covering the stock, Marketbeat reports. Four research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $3.60.

Several analysts recently commented on the stock. Wall Street Zen lowered shares of MacroGenics from a “hold” rating to a “sell” rating in a research note on Saturday, August 2nd. B. Riley cut their price objective on MacroGenics from $5.00 to $3.00 and set a “neutral” rating for the company in a research report on Tuesday, May 20th. Finally, Leerink Partners decreased their target price on MacroGenics from $8.00 to $5.00 and set an “outperform” rating on the stock in a report on Friday, August 15th.

MacroGenics Stock Down 5.8%

Shares of MacroGenics stock opened at $1.47 on Friday. The business has a fifty day simple moving average of $1.63 and a 200-day simple moving average of $1.59. MacroGenics has a fifty-two week low of $0.99 and a fifty-two week high of $5.10. The firm has a market cap of $92.92 million, a price-to-earnings ratio of -2.58 and a beta of 1.63.

MacroGenics (NASDAQ:MGNX) last released its earnings results on Thursday, August 14th. The biopharmaceutical company reported ($0.57) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.59) by $0.02. MacroGenics had a negative return on equity of 40.24% and a negative net margin of 21.99%.The firm had revenue of $22.24 million for the quarter, compared to analyst estimates of $28.06 million. Analysts anticipate that MacroGenics will post -1.06 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director William K. Heiden acquired 50,500 shares of the business’s stock in a transaction on Tuesday, August 19th. The shares were purchased at an average price of $1.52 per share, for a total transaction of $76,760.00. Following the acquisition, the director owned 61,500 shares in the company, valued at approximately $93,480. This represents a 459.09% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 13.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Armistice Capital LLC raised its holdings in shares of MacroGenics by 0.3% during the first quarter. Armistice Capital LLC now owns 6,296,000 shares of the biopharmaceutical company’s stock valued at $7,996,000 after acquiring an additional 20,000 shares during the period. Frazier Life Sciences Management L.P. grew its position in MacroGenics by 5.5% during the 4th quarter. Frazier Life Sciences Management L.P. now owns 3,175,665 shares of the biopharmaceutical company’s stock worth $10,321,000 after purchasing an additional 164,938 shares in the last quarter. Acadian Asset Management LLC grew its position in MacroGenics by 7.9% during the 2nd quarter. Acadian Asset Management LLC now owns 2,491,703 shares of the biopharmaceutical company’s stock worth $3,008,000 after purchasing an additional 183,054 shares in the last quarter. EcoR1 Capital LLC acquired a new stake in MacroGenics during the 2nd quarter valued at $1,939,000. Finally, Two Sigma Advisers LP lifted its holdings in shares of MacroGenics by 7.1% in the fourth quarter. Two Sigma Advisers LP now owns 1,118,600 shares of the biopharmaceutical company’s stock valued at $3,635,000 after purchasing an additional 74,596 shares in the last quarter. 96.89% of the stock is currently owned by institutional investors and hedge funds.

MacroGenics Company Profile

MacroGenics, Inc, a biopharmaceutical company, develops, manufactures, and commercializes antibody-based therapeutics to treat cancer in the United States. Its approved product is MARGENZA (margetuximab-cmkb), a human epidermal growth factor receptor 2 (HER2) receptor antagonist indicated, in combination with chemotherapy, for the treatment of adult patients with metastatic HER2-positive breast cancer who have received two or more prior anti-HER2 regimens.