MacroGenics, Inc. (NASDAQ:MGNX) Receives $3.80 Average PT from Brokerages

MacroGenics, Inc. (NASDAQ:MGNX) has been given an average rating of “Hold” by the eight ratings firms that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and two have given a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $3.80.

MGNX has been the subject of a number of research analyst reports. Wall Street Zen upgraded shares of MacroGenics from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. Zacks Research downgraded shares of MacroGenics from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 1st. Barclays raised their target price on MacroGenics from $3.00 to $4.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of MacroGenics in a research report on Monday, December 22nd. Finally, Citigroup reissued a “market perform” rating on shares of MacroGenics in a research report on Tuesday, February 24th.

MacroGenics Stock Performance

NASDAQ MGNX opened at $3.18 on Tuesday. MacroGenics has a 52-week low of $0.99 and a 52-week high of $3.54. The company has a 50-day simple moving average of $2.32 and a 200 day simple moving average of $1.86. The company has a market capitalization of $202.11 million, a PE ratio of -2.72 and a beta of 1.09.

MacroGenics (NASDAQ:MGNX) last posted its quarterly earnings data on Monday, March 9th. The biopharmaceutical company reported ($0.22) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.20. MacroGenics had a negative net margin of 49.91% and a negative return on equity of 120.19%. The business had revenue of $41.23 million during the quarter, compared to the consensus estimate of $27.81 million. As a group, analysts forecast that MacroGenics will post -1.06 EPS for the current fiscal year.

Institutional Trading of MacroGenics

Large investors have recently bought and sold shares of the company. SG Americas Securities LLC increased its stake in shares of MacroGenics by 55.9% in the third quarter. SG Americas Securities LLC now owns 17,179 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 6,161 shares in the last quarter. Walleye Capital LLC increased its stake in shares of MacroGenics by 31.8% in the fourth quarter. Walleye Capital LLC now owns 33,180 shares of the biopharmaceutical company’s stock worth $53,000 after purchasing an additional 8,000 shares in the last quarter. Cresset Asset Management LLC increased its stake in shares of 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 in the last quarter. State of Wyoming increased its stake in shares of 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 in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of 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 in the last quarter. 96.89% of the stock is owned by hedge funds and other institutional investors.

MacroGenics Company Profile

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.