MacroGenics, Inc. (NASDAQ:MGNX) Stock Has Consensus Price Target of $6.33

Shares of MacroGenics, Inc. (NASDAQ:MGNX) have been assigned an average rating of “Hold” from the six brokerages that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and two have given a buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $6.33.

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

Insider Buying and Selling

In related news, VP Jeffrey Peters sold 31,105 shares of the 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 document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 13.60% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Spark Investment Management LLC bought a new position in shares of MacroGenics during the second quarter valued at approximately $79,000. Velan Capital Investment Management LP lifted its stake in shares of MacroGenics by 100.0% during the 2nd quarter. Velan Capital Investment Management LP now owns 60,000 shares of the biopharmaceutical company’s stock worth $277,000 after acquiring an additional 30,000 shares during the last quarter. Headlands Technologies LLC boosted its holdings in MacroGenics by 108.7% during the 2nd quarter. Headlands Technologies LLC now owns 99,188 shares of the biopharmaceutical company’s stock valued at $458,000 after acquiring an additional 51,657 shares during the period. Susquehanna Fundamental Investments LLC purchased a new position in MacroGenics during the 2nd quarter valued at $138,000. Finally, Two Sigma Securities LLC bought a new position in MacroGenics in the 2nd quarter valued at $63,000. Hedge funds and other institutional investors own 96.89% of the company’s stock.

MacroGenics Stock Performance

MGNX stock opened at $4.06 on Tuesday. The firm has a fifty day moving average price of $4.05 and a 200 day moving average price of $3.88. MacroGenics has a fifty-two week low of $1.29 and a fifty-two week high of $5.08. The firm has a market cap of $258.62 million, a PE ratio of -18.45 and a beta of 1.22.

MacroGenics (NASDAQ:MGNX) last announced its quarterly earnings results on Thursday, August 13th. The biopharmaceutical company reported $0.31 earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.39. MacroGenics had a negative net margin of 8.70% and a negative return on equity of 109.26%. The company had revenue of $32.83 million for the quarter, compared to analysts’ expectations of $59.14 million. On average, equities analysts predict that MacroGenics will post -1.14 EPS for the current year.

MacroGenics Company Profile

MacroGenics, Inc is a biopharmaceutical company focused on developing antibody-based therapeutics for cancer and other serious diseases. Headquartered in Rockville, Maryland, the company uses its proprietary DART® and TRIDENT® platforms to design multispecific molecules intended to direct immune-system activity toward diseased cells or modify immune responses.

MacroGenics’ development programs have included treatments for hematologic malignancies, solid tumors and autoimmune diseases. Its products include MARGENZA® (margetuximab-cmkb), an antibody for certain patients with HER2-positive metastatic breast cancer, and ZYNYZ® (retifanlimab-dlwr), an immune checkpoint inhibitor approved in the United States for adults with metastatic or recurrent locally advanced Merkel cell carcinoma.