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

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

MGNX has been the topic of a number of research analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of MacroGenics in a report on Monday, December 22nd. Barclays increased their price objective on MacroGenics from $3.00 to $4.00 and gave the stock an “overweight” rating in a research note on Tuesday. Citigroup restated a “market perform” rating on shares of MacroGenics in a research report on Tuesday, February 24th. Finally, Zacks Research cut MacroGenics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 1st.

Institutional Trading of MacroGenics

Several institutional investors have recently made changes to their positions in the stock. Jefferies Financial Group Inc. acquired a new position in MacroGenics in the 4th quarter valued at approximately $2,964,000. EcoR1 Capital LLC purchased a new stake in MacroGenics in the 2nd quarter worth approximately $1,939,000. Renaissance Technologies LLC boosted its stake in shares of MacroGenics by 71.0% during the 4th quarter. Renaissance Technologies LLC now owns 2,908,631 shares of the biopharmaceutical company’s stock valued at $4,683,000 after buying an additional 1,207,408 shares during the period. Marshall Wace LLP boosted its stake in shares of MacroGenics by 104.0% during the 4th quarter. Marshall Wace LLP now owns 1,284,563 shares of the biopharmaceutical company’s stock valued at $2,068,000 after buying an additional 655,028 shares during the period. Finally, Jane Street Group LLC grew its holdings in shares of MacroGenics by 207.7% during the 2nd quarter. Jane Street Group LLC now owns 758,204 shares of the biopharmaceutical company’s stock valued at $917,000 after acquiring an additional 511,777 shares in the last quarter. 96.89% of the stock is currently owned by institutional investors and hedge funds.

MacroGenics Stock Performance

MacroGenics stock opened at $3.12 on Friday. MacroGenics has a 52 week low of $0.99 and a 52 week high of $3.54. The firm has a market capitalization of $198.31 million, a price-to-earnings ratio of -2.67 and a beta of 1.45. The company has a 50 day moving average price of $1.90 and a 200 day moving average price of $1.71.

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

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.