BidaskClub Upgrades MacroGenics (MGNX) to “Hold”

MacroGenics (NASDAQ:MGNX) was upgraded by investment analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued on Tuesday.

MGNX has been the topic of a number of other research reports. Cowen restated a “buy” rating on shares of MacroGenics in a research note on Wednesday, October 25th. ValuEngine lowered MacroGenics from a “sell” rating to a “strong sell” rating in a research note on Tuesday, November 14th. Citigroup lifted their price target on MacroGenics from $18.00 to $22.00 and gave the company a “neutral” rating in a research note on Friday, November 10th. Zacks Investment Research lowered MacroGenics from a “hold” rating to a “sell” rating in a research note on Tuesday, February 6th. Finally, Raymond James Financial reiterated a “buy” rating on shares of MacroGenics in a research note on Monday, December 11th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $30.60.

MacroGenics (MGNX) opened at $23.85 on Tuesday. MacroGenics has a 52 week low of $14.36 and a 52 week high of $23.93. The company has a market capitalization of $878.22, a price-to-earnings ratio of -5.31 and a beta of 2.79.

In related news, SVP Jon Marc Wigginton sold 5,000 shares of the firm’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $20.00, for a total transaction of $100,000.00. Following the sale, the senior vice president now owns 35,000 shares of the company’s stock, valued at approximately $700,000. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Eric Blasius Risser sold 3,000 shares of the firm’s stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $22.50, for a total value of $67,500.00. Following the sale, the senior vice president now directly owns 12,100 shares in the company, valued at approximately $272,250. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,000 shares of company stock worth $267,500. Corporate insiders own 8.30% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MGNX. Prosight Management LP acquired a new stake in shares of MacroGenics during the 4th quarter valued at $11,546,000. Millennium Management LLC boosted its holdings in shares of MacroGenics by 619.4% during the 4th quarter. Millennium Management LLC now owns 482,301 shares of the biopharmaceutical company’s stock valued at $9,164,000 after acquiring an additional 415,262 shares in the last quarter. OppenheimerFunds Inc. boosted its holdings in shares of MacroGenics by 10.8% during the 4th quarter. OppenheimerFunds Inc. now owns 3,933,906 shares of the biopharmaceutical company’s stock valued at $74,744,000 after acquiring an additional 384,861 shares in the last quarter. Pinnacle Associates Ltd. boosted its holdings in shares of MacroGenics by 38.3% during the 3rd quarter. Pinnacle Associates Ltd. now owns 843,175 shares of the biopharmaceutical company’s stock valued at $15,582,000 after acquiring an additional 233,657 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of MacroGenics by 314.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 180,739 shares of the biopharmaceutical company’s stock valued at $3,165,000 after acquiring an additional 137,167 shares in the last quarter. 83.18% of the stock is currently owned by institutional investors.

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About MacroGenics

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 develops therapeutic product candidates using its antibody-based technology platforms and also in collaboration with other biopharmaceutical companies.

Analyst Recommendations for MacroGenics (NASDAQ:MGNX)

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