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

MacroGenics, Inc. (NASDAQ:MGNX) has been assigned a consensus rating of “Hold” from the six ratings firms that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $6.3333.

Several research analysts have recently weighed in on the stock. B. Riley Financial boosted their price objective on shares of MacroGenics from $9.00 to $11.00 and gave the company a “buy” rating in a report on Monday, August 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of MacroGenics in a report on Wednesday, August 5th.

Insider Activity

In other news, VP Jeffrey Stuart Peters sold 31,105 shares of the company’s stock in a transaction on Wednesday, August 19th. The stock was 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 Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 13.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On MacroGenics

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Velan Capital Investment Management LP grew its holdings in MacroGenics by 100.0% during the 2nd quarter. Velan Capital Investment Management LP now owns 60,000 shares of the biopharmaceutical company’s stock valued at $277,000 after buying an additional 30,000 shares in the last quarter. Headlands Technologies LLC increased its position in MacroGenics by 108.7% in the second quarter. Headlands Technologies LLC now owns 99,188 shares of the biopharmaceutical company’s stock worth $458,000 after purchasing an additional 51,657 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in MacroGenics in the second quarter worth $138,000. Two Sigma Securities LLC bought a new stake in MacroGenics during the second quarter worth approximately $63,000. Finally, Wellington Management Group LLP bought a new stake in MacroGenics during the second quarter worth approximately $204,000. 96.89% of the stock is owned by institutional investors.

MacroGenics Trading Up 1.0%

MGNX stock opened at $4.08 on Friday. The stock’s 50 day simple moving average is $4.25 and its 200 day simple moving average is $3.54. MacroGenics has a 12-month low of $1.29 and a 12-month high of $5.08. The stock has a market capitalization of $259.90 million, a PE ratio of -18.55 and a beta of 1.20.

MacroGenics (NASDAQ:MGNX) last posted 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. The firm had revenue of $32.83 million during the quarter, compared to analysts’ expectations of $59.14 million. MacroGenics had a negative return on equity of 109.26% and a negative net margin of 8.70%. On average, research analysts predict that MacroGenics will post -1.48 earnings per share for the current 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.