MacroGenics, Inc. (NASDAQ:MGNX) Stock Now Rated “Hold” by Sell-Side Analysts

MacroGenics, Inc. (NASDAQ:MGNX) has received an average rating of “Hold” from the six brokerages that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $6.33.

Several research analysts have commented on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MacroGenics in a report on Wednesday, August 5th. Citigroup started coverage on MacroGenics in a research report on Friday. They issued a “positive” rating on the stock. Finally, B. Riley Financial increased their price target on MacroGenics from $9.00 to $11.00 and gave the company a “buy” rating in a research note on Monday, August 17th.

Insider Transactions at MacroGenics

In other MacroGenics news, VP Jeffrey Peters sold 31,105 shares of the company’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $4.15, for a total transaction of $129,085.75. The sale was disclosed in a legal filing with the SEC, which is available at 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.

Hedge Funds Weigh In On MacroGenics

Several institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new stake in MacroGenics in the 2nd quarter valued at about $21,618,000. Renaissance Technologies LLC raised its stake in MacroGenics by 1.9% during the 1st quarter. Renaissance Technologies LLC now owns 2,963,559 shares of the biopharmaceutical company’s stock worth $8,565,000 after buying an additional 54,928 shares during the period. Bank of America Corp DE bought a new position in MacroGenics in the second quarter worth approximately $11,496,000. Wasatch Advisors LP boosted its holdings in MacroGenics by 29.4% in the second quarter. Wasatch Advisors LP now owns 2,018,881 shares of the biopharmaceutical company’s stock worth $9,327,000 after acquiring an additional 459,180 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in MacroGenics in the second quarter worth approximately $4,622,000. 96.89% of the stock is owned by institutional investors and hedge funds.

MacroGenics Stock Performance

Shares of MGNX opened at $2.25 on Friday. MacroGenics has a 52 week low of $1.29 and a 52 week high of $5.08. The stock has a market capitalization of $143.32 million, a price-to-earnings ratio of -10.23 and a beta of 1.20. The stock has a fifty day moving average of $3.87 and a 200-day moving average of $3.94.

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

About MacroGenics

MacroGenics, Inc is a biopharmaceutical company focused on developing antibody-based therapies for cancer and immune-mediated diseases. Headquartered in Rockville, Maryland, the company uses its proprietary DART platform and other antibody technologies to create treatments designed to modulate immune responses and target disease-associated cells.

MacroGenics’ portfolio includes MARGENZA (margetuximab-cmkb), an antibody therapy approved in the United States for certain patients with HER2-positive metastatic breast cancer.