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

Shares of MacroGenics, Inc. (NASDAQ:MGNX) have been assigned a consensus recommendation of “Hold” from the seven research firms that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $5.50.

Several equities research analysts have commented on MGNX shares. Wall Street Zen upgraded shares of MacroGenics from a “sell” rating to a “hold” rating in a research note on Saturday, March 14th. B. Riley Financial raised MacroGenics from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $3.00 to $9.00 in a report on Friday, April 10th. Barclays raised their target price on MacroGenics from $4.00 to $6.00 and gave the company an “overweight” rating in a research report on Monday, April 20th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MacroGenics in a research note on Friday, May 8th.

MacroGenics Stock Down 1.9%

MGNX stock opened at $4.66 on Thursday. MacroGenics has a fifty-two week low of $1.29 and a fifty-two week high of $5.08. The firm’s 50-day simple moving average is $4.09 and its 200 day simple moving average is $2.94. The stock has a market cap of $296.19 million, a PE ratio of -4.24 and a beta of 1.18.

MacroGenics (NASDAQ:MGNX) last issued its quarterly earnings data on Wednesday, May 13th. The biopharmaceutical company reported ($0.58) earnings per share for the quarter, missing the consensus estimate of ($0.57) by ($0.01). The firm had revenue of $20.77 million during the quarter, compared to the consensus estimate of $15.24 million. MacroGenics had a negative net margin of 44.79% and a negative return on equity of 147.80%. Equities analysts forecast that MacroGenics will post -1.76 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Walleye Capital LLC grew its position in MacroGenics by 31.8% in the 4th quarter. Walleye Capital LLC now owns 33,180 shares of the biopharmaceutical company’s stock valued at $53,000 after buying an additional 8,000 shares in the last quarter. Cresset Asset Management LLC boosted its holdings in shares of MacroGenics by 52.3% in the second quarter. Cresset Asset Management LLC now owns 26,720 shares of the biopharmaceutical company’s stock valued at $32,000 after acquiring an additional 9,172 shares in the last quarter. State of Wyoming increased its stake in shares of MacroGenics by 41.8% during the second quarter. State of Wyoming now owns 31,557 shares of the biopharmaceutical company’s stock valued at $38,000 after acquiring an additional 9,295 shares during the period. Vanguard Group Inc. increased its stake in shares of MacroGenics by 0.3% during the third quarter. Vanguard Group Inc. now owns 4,224,234 shares of the biopharmaceutical company’s stock valued at $7,097,000 after acquiring an additional 11,120 shares during the period. Finally, Seven Fleet Capital Management LP bought a new stake in MacroGenics during the first quarter worth approximately $39,000. 96.89% of the stock is owned by institutional investors and hedge funds.

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.