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

Shares of MacroGenics, Inc. (NASDAQ:MGNX) have earned a consensus recommendation of “Hold” from the six analysts that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $6.33.

A number of equities analysts have commented on MGNX shares. B. Riley Financial lifted their price objective on shares of MacroGenics from $9.00 to $11.00 and gave the stock a “buy” rating in a research note on Monday, August 17th. Weiss Ratings restated a “sell (d-)” rating on shares of MacroGenics in a research report on Wednesday, August 5th.

Insiders Place Their Bets

In other MacroGenics news, VP Jeffrey Peters sold 31,105 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The stock was 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 can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 13.60% of the stock is owned by insiders.

Hedge Funds Weigh In On MacroGenics

A number of institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. bought a new position in shares of MacroGenics during the 2nd quarter valued at approximately $21,618,000. Bank of America Corp DE bought a new stake in MacroGenics in the second quarter worth $11,496,000. Jefferies Financial Group Inc. purchased a new position in MacroGenics during the fourth quarter worth $2,964,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in MacroGenics during the second quarter worth $4,622,000. Finally, Wasatch Advisors LP increased its position in MacroGenics by 29.4% during the second quarter. Wasatch Advisors LP now owns 2,018,881 shares of the biopharmaceutical company’s stock valued at $9,327,000 after acquiring an additional 459,180 shares during the last quarter. Hedge funds and other institutional investors own 96.89% of the company’s stock.

MacroGenics Stock Performance

NASDAQ MGNX opened at $3.74 on Tuesday. The company has a market capitalization of $238.24 million, a P/E ratio of -17.00 and a beta of 1.22. MacroGenics has a one year low of $1.29 and a one year high of $5.08. The stock has a 50 day moving average price of $4.05 and a 200-day moving average price of $3.86.

MacroGenics (NASDAQ:MGNX) last announced 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 company had revenue of $32.83 million for the quarter, compared to analysts’ expectations of $59.14 million. MacroGenics had a negative net margin of 8.70% and a negative return on equity of 109.26%. As a group, equities analysts predict that MacroGenics will post -1.14 EPS for the current fiscal year.

MacroGenics Company Profile

MacroGenics, Inc is a biopharmaceutical company focused on developing antibody-based therapeutics for cancer and other serious diseases. Headquartered in Rockville, Maryland, the company uses its proprietary DART® and TRIDENT® platforms to design multispecific molecules intended to direct immune-system activity toward diseased cells or modify immune responses.

MacroGenics’ development programs have included treatments for hematologic malignancies, solid tumors and autoimmune diseases. Its products include MARGENZA® (margetuximab-cmkb), an antibody for certain patients with HER2-positive metastatic breast cancer, and ZYNYZ® (retifanlimab-dlwr), an immune checkpoint inhibitor approved in the United States for adults with metastatic or recurrent locally advanced Merkel cell carcinoma.