MacroGenics (NASDAQ:MGNX) PT Lowered to $4.00 at HC Wainwright

MacroGenics (NASDAQ:MGNX) had its price target decreased by investment analysts at HC Wainwright from $16.00 to $4.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the biopharmaceutical company’s stock. HC Wainwright’s price target points to a potential downside of 7.83% from the stock’s current price.

Other equities research analysts have also issued reports about the company. BMO Capital Markets lowered MacroGenics from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $24.00 to $8.00 in a report on Friday. Stifel Nicolaus lowered MacroGenics from a “buy” rating to a “hold” rating and reduced their target price for the stock from $29.00 to $7.00 in a report on Friday. TheStreet lowered MacroGenics from a “c” rating to a “d” rating in a report on Thursday, March 7th. Barclays reduced their target price on MacroGenics from $25.00 to $14.00 and set an “overweight” rating for the company in a report on Friday. Finally, B. Riley assumed coverage on MacroGenics in a report on Friday, April 26th. They issued a “buy” rating and a $25.00 target price for the company. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.67.

MacroGenics Stock Performance

Shares of MacroGenics stock traded up $1.03 during trading on Monday, hitting $4.34. 15,465,598 shares of the stock traded hands, compared to its average volume of 1,914,313. The stock has a market cap of $271.51 million, a P/E ratio of -10.87 and a beta of 2.09. MacroGenics has a twelve month low of $3.14 and a twelve month high of $21.88. The company has a fifty day moving average price of $16.00 and a two-hundred day moving average price of $12.72.

MacroGenics (NASDAQ:MGNX) last announced its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.84) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.67) by ($0.17). The firm had revenue of $9.10 million for the quarter, compared to analyst estimates of $13.63 million. MacroGenics had a negative net margin of 53.60% and a negative return on equity of 98.01%. On average, equities research analysts expect that MacroGenics will post -2.79 EPS for the current fiscal year.

Insiders Place Their Bets

In other MacroGenics news, VP Jeffrey Stuart Peters sold 16,124 shares of MacroGenics stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $17.22, for a total value of $277,655.28. Following the transaction, the vice president now directly owns 8,895 shares of the company’s stock, valued at approximately $153,171.90. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 11.30% of the company’s stock.

Institutional Trading of MacroGenics

A number of institutional investors and hedge funds have recently modified their holdings of the company. ProShare Advisors LLC increased its position in shares of MacroGenics by 8.9% during the first quarter. ProShare Advisors LLC now owns 15,282 shares of the biopharmaceutical company’s stock valued at $225,000 after purchasing an additional 1,246 shares during the period. Susquehanna Fundamental Investments LLC increased its position in shares of MacroGenics by 597.4% during the first quarter. Susquehanna Fundamental Investments LLC now owns 105,787 shares of the biopharmaceutical company’s stock valued at $1,557,000 after purchasing an additional 90,619 shares during the period. Swiss National Bank bought a new stake in shares of MacroGenics during the first quarter valued at approximately $1,351,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of MacroGenics by 15.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 57,060 shares of the biopharmaceutical company’s stock valued at $840,000 after purchasing an additional 7,723 shares during the period. Finally, Principal Financial Group Inc. increased its position in shares of MacroGenics by 28.6% during the first quarter. Principal Financial Group Inc. now owns 344,603 shares of the biopharmaceutical company’s stock valued at $5,073,000 after purchasing an additional 76,727 shares during the period. 96.89% of the stock is currently owned by institutional investors.

MacroGenics Company Profile

MacroGenics, Inc, a biopharmaceutical company, develops, manufactures, and commercializes antibody-based therapeutics to treat cancer in the United States. Its approved product is MARGENZA (margetuximab-cmkb), a human epidermal growth factor receptor 2 (HER2) receptor antagonist indicated, in combination with chemotherapy, for the treatment of adult patients with metastatic HER2-positive breast cancer who have received two or more prior anti-HER2 regimens.