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

MacroGenics, Inc. (NASDAQ:MGNX) has received a consensus recommendation of “Hold” from the six brokerages that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $6.3333.

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

Insider Buying and Selling

In other MacroGenics news, VP Jeffrey Peters sold 31,105 shares of the business’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $4.15, for a total value of $129,085.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 13.60% of the stock is currently owned by insiders.

Institutional Trading of MacroGenics

Several hedge funds have recently modified their holdings of the company. BlackRock Inc. bought a new position in MacroGenics during the second quarter valued at $21,618,000. Bank of America Corp DE purchased a new stake in shares of MacroGenics in the second quarter worth approximately $11,496,000. Jefferies Financial Group Inc. purchased a new position in MacroGenics during the 4th quarter valued at $2,964,000. Renaissance Technologies LLC boosted its holdings in MacroGenics by 71.0% during the 4th quarter. Renaissance Technologies LLC now owns 2,908,631 shares of the biopharmaceutical company’s stock valued at $4,683,000 after acquiring an additional 1,207,408 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in MacroGenics in the 2nd quarter valued at $4,622,000. 96.89% of the stock is owned by hedge funds and other institutional investors.

MacroGenics Price Performance

Shares of NASDAQ:MGNX opened at $4.25 on Friday. MacroGenics has a 1 year low of $1.29 and a 1 year high of $5.08. The company has a market cap of $270.73 million, a P/E ratio of -19.32 and a beta of 1.22. The stock’s fifty day moving average price is $4.21 and its 200-day moving average price is $3.63.

MacroGenics (NASDAQ:MGNX) last issued its earnings results 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 during the quarter, compared to analyst estimates of $59.14 million. On average, sell-side analysts anticipate that MacroGenics will post -1.48 earnings per share for the current year.

About MacroGenics

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.