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

Shares of MacroGenics, Inc. (NASDAQ:MGNX) have received an average rating of “Hold” from the six analysts that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $6.33.

A number of research firms recently issued reports on MGNX. Weiss Ratings reiterated a “sell (d-)” rating on shares of MacroGenics in a research report on Wednesday, August 5th. B. Riley Financial increased their target price 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.

MacroGenics Stock Performance

Shares of MGNX opened at $3.25 on Friday. The firm has a market cap of $207.03 million, a PE ratio of -14.77 and a beta of 1.20. MacroGenics has a 52-week low of $1.29 and a 52-week high of $5.08. The business’s 50 day moving average price is $3.95 and its two-hundred day moving average price is $3.92.

MacroGenics (NASDAQ:MGNX) last announced its quarterly earnings data on Thursday, August 13th. The biopharmaceutical company reported $0.31 EPS for the quarter, topping the consensus estimate of ($0.08) by $0.39. The company had revenue of $32.83 million during the quarter, compared to the consensus estimate of $59.14 million. MacroGenics had a negative net margin of 8.70% and a negative return on equity of 109.26%. Research analysts predict that MacroGenics will post -1.14 EPS for the current fiscal year.

Insiders Place Their Bets

In other MacroGenics news, VP Jeffrey Peters sold 31,105 shares of MacroGenics 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 13.60% of the company’s stock.

Hedge Funds Weigh In On MacroGenics

A number of institutional investors and hedge funds have recently made changes to their positions in MGNX. Legal & General Group Plc acquired a new stake in shares of MacroGenics in the 2nd quarter valued at about $28,000. Seven Fleet Capital Management LP bought a new stake in MacroGenics in the 1st quarter valued at about $39,000. Sanders Morris Harris LLC bought a new stake in MacroGenics in the 3rd quarter valued at about $48,000. Two Sigma Securities LLC acquired a new position in MacroGenics during the 2nd quarter worth approximately $63,000. Finally, Spark Investment Management LLC acquired a new position in MacroGenics during the 2nd quarter worth approximately $79,000. Institutional investors own 96.89% of the company’s stock.

About MacroGenics

MacroGenics, Inc is a biopharmaceutical company focused on developing antibody-based therapies for cancer and other serious diseases. Based in Rockville, Maryland, the company uses its proprietary DART platform to design molecules intended to direct the immune system against diseased cells, along with technologies for modifying antibody activity and half-life.

MacroGenics’ commercial products include MARGENZA (margetuximab-cmkb), an antibody approved in the United States for certain patients with HER2-positive metastatic breast cancer, and ZYNYZ (retifanlimab-dlwr), an immune checkpoint inhibitor approved for adults with metastatic or recurrent Merkel cell carcinoma.