MacroGenics, Inc. (MGNX) – What Are Brokerages Thinking About This Stock?

MacroGenics, Inc. (NASDAQ:MGNX) has received an average rating of “Hold” from the five ratings firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $8.50.

Several research analysts have commented on the company. B. Riley Financial lifted their price target on MacroGenics from $9.00 to $11.00 and gave the stock a “buy” rating in a research report on Monday, August 17th. Citigroup assumed coverage on MacroGenics in a report on Friday, October 23rd. They set a “positive” rating for the company. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of MacroGenics in a research report on Tuesday, November 3rd.

Insider Transactions at MacroGenics

In related 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 transaction of $129,085.75. The sale was disclosed in a document filed with the SEC, which is available at 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.

Institutional Trading of MacroGenics

Several hedge funds and other institutional investors have recently bought and sold shares of MGNX. Legal & General Group Plc acquired a new stake in MacroGenics in the 2nd quarter worth $28,000. State of Wyoming increased its holdings in shares of MacroGenics by 201.0% during the 3rd quarter. State of Wyoming now owns 7,518 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 5,020 shares during the period. Seven Fleet Capital Management LP acquired a new position in shares of MacroGenics during the first quarter valued at about $39,000. Sanders Morris Harris LLC acquired a new position in shares of MacroGenics during the third quarter valued at about $48,000. Finally, Two Sigma Securities LLC acquired a new position in shares of MacroGenics during the second quarter valued at about $63,000. 96.89% of the stock is currently owned by institutional investors and hedge funds.

MacroGenics Stock Performance

MacroGenics stock opened at $2.42 on Wednesday. MacroGenics has a 52 week low of $1.32 and a 52 week high of $5.08. The firm has a market capitalization of $154.15 million, a PE ratio of -11.00 and a beta of 1.33. The business’s 50-day simple moving average is $3.44 and its 200-day simple moving average is $3.42.

MacroGenics (NASDAQ:MGNX) last announced its earnings results on Thursday, August 13th. The biopharmaceutical company reported $0.31 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $32.83 million during the quarter, compared to the consensus estimate of $59.14 million. Research analysts forecast that MacroGenics will post -1.14 earnings per share for the current year.

MacroGenics Company Profile

MacroGenics, Inc. is a biopharmaceutical company focused on developing antibody-based therapies for cancer and immune-mediated diseases. Headquartered in Rockville, Maryland, the company uses its proprietary DART platform and other antibody technologies to create treatments designed to modulate immune responses and target disease-associated cells. MacroGenics’ portfolio includes MARGENZA (margetuximab-cmkb), an antibody therapy approved in the United States for certain patients with HER2-positive metastatic breast cancer.