MacroGenics (NASDAQ:MGNX) Stock Rating Cut to "Sell" at Wall Street Zen

Key Points

• Wall Street Zen downgraded MacroGenics from “hold” to “sell.” Other analyst opinions are mixed, leaving the stock with an overall “hold” rating and an average price target of $8.50.
• MacroGenics reported quarterly EPS of $0.31, beating the consensus estimate of a $0.08 loss, but revenue of $32.83 million fell short of the $59.14 million estimate.
• Shares opened at $2.20, below their 50-day and 200-day moving averages of $3.33 and $3.43, respectively.

MacroGenics (NASDAQ:MGNX - Get Free Report) was downgraded by analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report issued on Saturday, Wall Street Zen reports.

Several other brokerages also recently weighed in on MGNX. Citigroup initiated coverage on MacroGenics in a research note on Friday, October 23rd. They set a "positive" rating on the stock. B. Riley Financial increased their price target on MacroGenics from $9.00 to $11.00 and gave the stock a "buy" rating in a research note on Monday, August 17th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of MacroGenics in a report on Tuesday, November 3rd. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $8.50.

MacroGenics Price Performance

Shares of NASDAQ MGNX opened at $2.20 on Friday. MacroGenics has a 1-year low of $1.32 and a 1-year high of $5.08. The business's fifty day moving average price is $3.33 and its two-hundred day moving average price is $3.43. The firm has a market capitalization of $140.14 million, a PE ratio of -2.72 and a beta of 1.33.

MacroGenics (NASDAQ:MGNX - Get Free Report) last announced its quarterly earnings results on Thursday, August 13th. The biopharmaceutical company reported $0.31 earnings per share (EPS) for the quarter, beating 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 45.37% and a negative return on equity of 223.84%. Equities research analysts expect that MacroGenics will post -1.14 earnings per share for the current fiscal year.

Insider Buying and Selling at MacroGenics

In related news, VP Jeffrey Peters sold 31,105 shares of MacroGenics stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $4.15, for a total transaction of $129,085.75. The transaction was disclosed in a document filed with the SEC, which is available 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 company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in MGNX. Lantern Wealth Advisors LLC raised its stake in shares of MacroGenics by 17.6% during the third quarter. Lantern Wealth Advisors LLC now owns 26,700 shares of the biopharmaceutical company's stock worth $103,000 after buying an additional 4,000 shares during the last quarter. State of Wyoming lifted its holdings in MacroGenics by 201.0% in the third quarter. State of Wyoming now owns 7,518 shares of the biopharmaceutical company's stock valued at $29,000 after buying an additional 5,020 shares during the period. Legal & General Group Plc bought a new position in MacroGenics in the second quarter valued at approximately $28,000. Sanders Morris Harris LLC bought a new position in MacroGenics in the third quarter valued at approximately $48,000. Finally, Seven Fleet Capital Management LP acquired a new stake in MacroGenics during the 1st quarter worth $39,000. Institutional investors and hedge funds own 96.89% of the company's stock.

About MacroGenics

MacroGenics, Inc. is a biotechnology company focused on discovering and developing antibody-based medicines, primarily for cancer. Founded in 2000 and headquartered in Rockville, Maryland, the company works on its own drug candidates and collaborates with other pharmaceutical and biotechnology companies. Its research uses antibody-engineering technologies, including platforms designed to engage immune cells against tumors and to deliver therapeutic payloads to cancer cells. MacroGenics' portfolio has included margetuximab, marketed as Margenza, an antibody treatment approved in the United States for certain patients with HER2-positive metastatic breast cancer.

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