MacroGenics, Inc. (NASDAQ:MGNX) Receives Consensus Recommendation of "Hold" from Analysts

Key Points

• Analysts have a consensus “Hold” rating on MacroGenics, with one sell, three hold, and two buy ratings. The average 12-month price target is $6.33, compared with a share price of $4.12.
• 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. Analysts expect a full-year loss of $1.14 per share.
• Institutional investors own approximately 96.89% of the stock, while a company vice president recently sold 31,105 shares for about $129,000 under a pre-arranged trading plan.

MacroGenics, Inc. (NASDAQ:MGNX - Get Free Report) has been assigned an average rating of "Hold" from the six analysts that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $6.3333.

A number of research firms have weighed in on MGNX. B. Riley Financial upped their price target on MacroGenics from $9.00 to $11.00 and gave the stock a "buy" rating in a report on Monday, August 17th. Weiss Ratings reissued a "sell (d-)" rating on shares of MacroGenics in a research report on Wednesday, August 5th.

MacroGenics Price Performance

NASDAQ:MGNX opened at $4.12 on Tuesday. The business's 50-day moving average is $4.09 and its two-hundred day moving average is $3.82. The firm has a market capitalization of $262.44 million, a PE ratio of -18.73 and a beta of 1.22. MacroGenics has a 12 month low of $1.29 and a 12 month high of $5.08.

MacroGenics (NASDAQ:MGNX - Get Free Report) last issued its earnings results on Thursday, August 13th. The biopharmaceutical company reported $0.31 earnings per share 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 return on equity of 109.26% and a negative net margin of 8.70%. Equities analysts anticipate that MacroGenics will post -1.14 EPS for the current year.

Insider Transactions at MacroGenics

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 document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 13.60% of the stock is owned by company insiders.

Institutional Trading of MacroGenics

Hedge funds and other institutional investors have recently modified their holdings of the business. Spark Investment Management LLC acquired a new position in shares of MacroGenics in the second quarter worth about $79,000. Velan Capital Investment Management LP grew its stake in MacroGenics by 100.0% during the 2nd quarter. Velan Capital Investment Management LP now owns 60,000 shares of the biopharmaceutical company's stock valued at $277,000 after purchasing an additional 30,000 shares in the last quarter. Headlands Technologies LLC increased its holdings in MacroGenics by 108.7% during the 2nd quarter. Headlands Technologies LLC now owns 99,188 shares of the biopharmaceutical company's stock worth $458,000 after purchasing an additional 51,657 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in MacroGenics during the 2nd quarter worth approximately $138,000. Finally, Two Sigma Securities LLC acquired a new position in shares of MacroGenics in the 2nd quarter valued at approximately $63,000. 96.89% of the stock is owned by hedge funds and other institutional investors.

About MacroGenics

MacroGenics, Inc is a biopharmaceutical company focused on developing antibody-based therapeutics for cancer and other serious diseases. Headquartered in Rockville, Maryland, the company uses its proprietary DART® and TRIDENT® platforms to design multispecific molecules intended to direct immune-system activity toward diseased cells or modify immune responses.

MacroGenics' development programs have included treatments for hematologic malignancies, solid tumors and autoimmune diseases. Its products include MARGENZA® (margetuximab-cmkb), an antibody for certain patients with HER2-positive metastatic breast cancer, and ZYNYZ® (retifanlimab-dlwr), an immune checkpoint inhibitor approved in the United States for adults with metastatic or recurrent locally advanced Merkel cell carcinoma.

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