MacroGenics, Inc. (NASDAQ:MGNX) Given Average Rating of "Hold" by Analysts

Key Points

• Analysts have given MacroGenics an average rating of Hold across eight analysts (1 sell, 5 hold, 1 buy, 1 strong buy), with an average 12‑month price target of $3.60.
• Institutional investors own about 96.89% of the stock, with recent activity including EcoR1 Capital's new ~$1.94M stake and Acadian Asset Management increasing its position to 2.49M shares (~$3.01M).
• MGNX opened at $2.14 (50‑day SMA $1.77, 200‑day SMA $1.67), trades in a 12‑month range of $0.99–$2.48, has a market cap of ~$135.4M and a negative P/E of -1.78.

Shares of MacroGenics, Inc. (NASDAQ:MGNX - Get Free Report) have been given an average rating of "Hold" by the eight analysts that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation, one has assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $3.60.

Several research analysts have recently commented on the stock. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of MacroGenics in a report on Monday, December 22nd. Zacks Research downgraded MacroGenics from a "strong-buy" rating to a "hold" rating in a research note on Thursday, January 1st. Finally, Citigroup reaffirmed a "market perform" rating on shares of MacroGenics in a report on Tuesday, February 24th.

Institutional Investors Weigh In On MacroGenics

Hedge funds have recently added to or reduced their stakes in the stock. EcoR1 Capital LLC acquired a new stake in shares of MacroGenics in the 2nd quarter worth about $1,939,000. Acadian Asset Management LLC grew its position in MacroGenics by 7.9% in the 2nd quarter. Acadian Asset Management LLC now owns 2,491,703 shares of the biopharmaceutical company's stock worth $3,008,000 after purchasing an additional 183,054 shares during the last quarter. Catalyst Funds Management Pty Ltd acquired a new stake in shares of MacroGenics in the second quarter valued at approximately $34,000. State of Wyoming raised its holdings in shares of MacroGenics by 41.8% during the second quarter. State of Wyoming now owns 31,557 shares of the biopharmaceutical company's stock valued at $38,000 after buying an additional 9,295 shares during the last quarter. Finally, Rangeley Capital LLC acquired a new position in shares of MacroGenics during the second quarter worth approximately $33,000. 96.89% of the stock is currently owned by institutional investors.

MacroGenics Trading Up 2.9%

MGNX stock opened at $2.14 on Friday. The stock's 50 day simple moving average is $1.77 and its 200 day simple moving average is $1.67. MacroGenics has a 12-month low of $0.99 and a 12-month high of $2.48. The firm has a market cap of $135.38 million, a P/E ratio of -1.78 and a beta of 1.45.

MacroGenics Company Profile

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.

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