MacroGenics (NASDAQ:MGNX) Downgraded to Sell Rating by Wall Street Zen

Wall Street Zen downgraded shares of MacroGenics (NASDAQ:MGNX - Free Report) from a hold rating to a sell rating in a research report report published on Thursday morning.

Other equities research analysts also recently issued research reports about the company. Barclays reaffirmed an "overweight" rating and issued a $3.00 target price (down previously from $8.00) on shares of MacroGenics in a report on Wednesday, May 14th. B. Riley cut their price objective on MacroGenics from $5.00 to $3.00 and set a "neutral" rating on the stock in a report on Tuesday, May 20th. Stifel Nicolaus cut their price objective on MacroGenics from $6.00 to $5.00 and set a "hold" rating on the stock in a report on Wednesday, May 14th. Finally, HC Wainwright cut their price objective on MacroGenics from $4.00 to $2.00 and set a "neutral" rating on the stock in a report on Tuesday, March 25th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $5.71.

MacroGenics Stock Down 1.0%

Shares of MGNX stock traded down $0.02 during trading hours on Thursday, reaching $1.50. The company's stock had a trading volume of 113,026 shares, compared to its average volume of 796,501. The firm's 50 day simple moving average is $1.48 and its 200-day simple moving average is $2.49. The company has a market capitalization of $94.32 million, a price-to-earnings ratio of -0.95 and a beta of 2.20. MacroGenics has a fifty-two week low of $0.99 and a fifty-two week high of $5.77.

MacroGenics (NASDAQ:MGNX - Get Free Report) last issued its earnings results on Tuesday, May 13th. The biopharmaceutical company reported ($0.65) earnings per share for the quarter, missing analysts' consensus estimates of ($0.61) by ($0.04). The business had revenue of $13.19 million during the quarter, compared to analyst estimates of $9.59 million. MacroGenics had a negative net margin of 69.07% and a negative return on equity of 89.42%. Sell-side analysts predict that MacroGenics will post -1.06 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of MGNX. State of Wyoming acquired a new position in MacroGenics during the 1st quarter worth about $28,000. Lazard Asset Management LLC acquired a new position in MacroGenics during the 4th quarter worth about $32,000. American Century Companies Inc. acquired a new position in MacroGenics during the 4th quarter worth about $38,000. Jump Financial LLC acquired a new position in MacroGenics during the 4th quarter worth about $44,000. Finally, Deutsche Bank AG lifted its holdings in MacroGenics by 3,803.2% during the 1st quarter. Deutsche Bank AG now owns 51,093 shares of the biopharmaceutical company's stock worth $65,000 after buying an additional 49,784 shares during the period. 96.89% of the stock is owned by institutional investors and hedge funds.

About MacroGenics

MacroGenics, Inc, a biopharmaceutical company, develops, manufactures, and commercializes antibody-based therapeutics to treat cancer in the United States. Its approved product is MARGENZA (margetuximab-cmkb), a human epidermal growth factor receptor 2 (HER2) receptor antagonist indicated, in combination with chemotherapy, for the treatment of adult patients with metastatic HER2-positive breast cancer who have received two or more prior anti-HER2 regimens.