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

MacroGenics (NASDAQ:MGNX - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued on Thursday.

Other research analysts also recently issued research reports about the stock. 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. Stifel Nicolaus dropped their price objective on MacroGenics from $6.00 to $5.00 and set a "hold" rating for the company in a research note on Wednesday, May 14th. B. Riley cut their target price on MacroGenics from $5.00 to $3.00 and set a "neutral" rating for the company in a research report on Tuesday. Finally, HC Wainwright lowered their price target on MacroGenics from $4.00 to $2.00 and set a "neutral" rating on the stock in a report on Tuesday, March 25th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $6.13.

MacroGenics Trading Up 1.7%

MacroGenics stock traded up $0.03 during midday trading on Thursday, hitting $1.52. The stock had a trading volume of 52,825 shares, compared to its average volume of 812,612. The firm's fifty day moving average is $1.51 and its two-hundred day moving average is $2.57. The company has a market capitalization of $95.58 million, a PE ratio of -0.97 and a beta of 2.20. MacroGenics has a 52-week low of $0.99 and a 52-week high of $5.77.

MacroGenics (NASDAQ:MGNX - Get Free Report) last posted its quarterly 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 firm had revenue of $13.19 million during the quarter, compared to the consensus estimate of $9.59 million. MacroGenics had a negative return on equity of 89.42% and a negative net margin of 69.07%. As a group, equities research analysts predict that MacroGenics will post -1.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MacroGenics

Large investors have recently made changes to their positions in the company. Acadian Asset Management LLC boosted its stake in MacroGenics by 78.8% during the first quarter. Acadian Asset Management LLC now owns 2,308,649 shares of the biopharmaceutical company's stock valued at $2,923,000 after buying an additional 1,017,726 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in shares of MacroGenics by 456,243.3% during the 1st quarter. Jones Financial Companies Lllp now owns 136,903 shares of the biopharmaceutical company's stock worth $174,000 after acquiring an additional 136,873 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in shares of MacroGenics by 17.6% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 665,351 shares of the biopharmaceutical company's stock worth $845,000 after acquiring an additional 99,447 shares in the last quarter. Amundi bought a new position in shares of MacroGenics during the 1st quarter valued at approximately $272,000. Finally, Armistice Capital LLC grew its holdings in shares of MacroGenics by 0.3% in the first quarter. Armistice Capital LLC now owns 6,296,000 shares of the biopharmaceutical company's stock valued at $7,996,000 after purchasing an additional 20,000 shares in the last quarter. 96.89% of the stock is owned by institutional investors.

MacroGenics Company Profile

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.

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