MacroGenics (NASDAQ:MGNX - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report released on Friday.
MGNX has been the topic of a number of other reports. HC Wainwright dropped their price target on shares of MacroGenics from $4.00 to $2.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 25th. B. Riley lowered their target price on shares of MacroGenics from $5.00 to $3.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 20th. Stifel Nicolaus lowered their target price on shares of MacroGenics from $6.00 to $5.00 and set a "hold" rating on the stock in a research report on Wednesday, May 14th. Finally, Barclays restated an "overweight" rating and set a $3.00 target price (down from $8.00) on shares of MacroGenics in a research report on Wednesday, May 14th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $5.71.
Read Our Latest Report on MGNX
MacroGenics Stock Up 1.7%
MGNX traded up $0.02 on Friday, reaching $1.21. The company had a trading volume of 706,448 shares, compared to its average volume of 845,846. MacroGenics has a 1 year low of $0.99 and a 1 year high of $5.77. The stock has a market capitalization of $76.34 million, a PE ratio of -1.36 and a beta of 1.66. The stock has a 50-day moving average price of $1.52 and a 200-day moving average price of $2.14.
MacroGenics (NASDAQ:MGNX - Get Free Report) last announced its earnings results on Tuesday, May 13th. The biopharmaceutical company reported ($0.65) EPS for the quarter, missing analysts' consensus estimates of ($0.61) by ($0.04). MacroGenics had a negative net margin of 36.23% and a negative return on equity of 59.84%. The business had revenue of $13.19 million during the quarter, compared to analysts' expectations of $9.59 million. As a group, analysts expect that MacroGenics will post -1.06 earnings per share for the current fiscal year.
Institutional Trading of MacroGenics
Several institutional investors and hedge funds have recently modified their holdings of the business. Voya Investment Management LLC lifted its holdings in shares of MacroGenics by 70.5% in the first quarter. Voya Investment Management LLC now owns 97,922 shares of the biopharmaceutical company's stock valued at $124,000 after purchasing an additional 40,500 shares in the last quarter. Strs Ohio purchased a new stake in shares of MacroGenics in the first quarter valued at about $263,000. Acadian Asset Management LLC lifted its holdings in shares of MacroGenics by 78.8% in 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 purchasing an additional 1,017,726 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of MacroGenics by 456,243.3% in the first quarter. Jones Financial Companies Lllp now owns 136,903 shares of the biopharmaceutical company's stock valued at $174,000 after purchasing an additional 136,873 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its stake in shares of MacroGenics by 17.6% during the first quarter. Jacobs Levy Equity Management Inc. now owns 665,351 shares of the biopharmaceutical company's stock valued at $845,000 after buying an additional 99,447 shares during the period. Hedge funds and other institutional investors own 96.89% of the company's stock.
About MacroGenics
(
Get Free Report)
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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