MacroGenics (NASDAQ:MGNX) Stock Rating Lowered by Wall Street Zen

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

Several other brokerages have also recently issued reports on MGNX. Barclays restated an "overweight" rating and issued a $3.00 target price (down from $8.00) on shares of MacroGenics in a report on Wednesday, May 14th. HC Wainwright dropped their price target on shares of MacroGenics from $4.00 to $2.00 and set a "neutral" rating for the company in a research note on Tuesday, March 25th. Stifel Nicolaus reduced their target price on MacroGenics from $6.00 to $5.00 and set a "hold" rating on the stock in a research report on Wednesday, May 14th. Finally, B. Riley decreased their price target on MacroGenics from $5.00 to $3.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 20th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $5.71.

MacroGenics Stock Performance

Shares of NASDAQ:MGNX traded down $0.08 during midday trading on Friday, hitting $1.19. The company's stock had a trading volume of 9,527,048 shares, compared to its average volume of 854,847. The company has a market cap of $75.08 million, a P/E ratio of -1.34 and a beta of 1.65. MacroGenics has a 12-month low of $0.99 and a 12-month high of $5.77. The business's 50 day simple moving average is $1.52 and its 200 day simple moving average is $2.16.

MacroGenics (NASDAQ:MGNX - Get Free Report) last released 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 analysts' expectations of $9.59 million. MacroGenics had a negative return on equity of 59.84% and a negative net margin of 36.23%. On average, sell-side analysts predict that MacroGenics will post -1.06 earnings per share for the current fiscal year.

Institutional Trading of MacroGenics

Hedge funds have recently made changes to their positions in the business. Acadian Asset Management LLC lifted its holdings in MacroGenics by 78.8% during the 1st quarter. Acadian Asset Management LLC now owns 2,308,649 shares of the biopharmaceutical company's stock worth $2,923,000 after buying an additional 1,017,726 shares in the last quarter. Wasatch Advisors LP increased its position in shares of MacroGenics by 37.6% during the fourth quarter. Wasatch Advisors LP now owns 3,488,493 shares of the biopharmaceutical company's stock worth $11,338,000 after acquiring an additional 952,691 shares during the period. Schonfeld Strategic Advisors LLC purchased a new stake in shares of MacroGenics during the fourth quarter worth $2,787,000. JPMorgan Chase & Co. raised its stake in shares of MacroGenics by 68.3% in the fourth quarter. JPMorgan Chase & Co. now owns 546,807 shares of the biopharmaceutical company's stock valued at $1,777,000 after acquiring an additional 221,905 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in MacroGenics by 69.1% in the fourth quarter. Renaissance Technologies LLC now owns 538,523 shares of the biopharmaceutical company's stock valued at $1,750,000 after purchasing an additional 220,100 shares during the period. Institutional investors and hedge funds own 96.89% of the company's stock.

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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