Weiss Ratings Reaffirms Sell (E+) Rating for MacroGenics (NASDAQ:MGNX)

Key Points

• Weiss Ratings has reaffirmed a "sell (E+)" rating for MacroGenics (NASDAQ:MGNX), reflecting ongoing concerns about the company's performance.
• MacroGenics' stock has fluctuated with a 52-week low of $0.99 and a high of $5.10, currently trading at $1.78, and showing a modest 3.5% gain.
• Recent insider trading saw Director William K. Heiden purchase 49,500 shares at an average price of $1.49 per share, indicating increased confidence in the company's potential.

MacroGenics (NASDAQ:MGNX - Get Free Report)'s stock had its "sell (e+)" rating reaffirmed by equities research analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

Several other research firms also recently commented on MGNX. Leerink Partners reduced their price objective on MacroGenics from $8.00 to $5.00 and set an "outperform" rating for the company in a research note on Friday, August 15th. Barclays initiated coverage on MacroGenics in a research note on Wednesday, September 17th. They set an "overweight" rating and a $3.00 price objective for the company. Finally, Wall Street Zen downgraded MacroGenics from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, MacroGenics currently has an average rating of "Hold" and an average price target of $3.60.

MacroGenics Stock Up 3.5%

Shares of NASDAQ MGNX opened at $1.78 on Wednesday. The stock has a market cap of $112.51 million, a PE ratio of -3.12 and a beta of 1.61. MacroGenics has a 52-week low of $0.99 and a 52-week high of $5.10. The business has a 50-day moving average price of $1.67 and a 200 day moving average price of $1.54.

MacroGenics (NASDAQ:MGNX - Get Free Report) last announced its earnings results on Thursday, August 14th. The biopharmaceutical company reported ($0.57) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.59) by $0.02. The firm had revenue of $22.24 million during the quarter, compared to analysts' expectations of $28.06 million. MacroGenics had a negative return on equity of 40.24% and a negative net margin of 21.99%. Sell-side analysts anticipate that MacroGenics will post -1.06 earnings per share for the current year.

Insiders Place Their Bets

In other MacroGenics news, Director William K. Heiden bought 49,500 shares of the firm's stock in a transaction that occurred on Wednesday, August 20th. The stock was purchased at an average price of $1.49 per share, for a total transaction of $73,755.00. Following the purchase, the director directly owned 111,000 shares in the company, valued at $165,390. This trade represents a 80.49% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 13.00% of the stock is currently owned by insiders.

Institutional Trading of MacroGenics

Several hedge funds have recently added to or reduced their stakes in the business. State of Wyoming boosted its stake in MacroGenics by 41.8% during the 2nd quarter. State of Wyoming now owns 31,557 shares of the biopharmaceutical company's stock valued at $38,000 after purchasing an additional 9,295 shares during the period. Rangeley Capital LLC bought a new stake in MacroGenics during the 2nd quarter valued at approximately $33,000. EcoR1 Capital LLC bought a new stake in MacroGenics during the 2nd quarter valued at approximately $1,939,000. Engineers Gate Manager LP bought a new stake in MacroGenics during the 2nd quarter valued at approximately $28,000. Finally, Bridgeway Capital Management LLC boosted its stake in MacroGenics by 16.1% during the 2nd quarter. Bridgeway Capital Management LLC now owns 133,700 shares of the biopharmaceutical company's stock valued at $162,000 after purchasing an additional 18,500 shares during the period. Institutional investors 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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