JMP Securities Reaffirms “Market Outperform” Rating for MacroGenics (NASDAQ:MGNX)

JMP Securities reaffirmed their market outperform rating on shares of MacroGenics (NASDAQ:MGNX – Get Rating) in a research report released on Thursday, Benzinga reports. They currently have a $8.00 target price on the biopharmaceutical company’s stock.

MGNX has been the subject of a number of other research reports. Cowen downgraded shares of MacroGenics from an outperform rating to a market perform rating in a report on Tuesday, November 22nd. StockNews.com assumed coverage on shares of MacroGenics in a report on Thursday. They issued a hold rating for the company. Stifel Nicolaus boosted their price target on shares of MacroGenics from $15.00 to $17.00 in a report on Thursday, March 9th. Guggenheim raised shares of MacroGenics from a neutral rating to a buy rating and set a $12.00 price target for the company in a report on Tuesday, November 22nd. Finally, Cowen downgraded shares of MacroGenics from an outperform rating to a market perform rating in a report on Tuesday, November 22nd. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $10.30.

MacroGenics Price Performance

MacroGenics stock opened at $6.65 on Thursday. The company has a market cap of $411.24 million, a PE ratio of -3.43 and a beta of 1.97. The company has a fifty day moving average price of $5.85 and a two-hundred day moving average price of $5.34. MacroGenics has a 12 month low of $2.13 and a 12 month high of $10.20.

Insider Activity at MacroGenics

In related news, VP Jeffrey Stuart Peters sold 5,372 shares of MacroGenics stock in a transaction dated Friday, March 10th. The shares were sold at an average price of $6.03, for a total transaction of $32,393.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, VP Jeffrey Stuart Peters sold 5,372 shares of MacroGenics stock in a transaction dated Friday, March 10th. The shares were sold at an average price of $6.03, for a total transaction of $32,393.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Target N. V. Biotech acquired 500,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 14th. The shares were bought at an average price of $5.07 per share, for a total transaction of $2,535,000.00. Following the completion of the purchase, the insider now owns 9,579,963 shares of the company’s stock, valued at $48,570,412.41. The disclosure for this purchase can be found here. Insiders have purchased a total of 1,050,000 shares of company stock worth $5,628,000 over the last ninety days. 7.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On MacroGenics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Point72 Middle East FZE bought a new stake in MacroGenics in the fourth quarter worth about $28,000. Nisa Investment Advisors LLC raised its position in MacroGenics by 692.3% in the third quarter. Nisa Investment Advisors LLC now owns 5,150 shares of the biopharmaceutical company’s stock worth $26,000 after acquiring an additional 4,500 shares in the last quarter. Denali Advisors LLC bought a new stake in MacroGenics in the third quarter worth about $25,000. Allspring Global Investments Holdings LLC raised its position in MacroGenics by 228.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 9,281 shares of the biopharmaceutical company’s stock worth $62,000 after acquiring an additional 6,451 shares in the last quarter. Finally, Commonwealth Equity Services LLC bought a new stake in MacroGenics in the fourth quarter worth about $77,000. 93.63% of the stock is currently owned by institutional investors.

About MacroGenics

(Get Rating)

MacroGenics, Inc is a clinical-stage biopharmaceutical company engaged in discovering and developing antibody-based therapeutics designed to modulate the human immune response for the treatment of cancer. Its product pipeline includes Margetuximab, Flotetuzumab, Retifanlimab, Enoblituzumab, Tebotelimab, MGC018, MGD019, IMGC936, and MGD014 for infectious diseases.