MacroGenics (NASDAQ:MGNX) Rating Lowered to “Hold” at StockNews.com

MacroGenics (NASDAQ:MGNX) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Friday.

MacroGenics Stock Performance

Shares of NASDAQ:MGNX traded down $0.10 on Friday, reaching $2.00. The company’s stock had a trading volume of 1,168,086 shares, compared to its average volume of 1,156,806. MacroGenics has a 52-week low of $1.89 and a 52-week high of $19.54. The company has a market cap of $125.53 million, a P/E ratio of -1.27 and a beta of 2.12. The company has a 50-day simple moving average of $2.66 and a 200 day simple moving average of $3.22.

MacroGenics (NASDAQ:MGNX) last released its earnings results on Thursday, March 20th. The biopharmaceutical company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.02). The firm had revenue of $49.40 million during the quarter, compared to the consensus estimate of $34.17 million. MacroGenics had a negative return on equity of 89.42% and a negative net margin of 69.07%. On average, equities research analysts forecast that MacroGenics will post -1.06 EPS for the current fiscal year.

Institutional Investors Weigh In On MacroGenics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MGNX. Lazard Asset Management LLC bought a new stake in shares of MacroGenics in the 4th quarter valued at about $32,000. XTX Topco Ltd purchased a new position in shares of MacroGenics in the 3rd quarter worth approximately $37,000. American Century Companies Inc. purchased a new position in shares of MacroGenics in the 4th quarter worth approximately $38,000. Sanders Morris Harris LLC purchased a new position in shares of MacroGenics in the 4th quarter worth approximately $40,000. Finally, Jump Financial LLC purchased a new position in shares of MacroGenics in the 4th quarter worth approximately $44,000. Institutional investors own 96.89% of the company’s stock.

About MacroGenics

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.