ValuEngine cut shares of MacroGenics, Inc. (NASDAQ:MGNX) from a sell rating to a strong sell rating in a research report sent to investors on Tuesday morning.
A number of other analysts also recently commented on MGNX. BidaskClub downgraded shares of MacroGenics from a sell rating to a strong sell rating in a report on Saturday, August 12th. Citigroup Inc. boosted their price objective on shares of MacroGenics from $18.00 to $22.00 and gave the stock a neutral rating in a report on Friday, November 10th. Morgan Stanley decreased their price objective on shares of MacroGenics from $22.00 to $21.00 and set an equal weight rating on the stock in a report on Monday, August 7th. Cowen and Company reissued a buy rating on shares of MacroGenics in a report on Friday, August 4th. Finally, Zacks Investment Research raised shares of MacroGenics from a sell rating to a hold rating in a report on Tuesday, October 10th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the stock. MacroGenics has a consensus rating of Buy and an average price target of $30.10.
Shares of MacroGenics (MGNX) opened at $19.20 on Tuesday. MacroGenics has a fifty-two week low of $14.36 and a fifty-two week high of $29.45.
MacroGenics (NASDAQ:MGNX) last released its quarterly earnings data on Wednesday, November 8th. The biopharmaceutical company reported ($1.28) EPS for the quarter, missing analysts’ consensus estimates of ($1.09) by ($0.19). The company had revenue of $1.70 million for the quarter, compared to analysts’ expectations of $5.50 million. MacroGenics had a negative return on equity of 69.31% and a negative net margin of 1,526.55%. The firm’s quarterly revenue was down 48.5% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.97) EPS. analysts expect that MacroGenics will post -0.7 earnings per share for the current fiscal year.
In other MacroGenics news, SVP Jon Marc Wigginton sold 10,000 shares of MacroGenics stock in a transaction dated Wednesday, October 25th. The shares were sold at an average price of $20.00, for a total transaction of $200,000.00. Following the completion of the transaction, the senior vice president now owns 40,000 shares in the company, valued at $800,000. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 8.30% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Legal & General Group Plc raised its position in MacroGenics by 4.3% during the second quarter. Legal & General Group Plc now owns 7,925 shares of the biopharmaceutical company’s stock worth $138,000 after acquiring an additional 328 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of MacroGenics by 1.0% in the first quarter. Ameriprise Financial Inc. now owns 49,059 shares of the biopharmaceutical company’s stock valued at $912,000 after buying an additional 485 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of MacroGenics by 2.9% in the second quarter. The Manufacturers Life Insurance Company now owns 26,485 shares of the biopharmaceutical company’s stock valued at $463,000 after buying an additional 743 shares during the last quarter. Cornerstone Capital Management Holdings LLC. raised its position in shares of MacroGenics by 3.8% in the second quarter. Cornerstone Capital Management Holdings LLC. now owns 23,238 shares of the biopharmaceutical company’s stock valued at $406,000 after buying an additional 848 shares during the last quarter. Finally, Jennison Associates LLC raised its position in shares of MacroGenics by 0.6% in the second quarter. Jennison Associates LLC now owns 189,970 shares of the biopharmaceutical company’s stock valued at $3,326,000 after buying an additional 1,062 shares during the last quarter. Institutional investors own 84.72% of the company’s stock.
MacroGenics, Inc is a clinical-stage biopharmaceutical company focused on discovering and developing monoclonal antibody-based therapeutics for the treatment of cancer, as well as various autoimmune disorders and infectious diseases. The Company develops therapeutic product candidates using its antibody-based technology platforms and also in collaboration with other biopharmaceutical companies.
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