MacroGenics, Inc. (NASDAQ:MGNX) Given Average Rating of “Hold” by Analysts

MacroGenics, Inc. (NASDAQ:MGNX) has received an average recommendation of “Hold” from the eleven ratings firms that are covering the stock, MarketBeat.com reports. Eight analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $7.63.

Several analysts have commented on the company. Guggenheim cut MacroGenics from a “buy” rating to a “neutral” rating in a report on Wednesday, July 31st. JMP Securities lowered shares of MacroGenics from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 7th. Citigroup decreased their price target on shares of MacroGenics from $16.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Barclays lowered their price objective on shares of MacroGenics from $14.00 to $9.00 and set an “overweight” rating for the company in a research note on Monday, July 29th. Finally, BTIG Research lowered MacroGenics from a “buy” rating to a “neutral” rating in a research report on Thursday, August 1st.

Institutional Trading of MacroGenics

Large investors have recently modified their holdings of the business. Avoro Capital Advisors LLC acquired a new stake in MacroGenics during the 1st quarter valued at approximately $90,528,000. Armistice Capital LLC grew its position in shares of MacroGenics by 150.0% during the second quarter. Armistice Capital LLC now owns 6,000,000 shares of the biopharmaceutical company’s stock worth $25,500,000 after buying an additional 3,600,000 shares in the last quarter. Millennium Management LLC increased its stake in shares of MacroGenics by 3,473.7% in the second quarter. Millennium Management LLC now owns 3,312,672 shares of the biopharmaceutical company’s stock worth $14,079,000 after buying an additional 3,219,977 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in MacroGenics by 8,361.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,438,050 shares of the biopharmaceutical company’s stock valued at $35,889,000 after acquiring an additional 2,409,237 shares in the last quarter. Finally, Marshall Wace LLP boosted its stake in MacroGenics by 1,689.3% during the 2nd quarter. Marshall Wace LLP now owns 658,007 shares of the biopharmaceutical company’s stock valued at $2,797,000 after acquiring an additional 621,232 shares during the last quarter. 96.89% of the stock is currently owned by institutional investors and hedge funds.

MacroGenics Stock Up 0.9 %

Shares of MacroGenics stock opened at $3.24 on Wednesday. MacroGenics has a fifty-two week low of $2.95 and a fifty-two week high of $21.88. The business’s fifty day moving average is $3.64 and its two-hundred day moving average is $4.07. The firm has a market cap of $203.34 million, a PE ratio of -2.05 and a beta of 2.08.

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.