MacroGenics, Inc. (NASDAQ:MGNX) was downgraded by research analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a research note issued to investors on Tuesday.
A number of other research analysts have also weighed in on MGNX. Zacks Investment Research raised shares of MacroGenics from a “sell” rating to a “hold” rating and set a $19.00 price objective on the stock in a research note on Tuesday, July 18th. BidaskClub lowered shares of MacroGenics from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Cowen and Company reissued a “buy” rating on shares of MacroGenics in a research report on Friday, August 4th. Morgan Stanley dropped their price target on shares of MacroGenics from $22.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Monday, August 7th. Finally, SunTrust Banks, Inc. reissued a “buy” rating and set a $26.00 price target on shares of MacroGenics in a research report on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $30.10.
MacroGenics (NASDAQ:MGNX) opened at $17.85 on Tuesday. MacroGenics has a 12 month low of $14.36 and a 12 month high of $31.85.
MacroGenics (NASDAQ:MGNX) last released its quarterly earnings data on Wednesday, November 8th. The biopharmaceutical company reported ($1.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.09) by ($0.19). MacroGenics had a negative net margin of 1,526.55% and a negative return on equity of 69.31%. The business had revenue of $1.70 million during the quarter, compared to the consensus estimate of $5.50 million. During the same period last year, the business posted ($0.97) earnings per share. The firm’s quarterly revenue was down 48.5% on a year-over-year basis. sell-side analysts forecast that MacroGenics will post -2.34 earnings per share for the current fiscal year.
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In related news, SVP Jon Marc Wigginton sold 10,000 shares of the firm’s 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 sale, the senior vice president now owns 40,000 shares in the company, valued at $800,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 8.30% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Jennison Associates LLC increased its holdings in MacroGenics by 0.6% during the second quarter. Jennison Associates LLC now owns 189,970 shares of the biopharmaceutical company’s stock worth $3,326,000 after buying an additional 1,062 shares during the last quarter. American International Group Inc. increased its holdings in MacroGenics by 7.1% during the first quarter. American International Group Inc. now owns 19,632 shares of the biopharmaceutical company’s stock worth $365,000 after buying an additional 1,300 shares during the last quarter. Schwab Charles Investment Management Inc. increased its holdings in MacroGenics by 21.0% during the second quarter. Schwab Charles Investment Management Inc. now owns 148,792 shares of the biopharmaceutical company’s stock worth $2,606,000 after buying an additional 25,823 shares during the last quarter. Vanguard Group Inc. increased its holdings in MacroGenics by 3.4% during the first quarter. Vanguard Group Inc. now owns 1,352,864 shares of the biopharmaceutical company’s stock worth $25,163,000 after buying an additional 44,680 shares during the last quarter. Finally, FMR LLC increased its stake in shares of MacroGenics by 6.0% in the second quarter. FMR LLC now owns 5,238,917 shares of the biopharmaceutical company’s stock worth $91,733,000 after purchasing an additional 295,553 shares in the last quarter. Institutional investors and hedge funds 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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