MacroGenics (NASDAQ:MGNX) Stock Rating Lowered by StockNews.com

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

MGNX has been the subject of several other research reports. Guggenheim downgraded MacroGenics from a “buy” rating to a “neutral” rating in a report on Wednesday, July 31st. HC Wainwright reissued a “neutral” rating and set a $4.00 target price on shares of MacroGenics in a report on Wednesday, September 18th. JMP Securities dropped their target price on MacroGenics from $16.00 to $8.00 and set a “market outperform” rating for the company in a report on Wednesday, July 31st. B. Riley downgraded MacroGenics from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $18.00 to $5.00 in a report on Wednesday, July 31st. Finally, BTIG Research downgraded MacroGenics from a “buy” rating to a “neutral” rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, MacroGenics currently has a consensus rating of “Hold” and an average price target of $8.11.

MacroGenics Trading Up 5.7 %

Shares of MacroGenics stock opened at $3.87 on Friday. The firm has a fifty day simple moving average of $3.55 and a 200-day simple moving average of $5.45. MacroGenics has a 1-year low of $2.95 and a 1-year high of $21.88. The stock has a market capitalization of $242.73 million, a price-to-earnings ratio of -1.76 and a beta of 2.08.

MacroGenics (NASDAQ:MGNX) last released its earnings results on Tuesday, August 6th. The biopharmaceutical company reported ($0.89) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.42). MacroGenics had a negative net margin of 332.47% and a negative return on equity of 146.01%. The business had revenue of $10.80 million for the quarter, compared to analyst estimates of $24.14 million. As a group, research analysts predict that MacroGenics will post -1.72 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. EntryPoint Capital LLC bought a new stake in shares of MacroGenics in the 1st quarter worth $40,000. China Universal Asset Management Co. Ltd. lifted its position in MacroGenics by 64.0% during the third quarter. China Universal Asset Management Co. Ltd. now owns 12,064 shares of the biopharmaceutical company’s stock valued at $40,000 after purchasing an additional 4,707 shares in the last quarter. CANADA LIFE ASSURANCE Co purchased a new position in shares of MacroGenics in the first quarter valued at about $52,000. SG Americas Securities LLC bought a new stake in MacroGenics in the third quarter worth $55,000. Finally, DRW Securities LLC bought a new stake in MacroGenics in the second quarter worth $56,000. 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.