MacroGenics, Inc. (NASDAQ:MGNX) Receives Average Rating of “Hold” from Brokerages

Shares of MacroGenics, Inc. (NASDAQ:MGNX) have earned a consensus recommendation of “Hold” from the eleven brokerages that are presently covering the stock, MarketBeat reports. Eight equities research 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 target among brokerages that have issued a report on the stock in the last year is $7.63.

Several brokerages recently commented on MGNX. JMP Securities lowered MacroGenics from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 7th. StockNews.com upgraded shares of MacroGenics from a “sell” rating to a “buy” rating in a research note on Sunday, November 10th. Finally, HC Wainwright reaffirmed a “neutral” rating and issued a $4.00 target price on shares of MacroGenics in a report on Wednesday, November 6th.

Institutional Trading of MacroGenics

Hedge funds have recently made changes to their positions in the company. XTX Topco Ltd purchased a new stake in MacroGenics in the third quarter valued at approximately $37,000. China Universal Asset Management Co. Ltd. lifted its holdings in shares of MacroGenics by 64.0% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 12,064 shares of the biopharmaceutical company’s stock worth $40,000 after acquiring an additional 4,707 shares during the last quarter. Sanders Morris Harris LLC purchased a new position in MacroGenics in the fourth quarter worth $40,000. SG Americas Securities LLC purchased a new stake in MacroGenics during the third quarter valued at about $55,000. Finally, XML Financial LLC lifted its stake in MacroGenics by 66.0% during the third quarter. XML Financial LLC now owns 17,600 shares of the biopharmaceutical company’s stock worth $58,000 after purchasing an additional 7,000 shares during the last quarter. 96.89% of the stock is currently owned by institutional investors.

MacroGenics Price Performance

MGNX opened at $3.00 on Monday. The company has a market capitalization of $188.28 million, a PE ratio of -1.90 and a beta of 2.04. MacroGenics has a fifty-two week low of $2.91 and a fifty-two week high of $21.88. The business has a 50-day moving average of $3.28 and a 200-day moving average of $3.59.

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.