StockNews.com Downgrades MacroGenics (NASDAQ:MGNX) to Hold

MacroGenics (NASDAQ:MGNX) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.

MacroGenics Price Performance

Shares of MGNX opened at $2.00 on Friday. The company has a 50-day simple moving average of $2.66 and a two-hundred day simple moving average of $3.22. The firm has a market capitalization of $125.53 million, a PE ratio of -1.27 and a beta of 2.12. MacroGenics has a one year low of $1.89 and a one year high of $19.54.

MacroGenics (NASDAQ:MGNX) last announced its earnings results on Thursday, March 20th. The biopharmaceutical company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.02). MacroGenics had a negative return on equity of 89.42% and a negative net margin of 69.07%. The firm had revenue of $49.40 million during the quarter, compared to the consensus estimate of $34.17 million. Analysts expect that MacroGenics will post -1.06 EPS for the current fiscal year.

Institutional Trading of MacroGenics

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Lazard Asset Management LLC bought a new stake in MacroGenics during the fourth quarter worth about $32,000. XTX Topco Ltd bought a new stake in shares of MacroGenics in the 3rd quarter worth approximately $37,000. American Century Companies Inc. bought a new stake in shares of MacroGenics in the 4th quarter worth approximately $38,000. Sanders Morris Harris LLC purchased a new stake in shares of MacroGenics in the 4th quarter worth approximately $40,000. Finally, Jump Financial LLC bought a new position in MacroGenics during the 4th quarter valued at approximately $44,000. 96.89% of the stock is owned by hedge funds and other institutional investors.

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.