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

MacroGenics, Inc. (NASDAQ:MGNX) has earned an average rating of “Hold” from the eleven analysts that are currently covering the company, MarketBeat reports. Eight equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $7.63.

A number of research firms recently issued reports on MGNX. BMO Capital Markets reduced their price objective on MacroGenics from $8.00 to $5.00 and set a “market perform” rating for the company in a research report on Wednesday, August 7th. Evercore ISI raised MacroGenics to a “strong-buy” rating in a research note on Monday, September 16th. Citigroup reduced their price objective on shares of MacroGenics from $16.00 to $14.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Barclays decreased their target price on 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 cut MacroGenics from a “buy” rating to a “neutral” rating in a research note on Thursday, August 1st.

Institutional Investors Weigh In On MacroGenics

Several hedge funds and other institutional investors have recently modified their holdings of the stock. EntryPoint Capital LLC bought a new position in shares of MacroGenics during the 1st quarter worth about $40,000. CANADA LIFE ASSURANCE Co acquired a new position in shares of MacroGenics in the 1st quarter worth approximately $52,000. XTX Topco Ltd bought a new position in shares of MacroGenics during the third quarter valued at $37,000. China Universal Asset Management Co. Ltd. boosted its stake in shares of MacroGenics by 64.0% in the 3rd 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. Finally, DRW Securities LLC acquired a new stake in shares of MacroGenics during the 2nd quarter worth about $56,000. Institutional investors and hedge funds own 96.89% of the company’s stock.

MacroGenics Price Performance

Shares of MGNX opened at $3.48 on Wednesday. MacroGenics has a 12-month low of $2.95 and a 12-month high of $21.88. The business’s fifty day moving average price is $3.66 and its 200 day moving average price is $4.33. The stock has a market capitalization of $218.40 million, a PE ratio of -2.20 and a beta of 2.08.

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.