MacroGenics (NASDAQ:MGNX) was downgraded by stock analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued to investors on Thursday.
Several other equities analysts have also issued reports on MGNX. Cowen restated a “buy” rating on shares of MacroGenics in a research note on Wednesday, October 25th. Zacks Investment Research lowered MacroGenics from a “hold” rating to a “sell” rating in a research note on Wednesday, October 4th. ValuEngine upgraded MacroGenics from a “strong sell” rating to a “sell” rating in a research note on Friday, December 1st. Raymond James Financial restated a “buy” rating on shares of MacroGenics in a research note on Monday, December 11th. Finally, Citigroup boosted their price target on MacroGenics from $18.00 to $22.00 and gave the company a “neutral” rating in a research note on Friday, November 10th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $30.10.
MacroGenics (MGNX) traded down $0.23 during trading on Thursday, hitting $19.45. The stock had a trading volume of 126,500 shares, compared to its average volume of 147,057. The company has a market capitalization of $713.62, a price-to-earnings ratio of -4.33 and a beta of 2.73. MacroGenics has a twelve month low of $14.36 and a twelve month high of $22.31.
MacroGenics (NASDAQ:MGNX) last posted its quarterly earnings data on Wednesday, November 8th. The biopharmaceutical company reported ($1.28) EPS for the quarter, missing analysts’ consensus estimates of ($1.09) by ($0.19). The business had revenue of $1.70 million during the quarter, compared to the consensus estimate of $5.50 million. MacroGenics had a negative return on equity of 69.31% and a negative net margin of 1,526.55%. The company’s revenue for the quarter was down 48.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.97) earnings per share. equities analysts expect that MacroGenics will post -0.7 EPS for the current year.
In other news, SVP Jon Marc Wigginton sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $20.00, for a total value of $100,000.00. Following the transaction, the senior vice president now directly owns 35,000 shares of the company’s stock, valued at approximately $700,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.30% of the stock is owned by insiders.
A number of large investors have recently bought and sold shares of MGNX. Russell Investments Group Ltd. acquired a new position in MacroGenics during the 2nd quarter worth $133,000. Schwab Charles Investment Management Inc. lifted its holdings in MacroGenics by 21.0% during the 2nd 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 in the last quarter. Rhumbline Advisers lifted its holdings in MacroGenics by 10.3% during the 2nd quarter. Rhumbline Advisers now owns 40,105 shares of the biopharmaceutical company’s stock worth $702,000 after buying an additional 3,755 shares in the last quarter. State of Wisconsin Investment Board acquired a new position in MacroGenics during the 2nd quarter worth $438,000. Finally, SG Americas Securities LLC lifted its holdings in MacroGenics by 92.2% during the 2nd quarter. SG Americas Securities LLC now owns 10,812 shares of the biopharmaceutical company’s stock worth $189,000 after buying an additional 5,187 shares in the last quarter. 85.77% of the stock is currently owned by hedge funds and other institutional investors.
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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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