MacroGenics (NASDAQ:MGNX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday, January 3rd.
According to Zacks, “MacroGenics Inc. is a biopharmaceutical company. It is focused on discovering and developing innovative monoclonal antibody-based therapeutics. The Company has a diverse portfolio of product candidates focused in three therapeutic areas: oncology, autoimmune disorders and infectious diseases. MacroGenics Inc. is headquartered in Rockville, Maryland. “
Several other research analysts also recently commented on MGNX. Wedbush reaffirmed an “outperform” rating and issued a $44.00 price objective on shares of MacroGenics in a report on Monday, September 11th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $34.00 price objective on shares of MacroGenics in a report on Tuesday, September 12th. Cowen reaffirmed a “buy” rating on shares of MacroGenics in a report on Wednesday, October 25th. Citigroup raised their price target on shares of MacroGenics from $18.00 to $22.00 and gave the company a “neutral” rating in a report on Friday, November 10th. Finally, ValuEngine downgraded shares of MacroGenics from a “sell” rating to a “strong sell” rating in a report on Tuesday, November 14th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $30.10.
Shares of MacroGenics (NASDAQ MGNX) traded down $0.23 during mid-day trading on Wednesday, hitting $19.45. 127,100 shares of the stock traded hands, compared to its average volume of 147,050. MacroGenics has a 12 month low of $14.36 and a 12 month high of $22.31. The stock has a market cap of $724.67, a price-to-earnings ratio of -4.33 and a beta of 2.73.
MacroGenics (NASDAQ:MGNX) last issued its quarterly earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($1.28) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.09) by ($0.19). MacroGenics had a negative return on equity of 69.31% and a negative net margin of 1,526.55%. The company had revenue of $1.70 million for the quarter, compared to analysts’ expectations of $5.50 million. During the same quarter in the previous year, the business earned ($0.97) EPS. The company’s revenue for the quarter was down 48.5% on a year-over-year basis. equities research analysts expect that MacroGenics will post -0.7 EPS for the current year.
In other news, SVP Jon Marc Wigginton sold 10,000 shares of MacroGenics stock in a transaction on Wednesday, October 25th. The shares were sold at an average price of $20.00, for a total transaction of $200,000.00. Following the completion of the sale, the senior vice president now directly owns 40,000 shares of the company’s stock, valued at approximately $800,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 8.30% of the company’s stock.
A number of large investors have recently modified their holdings of the stock. Point72 Asset Management L.P. raised its position in MacroGenics by 8.9% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,181,317 shares of the biopharmaceutical company’s stock worth $21,831,000 after purchasing an additional 96,900 shares during the period. Cornerstone Capital Management Holdings LLC. increased its position in shares of MacroGenics by 43.9% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 33,438 shares of the biopharmaceutical company’s stock valued at $617,000 after acquiring an additional 10,200 shares during the period. Granite Point Capital Management L.P. purchased a new position in shares of MacroGenics in the third quarter valued at about $756,000. Pinnacle Associates Ltd. increased its position in shares of MacroGenics by 38.3% in the third quarter. Pinnacle Associates Ltd. now owns 843,175 shares of the biopharmaceutical company’s stock valued at $15,582,000 after acquiring an additional 233,657 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of MacroGenics by 56.9% in the third quarter. Dimensional Fund Advisors LP now owns 283,517 shares of the biopharmaceutical company’s stock valued at $5,239,000 after acquiring an additional 102,778 shares during the period. Institutional investors own 85.77% of the company’s stock.
MacroGenics Company Profile
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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