MacroGenics (NASDAQ:MGNX) Cut to “Sell” at StockNews.com

StockNews.com downgraded shares of MacroGenics (NASDAQ:MGNX) from a hold rating to a sell rating in a research report report published on Saturday.

A number of other equities research analysts also recently weighed in on MGNX. HC Wainwright reaffirmed a “neutral” rating and set a $4.00 price target on shares of MacroGenics in a research note on Wednesday, September 18th. B. Riley downgraded shares of MacroGenics from a “buy” rating to a “neutral” rating and cut their price target for the company from $18.00 to $5.00 in a report on Wednesday, July 31st. Barclays reduced their price objective on shares of MacroGenics from $14.00 to $9.00 and set an “overweight” rating for the company in a research note on Monday, July 29th. BTIG Research lowered MacroGenics from a “buy” rating to a “neutral” rating in a report on Thursday, August 1st. Finally, JMP Securities decreased their price target on MacroGenics from $16.00 to $8.00 and set a “market outperform” rating for the company in a research note on Wednesday, July 31st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $8.11.

MacroGenics Trading Down 4.4 %

Shares of MacroGenics stock opened at $3.70 on Friday. MacroGenics has a 1 year low of $2.95 and a 1 year high of $21.88. The company has a market cap of $232.07 million, a P/E ratio of -1.68 and a beta of 2.08. The stock has a 50-day moving average price of $3.55 and a 200 day moving average price of $5.29.

MacroGenics (NASDAQ:MGNX) last issued its earnings results on Tuesday, August 6th. The biopharmaceutical company reported ($0.89) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.42). MacroGenics had a negative net margin of 332.47% and a negative return on equity of 146.01%. The company had revenue of $10.80 million for the quarter, compared to analyst estimates of $24.14 million. On average, equities analysts forecast that MacroGenics will post -1.72 earnings per share for the current fiscal year.

Institutional Trading of MacroGenics

A number of hedge funds have recently bought and sold shares of MGNX. ProShare Advisors LLC lifted its stake in shares of MacroGenics by 8.9% in the first quarter. ProShare Advisors LLC now owns 15,282 shares of the biopharmaceutical company’s stock valued at $225,000 after buying an additional 1,246 shares during the period. Diversified Trust Co lifted its position in shares of MacroGenics by 16.0% in the 1st quarter. Diversified Trust Co now owns 13,630 shares of the biopharmaceutical company’s stock worth $201,000 after acquiring an additional 1,880 shares during the period. EntryPoint Capital LLC acquired a new stake in shares of MacroGenics during the 1st quarter worth approximately $40,000. CANADA LIFE ASSURANCE Co acquired a new position in shares of MacroGenics in the first quarter valued at $52,000. Finally, Principal Financial Group Inc. lifted its position in MacroGenics by 1.1% in the second quarter. Principal Financial Group Inc. now owns 348,421 shares of the biopharmaceutical company’s stock worth $1,481,000 after purchasing an additional 3,818 shares during the period. 96.89% of the stock is owned by 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.