MacroGenics (NASDAQ:MGNX) Upgraded at StockNews.com

StockNews.com upgraded shares of MacroGenics (NASDAQ:MGNX) from a sell rating to a buy rating in a research note published on Sunday morning.

A number of other brokerages have also commented on MGNX. BMO Capital Markets decreased their target price 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. HC Wainwright reaffirmed a “neutral” rating and set a $4.00 target price on shares of MacroGenics in a research report on Wednesday, November 6th. BTIG Research downgraded shares of MacroGenics from a “buy” rating to a “neutral” rating in a research report on Thursday, August 1st. Evercore ISI upgraded shares of MacroGenics to a “strong-buy” rating in a report on Monday, September 16th. Finally, B. Riley cut shares of MacroGenics from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $18.00 to $5.00 in a report on Wednesday, July 31st. Eight equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $7.63.

MacroGenics Stock Down 6.6 %

Shares of NASDAQ MGNX opened at $4.10 on Friday. The firm has a market cap of $257.33 million, a PE ratio of -2.59 and a beta of 2.08. The company’s fifty day simple moving average is $3.64 and its 200 day simple moving average is $4.74. MacroGenics has a 12-month low of $2.95 and a 12-month high of $21.88.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of MGNX. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of MacroGenics by 15.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 57,060 shares of the biopharmaceutical company’s stock worth $840,000 after purchasing an additional 7,723 shares during the period. Swiss National Bank bought a new stake in MacroGenics in the first quarter worth about $1,351,000. Susquehanna Fundamental Investments LLC boosted its stake in MacroGenics by 597.4% in the first quarter. Susquehanna Fundamental Investments LLC now owns 105,787 shares of the biopharmaceutical company’s stock valued at $1,557,000 after acquiring an additional 90,619 shares during the last quarter. ProShare Advisors LLC grew its position in shares of MacroGenics by 8.9% during the 1st quarter. ProShare Advisors LLC now owns 15,282 shares of the biopharmaceutical company’s stock valued at $225,000 after acquiring an additional 1,246 shares during the period. Finally, CANADA LIFE ASSURANCE Co purchased a new stake in shares of MacroGenics during the 1st quarter worth approximately $52,000. Hedge funds and other institutional investors own 96.89% of the company’s stock.

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.