MacroGenics (NASDAQ:MGNX) Cut to Hold at StockNews.com

StockNews.com cut shares of MacroGenics (NASDAQ:MGNX) from a buy rating to a hold rating in a research note published on Friday morning.

MacroGenics Stock Down 4.8 %

Shares of MacroGenics stock opened at $2.00 on Friday. The company has a market cap of $125.53 million, a PE ratio of -1.27 and a beta of 2.12. MacroGenics has a 52 week low of $1.89 and a 52 week high of $19.54. The business has a 50 day moving average price of $2.66 and a 200-day moving average price of $3.22.

MacroGenics (NASDAQ:MGNX) last issued its quarterly earnings data on Thursday, March 20th. The biopharmaceutical company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.02). The company had revenue of $49.40 million during the quarter, compared to analysts’ expectations of $34.17 million. MacroGenics had a negative return on equity of 89.42% and a negative net margin of 69.07%. As a group, research analysts anticipate that MacroGenics will post -1.06 EPS for the current year.

Institutional Trading of MacroGenics

Institutional investors and hedge funds have recently modified their holdings of the stock. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of MacroGenics by 39.3% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 661,914 shares of the biopharmaceutical company’s stock valued at $2,178,000 after acquiring an additional 186,858 shares in the last quarter. Barclays PLC grew its holdings in shares of MacroGenics by 97.1% in the third quarter. Barclays PLC now owns 98,753 shares of the biopharmaceutical company’s stock valued at $325,000 after acquiring an additional 48,639 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of MacroGenics by 104.5% in the fourth quarter. SG Americas Securities LLC now owns 34,399 shares of the biopharmaceutical company’s stock valued at $112,000 after acquiring an additional 17,577 shares in the last quarter. Stifel Financial Corp grew its holdings in shares of MacroGenics by 19.7% in the third quarter. Stifel Financial Corp now owns 39,888 shares of the biopharmaceutical company’s stock valued at $131,000 after acquiring an additional 6,578 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its holdings in shares of MacroGenics by 35.2% in the third quarter. Jacobs Levy Equity Management Inc. now owns 566,328 shares of the biopharmaceutical company’s stock valued at $1,863,000 after acquiring an additional 147,438 shares in the last quarter. 96.89% of the stock is owned by hedge funds and other 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.