MacroGenics (NASDAQ:MGNX) Stock Rating Upgraded by Wall Street Zen

MacroGenics (NASDAQ:MGNX) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday.

A number of other analysts also recently commented on the company. Zacks Research downgraded MacroGenics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 1st. Citigroup restated a “market perform” rating on shares of MacroGenics in a research note on Tuesday, February 24th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MacroGenics in a research report on Monday, December 22nd. Finally, Barclays lifted their target price on MacroGenics from $3.00 to $4.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 10th. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $3.80.

MacroGenics Stock Performance

Shares of MGNX stock opened at $3.00 on Friday. The company has a market capitalization of $190.68 million, a price-to-earnings ratio of -2.56 and a beta of 1.45. MacroGenics has a 52-week low of $0.99 and a 52-week high of $3.54. The company has a 50-day simple moving average of $1.93 and a two-hundred day simple moving average of $1.72.

MacroGenics (NASDAQ:MGNX) last posted its earnings results on Monday, March 9th. The biopharmaceutical company reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.42) by $0.20. MacroGenics had a negative net margin of 49.91% and a negative return on equity of 120.19%. The firm had revenue of $41.23 million for the quarter, compared to analysts’ expectations of $27.81 million. On average, sell-side analysts forecast that MacroGenics will post -1.06 EPS for the current fiscal year.

Institutional Trading of MacroGenics

Hedge funds have recently made changes to their positions in the company. Invesco Ltd. lifted its position in shares of MacroGenics by 31.6% during the 4th quarter. Invesco Ltd. now owns 111,121 shares of the biopharmaceutical company’s stock valued at $179,000 after buying an additional 26,668 shares during the last quarter. Mackenzie Financial Corp purchased a new stake in MacroGenics in the 4th quarter worth about $324,000. XTX Topco Ltd raised its stake in MacroGenics by 38.2% in the 4th quarter. XTX Topco Ltd now owns 240,327 shares of the biopharmaceutical company’s stock valued at $387,000 after acquiring an additional 66,368 shares during the period. Quadrature Capital Ltd lifted its holdings in MacroGenics by 521.5% during the fourth quarter. Quadrature Capital Ltd now owns 265,465 shares of the biopharmaceutical company’s stock valued at $427,000 after purchasing an additional 222,751 shares during the last quarter. Finally, Armistice Capital LLC lifted its holdings in MacroGenics by 6.1% during the fourth quarter. Armistice Capital LLC now owns 6,324,000 shares of the biopharmaceutical company’s stock valued at $10,182,000 after purchasing an additional 364,000 shares during the last quarter. 96.89% of the stock is currently owned by institutional investors.

About MacroGenics

MacroGenics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of monoclonal antibody–based therapeutics for the treatment of cancer and autoimmune diseases. The company leverages proprietary Fc engineering technologies to enhance immune engagement and extend the activity of its antibodies. Since its founding in 2000, MacroGenics has advanced several product candidates through clinical trials, most notably margetuximab, a HER2-targeted antibody designed to improve outcomes in patients with HER2-positive breast cancer.

Central to MacroGenics’ research platform are its ADAPTIR and Trident bispecific antibody technologies.