MacroGenics’ (MGNX) Neutral Rating Reaffirmed at HC Wainwright

HC Wainwright reissued their neutral rating on shares of MacroGenics (NASDAQ:MGNX) in a research report report published on Wednesday morning, Benzinga reports. The firm currently has a $4.00 price objective on the biopharmaceutical company’s stock.

MGNX has been the topic of a number of other research reports. Citigroup dropped their price objective on shares of MacroGenics from $16.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Barclays lowered their target price 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. StockNews.com downgraded shares of MacroGenics from a “hold” rating to a “sell” rating in a report on Saturday, November 2nd. Evercore ISI raised shares of MacroGenics to a “strong-buy” rating in a report on Monday, September 16th. Finally, Guggenheim cut shares of MacroGenics from a “buy” rating to a “neutral” rating in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, MacroGenics has a consensus rating of “Hold” and a consensus price target of $8.11.

MacroGenics Price Performance

Shares of MGNX stock traded up $0.40 during mid-day trading on Wednesday, hitting $4.59. The stock had a trading volume of 445,617 shares, compared to its average volume of 1,483,890. The company’s 50-day simple moving average is $3.57 and its 200-day simple moving average is $5.12. The firm has a market cap of $287.88 million, a PE ratio of -2.13 and a beta of 2.08. MacroGenics has a fifty-two week low of $2.95 and a fifty-two week high of $21.88.

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

Institutional Trading of MacroGenics

Large investors have recently modified their holdings of the stock. EntryPoint Capital LLC acquired a new stake in MacroGenics in the first quarter valued at $40,000. China Universal Asset Management Co. Ltd. lifted its stake in shares of MacroGenics by 64.0% in the third quarter. China Universal Asset Management Co. Ltd. now owns 12,064 shares of the biopharmaceutical company’s stock valued at $40,000 after buying an additional 4,707 shares in the last quarter. CANADA LIFE ASSURANCE Co bought a new position in MacroGenics in the 1st quarter valued at about $52,000. SG Americas Securities LLC bought a new position in MacroGenics in the 3rd quarter valued at about $55,000. Finally, DRW Securities LLC bought a new position in MacroGenics in the 2nd quarter valued at about $56,000. 96.89% of the stock is owned by institutional investors and hedge funds.

MacroGenics Company Profile

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.