MacroGenics (NASDAQ:MGNX) Downgraded to Hold Rating by StockNews.com

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

MacroGenics Trading Down 4.8 %

MacroGenics stock opened at $2.00 on Friday. The business’s fifty day simple moving average is $2.66 and its two-hundred day simple moving average is $3.22. MacroGenics has a 12 month low of $1.89 and a 12 month high of $19.54. The company has a market capitalization of $125.53 million, a price-to-earnings ratio of -1.27 and a beta of 2.12.

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

Institutional Trading of MacroGenics

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of MacroGenics by 39.3% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 661,914 shares of the biopharmaceutical company’s stock worth $2,178,000 after purchasing an additional 186,858 shares in the last quarter. Barclays PLC boosted its holdings in shares of MacroGenics by 97.1% in the 3rd quarter. Barclays PLC now owns 98,753 shares of the biopharmaceutical company’s stock worth $325,000 after purchasing an additional 48,639 shares during the period. SG Americas Securities LLC boosted its holdings in shares of MacroGenics by 104.5% in the 4th quarter. SG Americas Securities LLC now owns 34,399 shares of the biopharmaceutical company’s stock worth $112,000 after purchasing an additional 17,577 shares during the period. Stifel Financial Corp lifted its stake in shares of MacroGenics by 19.7% during the 3rd quarter. Stifel Financial Corp now owns 39,888 shares of the biopharmaceutical company’s stock worth $131,000 after acquiring an additional 6,578 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its stake in shares of MacroGenics by 35.2% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 566,328 shares of the biopharmaceutical company’s stock worth $1,863,000 after acquiring an additional 147,438 shares during the last quarter. Hedge funds and other institutional investors own 96.89% of the company’s stock.

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.