MacroGenics, Inc. (NASDAQ:MGNX) Receives Average Recommendation of “Hold” from Analysts

MacroGenics, Inc. (NASDAQ:MGNX) has received an average rating of “Hold” from the eleven analysts that are covering the firm, Marketbeat.com reports. Eight equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $7.63.

MGNX has been the subject of a number of research analyst reports. Guggenheim downgraded shares of MacroGenics from a “buy” rating to a “neutral” rating in a research note on Wednesday, July 31st. BMO Capital Markets dropped their target price on shares of MacroGenics from $8.00 to $5.00 and set a “market perform” rating for the company in a research note on Wednesday, August 7th. Citigroup dropped their target price on shares of MacroGenics from $16.00 to $14.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Evercore ISI upgraded shares of MacroGenics to a “strong-buy” rating in a research report on Monday, September 16th. Finally, HC Wainwright reiterated a “neutral” rating and set a $4.00 price target on shares of MacroGenics in a research report on Wednesday, November 6th.

MacroGenics Stock Up 3.3 %

Shares of NASDAQ MGNX opened at $3.40 on Wednesday. MacroGenics has a 1-year low of $2.95 and a 1-year high of $21.88. The company has a 50-day moving average of $3.64 and a two-hundred day moving average of $3.99.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. ProShare Advisors LLC grew its holdings in MacroGenics by 8.9% during the first quarter. ProShare Advisors LLC now owns 15,282 shares of the biopharmaceutical company’s stock valued at $225,000 after purchasing an additional 1,246 shares during the period. EntryPoint Capital LLC acquired a new position in MacroGenics during the first quarter valued at approximately $40,000. CANADA LIFE ASSURANCE Co acquired a new position in MacroGenics during the first quarter valued at approximately $52,000. Principal Financial Group Inc. grew its holdings in MacroGenics by 1.1% during the second quarter. Principal Financial Group Inc. now owns 348,421 shares of the biopharmaceutical company’s stock valued at $1,481,000 after purchasing an additional 3,818 shares during the period. Finally, Diversified Trust Co grew its holdings in MacroGenics by 32.8% during the second quarter. Diversified Trust Co now owns 18,097 shares of the biopharmaceutical company’s stock valued at $77,000 after purchasing an additional 4,467 shares during the period. Institutional investors and hedge funds 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.