MacroGenics, Inc. (NASDAQ:MGNX) Receives $7.63 Average PT from Analysts

Shares of MacroGenics, Inc. (NASDAQ:MGNX) have been assigned an average recommendation of “Hold” from the eleven research firms that are presently covering the company, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $7.63.

MGNX has been the subject of several recent analyst reports. StockNews.com upgraded MacroGenics from a “sell” rating to a “buy” rating in a research note on Sunday, November 10th. HC Wainwright restated a “neutral” rating and set a $4.00 price objective on shares of MacroGenics in a report on Wednesday, November 6th. Finally, JMP Securities downgraded shares of MacroGenics from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 7th.

Institutional Trading of MacroGenics

A number of institutional investors have recently added to or reduced their stakes in the business. China Universal Asset Management Co. Ltd. boosted its holdings in MacroGenics by 64.0% during 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 acquiring an additional 4,707 shares during the period. XML Financial LLC lifted its holdings in shares of MacroGenics by 31.6% during the fourth quarter. XML Financial LLC now owns 23,169 shares of the biopharmaceutical company’s stock worth $75,000 after buying an additional 5,569 shares during the last quarter. Stifel Financial Corp raised its stake in MacroGenics by 19.7% during the 3rd quarter. Stifel Financial Corp now owns 39,888 shares of the biopharmaceutical company’s stock valued at $131,000 after purchasing an additional 6,578 shares during the last quarter. XTX Topco Ltd acquired a new stake in MacroGenics in the 3rd quarter worth $37,000. Finally, Sanders Morris Harris LLC bought a new position in shares of MacroGenics during the 4th quarter worth about $40,000. 96.89% of the stock is currently owned by institutional investors and hedge funds.

MacroGenics Stock Performance

Shares of NASDAQ:MGNX opened at $2.98 on Monday. MacroGenics has a one year low of $2.79 and a one year high of $21.88. The business’s 50-day simple moving average is $3.25 and its 200 day simple moving average is $3.55. The company has a market cap of $187.03 million, a P/E ratio of -1.89 and a beta of 2.02.

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.