StockNews.com Downgrades MacroGenics (NASDAQ:MGNX) to Hold

MacroGenics (NASDAQ:MGNX) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Friday.

MacroGenics Stock Down 4.8 %

Shares of MGNX opened at $2.00 on Friday. The company has a market capitalization of $125.53 million, a P/E ratio of -1.27 and a beta of 2.12. MacroGenics has a twelve month low of $1.89 and a twelve month high of $19.54. The firm has a 50 day moving average of $2.66 and a 200 day moving average of $3.22.

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

Hedge Funds Weigh In On MacroGenics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Wasatch Advisors LP grew its stake in shares of MacroGenics by 37.6% in the fourth quarter. Wasatch Advisors LP now owns 3,488,493 shares of the biopharmaceutical company’s stock worth $11,338,000 after acquiring an additional 952,691 shares during the period. Schonfeld Strategic Advisors LLC purchased a new stake in MacroGenics in the fourth quarter worth approximately $2,787,000. JPMorgan Chase & Co. grew its position in MacroGenics by 68.3% in the 4th quarter. JPMorgan Chase & Co. now owns 546,807 shares of the biopharmaceutical company’s stock worth $1,777,000 after purchasing an additional 221,905 shares during the period. Renaissance Technologies LLC raised its stake in MacroGenics by 69.1% during the 4th quarter. Renaissance Technologies LLC now owns 538,523 shares of the biopharmaceutical company’s stock valued at $1,750,000 after buying an additional 220,100 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in MacroGenics by 39.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 661,914 shares of the biopharmaceutical company’s stock valued at $2,178,000 after buying an additional 186,858 shares during the last quarter. Institutional investors 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.