ValuEngine lowered shares of MacroGenics, Inc. (NASDAQ:MGNX) from a sell rating to a strong sell rating in a research report report published on Thursday morning.

Several other research firms also recently commented on MGNX. Zacks Investment Research upgraded shares of MacroGenics from a sell rating to a hold rating and set a $19.00 price target for the company in a research note on Tuesday, July 18th. BidaskClub downgraded shares of MacroGenics from a hold rating to a sell rating in a research note on Monday, July 31st. Finally, Morgan Stanley dropped their price target on shares of MacroGenics from $24.00 to $22.00 and set an equal weight rating for the company in a research note on Monday, May 8th. Three analysts have rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $32.40.

Shares of MacroGenics (MGNX) traded up 2.86% during mid-day trading on Thursday, reaching $17.28. The company’s stock had a trading volume of 404,667 shares. MacroGenics has a one year low of $15.70 and a one year high of $33.30. The stock has a 50 day moving average of $17.76 and a 200-day moving average of $18.87. The stock’s market cap is $635.87 million.

MacroGenics (NASDAQ:MGNX) last posted its quarterly earnings results on Wednesday, August 2nd. The biopharmaceutical company reported ($1.14) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.05) by $0.09. The business had revenue of $1.70 million during the quarter, compared to analyst estimates of $15.82 million. MacroGenics had a negative return on equity of 56.81% and a negative net margin of 1,216.51%. The business’s revenue was down 97.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.12 EPS. On average, equities research analysts expect that MacroGenics will post ($4.08) EPS for the current fiscal year.

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In other MacroGenics news, SVP Jon Marc Wigginton sold 5,000 shares of the company’s stock in a transaction on Monday, June 5th. The shares were sold at an average price of $20.00, for a total value of $100,000.00. Following the completion of the transaction, the senior vice president now owns 35,000 shares in the company, valued at $700,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 8.30% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. BB Biotech AG increased its position in MacroGenics by 17.7% in the first quarter. BB Biotech AG now owns 2,260,000 shares of the biopharmaceutical company’s stock valued at $42,036,000 after buying an additional 340,000 shares in the last quarter. OppenheimerFunds Inc. increased its position in MacroGenics by 9.4% in the first quarter. OppenheimerFunds Inc. now owns 3,323,025 shares of the biopharmaceutical company’s stock valued at $61,808,000 after buying an additional 286,018 shares in the last quarter. MARSHALL WACE ASIA Ltd bought a new position in MacroGenics during the first quarter valued at about $4,514,000. Marshall Wace North America L.P. bought a new position in MacroGenics during the first quarter valued at about $4,514,000. Finally, Bellevue Group AG increased its position in MacroGenics by 267.0% in the first quarter. Bellevue Group AG now owns 304,597 shares of the biopharmaceutical company’s stock valued at $5,666,000 after buying an additional 221,597 shares in the last quarter. Institutional investors own 82.96% of the company’s stock.

About MacroGenics

MacroGenics, Inc is a clinical-stage biopharmaceutical company focused on discovering and developing monoclonal antibody-based therapeutics for the treatment of cancer, as well as various autoimmune disorders and infectious diseases. The Company develops therapeutic product candidates using its antibody-based technology platforms and also in collaboration with other biopharmaceutical companies.

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Analyst Recommendations for MacroGenics (NASDAQ:MGNX)

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