MacroGenics, Inc. (NASDAQ:MGNX) Receives $3.60 Consensus Price Target from Analysts

MacroGenics, Inc. (NASDAQ:MGNX) has been assigned a consensus rating of “Hold” from the seven brokerages that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, one has given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $3.60.

A number of research analysts recently weighed in on MGNX shares. HC Wainwright restated a “neutral” rating and issued a $2.00 price objective on shares of MacroGenics in a report on Monday, November 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of MacroGenics in a research note on Monday, December 22nd. Finally, Zacks Research cut MacroGenics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 1st.

Institutional Trading of MacroGenics

Several hedge funds have recently added to or reduced their stakes in MGNX. EcoR1 Capital LLC purchased a new stake in MacroGenics during the 2nd quarter worth about $1,939,000. Acadian Asset Management LLC raised its position in shares of MacroGenics by 7.9% during the 2nd quarter. Acadian Asset Management LLC now owns 2,491,703 shares of the biopharmaceutical company’s stock worth $3,008,000 after acquiring an additional 183,054 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in MacroGenics during the second quarter worth approximately $26,000. Catalyst Funds Management Pty Ltd purchased a new position in MacroGenics in the second quarter valued at approximately $34,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in MacroGenics during the second quarter worth approximately $36,000. Institutional investors and hedge funds own 96.89% of the company’s stock.

MacroGenics Stock Performance

MGNX stock opened at $1.71 on Monday. The business’s fifty day moving average price is $1.67 and its 200 day moving average price is $1.64. MacroGenics has a 12-month low of $0.99 and a 12-month high of $2.95. The company has a market capitalization of $108.17 million, a PE ratio of -1.43 and a beta of 1.50.

MacroGenics Company Profile

MacroGenics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of monoclonal antibody–based therapeutics for the treatment of cancer and autoimmune diseases. The company leverages proprietary Fc engineering technologies to enhance immune engagement and extend the activity of its antibodies. Since its founding in 2000, MacroGenics has advanced several product candidates through clinical trials, most notably margetuximab, a HER2-targeted antibody designed to improve outcomes in patients with HER2-positive breast cancer.

Central to MacroGenics’ research platform are its ADAPTIR and Trident bispecific antibody technologies.