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

Shares of MacroGenics, Inc. (NASDAQ:MGNX) have been given an average recommendation of “Hold” by the eleven ratings firms that are currently covering the firm, Marketbeat.com reports. Eight investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokers that have covered the stock in the last year is $7.63.

A number of analysts recently commented on MGNX shares. StockNews.com upgraded MacroGenics from a “sell” rating to a “buy” rating in a research report on Sunday, November 10th. HC Wainwright reissued a “neutral” rating and issued a $4.00 price objective on shares of MacroGenics in a research report on Wednesday, November 6th. JMP Securities downgraded shares of MacroGenics from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 7th. Finally, Evercore ISI raised shares of MacroGenics to a “strong-buy” rating in a research note on Monday, September 16th.

Institutional Investors Weigh In On MacroGenics

Several hedge funds and other institutional investors have recently bought and sold shares of MGNX. Diversified Trust Co raised its holdings in shares of MacroGenics by 32.8% during the second quarter. Diversified Trust Co now owns 18,097 shares of the biopharmaceutical company’s stock worth $77,000 after purchasing an additional 4,467 shares during the period. Bank of New York Mellon Corp grew its stake in MacroGenics by 4.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 261,944 shares of the biopharmaceutical company’s stock worth $1,113,000 after buying an additional 12,237 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in MacroGenics by 300.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,072 shares of the biopharmaceutical company’s stock worth $68,000 after buying an additional 12,060 shares during the period. Panagora Asset Management Inc. boosted its holdings in shares of MacroGenics by 60.0% during the second quarter. Panagora Asset Management Inc. now owns 741,490 shares of the biopharmaceutical company’s stock valued at $3,151,000 after acquiring an additional 278,060 shares during the period. Finally, Principal Financial Group Inc. grew its position in shares of MacroGenics by 1.1% during the second quarter. Principal Financial Group Inc. now owns 348,421 shares of the biopharmaceutical company’s stock worth $1,481,000 after acquiring an additional 3,818 shares during the last quarter. 96.89% of the stock is currently owned by hedge funds and other institutional investors.

MacroGenics Trading Down 5.9 %

MGNX stock opened at $3.20 on Friday. The firm has a 50 day moving average of $3.69 and a 200-day moving average of $3.89. The company has a market cap of $200.84 million, a price-to-earnings ratio of -2.03 and a beta of 2.04. MacroGenics has a 12-month low of $2.95 and a 12-month high of $21.88.

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.