HC Wainwright Reiterates Neutral Rating for MacroGenics (NASDAQ:MGNX)

HC Wainwright reaffirmed their neutral rating on shares of MacroGenics (NASDAQ:MGNX) in a research note issued to investors on Wednesday morning, Benzinga reports. HC Wainwright currently has a $4.00 price target on the biopharmaceutical company’s stock.

Several other equities research analysts have also commented on the stock. Guggenheim lowered shares of MacroGenics from a buy rating to a neutral rating in a research report on Wednesday, July 31st. BTIG Research lowered shares of MacroGenics from a buy rating to a neutral rating in a research report on Thursday, August 1st. JMP Securities reduced their price target on shares of MacroGenics from $16.00 to $8.00 and set a market outperform rating for the company in a research report on Wednesday, July 31st. StockNews.com lowered MacroGenics from a hold rating to a sell rating in a research note on Thursday, August 8th. Finally, BMO Capital Markets dropped their price objective on MacroGenics from $8.00 to $5.00 and set a market perform rating for the company in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Hold and an average target price of $8.11.

MacroGenics Stock Down 3.2 %

Shares of MacroGenics stock opened at $3.28 on Wednesday. The firm has a market cap of $205.44 million, a price-to-earnings ratio of -8.41 and a beta of 2.09. MacroGenics has a 52-week low of $3.14 and a 52-week high of $21.88. The company’s 50-day simple moving average is $3.91 and its 200-day simple moving average is $8.06.

MacroGenics (NASDAQ:MGNX) last issued its earnings results on Tuesday, August 6th. The biopharmaceutical company reported ($0.89) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.42). MacroGenics had a negative return on equity of 146.01% and a negative net margin of 332.47%. The business had revenue of $10.80 million for the quarter, compared to analysts’ expectations of $24.14 million. Equities research analysts anticipate that MacroGenics will post -1.72 EPS for the current year.

Institutional Trading of MacroGenics

A number of large investors have recently made changes to their positions in MGNX. Avoro Capital Advisors LLC purchased a new position in MacroGenics in the 1st quarter valued at about $90,528,000. Armistice Capital LLC boosted its position in MacroGenics by 150.0% during the second quarter. Armistice Capital LLC now owns 6,000,000 shares of the biopharmaceutical company’s stock worth $25,500,000 after acquiring an additional 3,600,000 shares during the last quarter. Millennium Management LLC grew its stake in MacroGenics by 3,473.7% in the 2nd quarter. Millennium Management LLC now owns 3,312,672 shares of the biopharmaceutical company’s stock worth $14,079,000 after acquiring an additional 3,219,977 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in MacroGenics by 8,361.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,438,050 shares of the biopharmaceutical company’s stock valued at $35,889,000 after acquiring an additional 2,409,237 shares during the last quarter. Finally, Marshall Wace LLP lifted its stake in shares of MacroGenics by 1,689.3% during the 2nd quarter. Marshall Wace LLP now owns 658,007 shares of the biopharmaceutical company’s stock worth $2,797,000 after purchasing an additional 621,232 shares during the period. Institutional investors and hedge funds 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.