MacroGenics (NASDAQ:MGNX) Cut to Market Perform at JMP Securities

JMP Securities lowered shares of MacroGenics (NASDAQ:MGNX) from an outperform rating to a market perform rating in a research report released on Thursday morning, Marketbeat reports.

Other analysts also recently issued reports about the stock. BMO Capital Markets cut their target price on shares of MacroGenics from $8.00 to $5.00 and set a “market perform” rating on the stock in a research note on Wednesday, August 7th. Citigroup reduced their price objective on MacroGenics from $16.00 to $14.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. B. Riley cut MacroGenics from a “buy” rating to a “neutral” rating and lowered their target price for the company from $18.00 to $5.00 in a research note 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. Finally, StockNews.com downgraded shares of MacroGenics from a “hold” rating to a “sell” rating in a research report on Saturday, November 2nd. Eight investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $7.63.

MacroGenics Price Performance

MacroGenics stock opened at $4.35 on Thursday. MacroGenics has a fifty-two week low of $2.95 and a fifty-two week high of $21.88. The firm’s 50 day simple moving average is $3.61 and its 200-day simple moving average is $4.96. The company has a market cap of $273.01 million, a P/E ratio of -2.75 and a beta of 2.08.

Institutional Investors Weigh In On MacroGenics

Large investors have recently added to or reduced their stakes in the stock. EntryPoint Capital LLC acquired a new position in MacroGenics in the 1st quarter valued at $40,000. China Universal Asset Management Co. Ltd. boosted its stake in MacroGenics by 64.0% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 12,064 shares of the biopharmaceutical company’s stock valued at $40,000 after purchasing an additional 4,707 shares during the period. CANADA LIFE ASSURANCE Co acquired a new stake in MacroGenics in the 1st quarter valued at approximately $52,000. SG Americas Securities LLC bought a new position in MacroGenics in the 3rd quarter worth approximately $55,000. Finally, DRW Securities LLC acquired a new position in shares of MacroGenics during the second quarter worth approximately $56,000. Institutional investors own 96.89% of the company’s stock.

MacroGenics Company Profile

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.