Cowen Downgrades MacroGenics (NASDAQ:MGNX) to Market Perform

Cowen cut shares of MacroGenics (NASDAQ:MGNXGet Rating) from an outperform rating to a market perform rating in a research note issued to investors on Tuesday, Marketbeat Ratings reports.

A number of other analysts also recently issued reports on the company. Cowen downgraded MacroGenics from an outperform rating to a market perform rating in a research report on Tuesday. StockNews.com assumed coverage on MacroGenics in a research report on Wednesday, October 12th. They issued a hold rating on the stock. Citigroup lifted their price target on MacroGenics from $13.00 to $16.00 and gave the stock a buy rating in a report on Monday, August 29th. BMO Capital Markets upgraded MacroGenics from a market perform rating to an outperform rating and lifted their price target for the stock from $5.70 to $16.00 in a report on Monday, November 14th. Finally, SVB Leerink reduced their price target on MacroGenics from $15.00 to $12.00 and set an outperform rating for the company in a report on Tuesday, August 9th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, MacroGenics has an average rating of Moderate Buy and an average target price of $10.89.

MacroGenics Stock Down 0.2 %

NASDAQ:MGNX opened at $6.17 on Tuesday. The stock’s 50-day simple moving average is $4.64 and its 200 day simple moving average is $4.02. MacroGenics has a 52-week low of $2.13 and a 52-week high of $19.73.

Insider Transactions at MacroGenics

In other news, major shareholder Target N. V. Biotech acquired 168,422 shares of MacroGenics stock in a transaction dated Wednesday, October 19th. The stock was bought at an average price of $3.70 per share, for a total transaction of $623,161.40. Following the completion of the acquisition, the insider now directly owns 7,443,986 shares in the company, valued at approximately $27,542,748.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, major shareholder Target N. V. Biotech acquired 168,422 shares of MacroGenics stock in a transaction dated Wednesday, October 19th. The stock was bought at an average price of $3.70 per share, for a total transaction of $623,161.40. Following the completion of the acquisition, the insider now directly owns 7,443,986 shares in the company, valued at approximately $27,542,748.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Target N. V. Biotech acquired 250,000 shares of MacroGenics stock in a transaction dated Monday, October 24th. The shares were purchased at an average price of $4.36 per share, with a total value of $1,090,000.00. Following the acquisition, the insider now owns 8,229,963 shares of the company’s stock, valued at $35,882,638.68. The disclosure for this purchase can be found here. Insiders bought a total of 668,422 shares of company stock worth $2,870,661 over the last quarter. Company insiders own 7.90% of the company’s stock.

Institutional Investors Weigh In On MacroGenics

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. State Street Corp raised its position in shares of MacroGenics by 8.6% in the third quarter. State Street Corp now owns 1,377,304 shares of the biopharmaceutical company’s stock valued at $4,765,000 after buying an additional 108,750 shares in the last quarter. Vanguard Group Inc. raised its position in shares of MacroGenics by 6.4% in the third quarter. Vanguard Group Inc. now owns 4,182,241 shares of the biopharmaceutical company’s stock valued at $14,470,000 after buying an additional 251,279 shares in the last quarter. Pura Vida Investments LLC acquired a new stake in shares of MacroGenics in the third quarter valued at approximately $182,000. Martingale Asset Management L P acquired a new stake in shares of MacroGenics in the third quarter valued at approximately $51,000. Finally, EcoR1 Capital LLC acquired a new stake in shares of MacroGenics in the third quarter valued at approximately $3,221,000.

MacroGenics Company Profile

(Get Rating)

MacroGenics, Inc, a biopharmaceutical company, develops 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.

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Analyst Recommendations for MacroGenics (NASDAQ:MGNX)

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