MacroGenics (NASDAQ:MGNX) Given New $4.00 Price Target at HC Wainwright

MacroGenics (NASDAQ:MGNX) had its target price lowered by HC Wainwright from $16.00 to $4.00 in a report issued on Monday, Benzinga reports. The brokerage currently has a neutral rating on the biopharmaceutical company’s stock. HC Wainwright also issued estimates for MacroGenics’ Q2 2024 earnings at ($0.70) EPS, Q3 2024 earnings at ($0.72) EPS, Q4 2024 earnings at ($0.74) EPS, FY2024 earnings at ($3.00) EPS, Q1 2025 earnings at ($0.76) EPS, Q2 2025 earnings at ($0.78) EPS, Q3 2025 earnings at ($0.80) EPS, Q4 2025 earnings at ($0.82) EPS and FY2025 earnings at ($3.16) EPS.

Other equities analysts also recently issued reports about the company. BMO Capital Markets downgraded MacroGenics from an outperform rating to a market perform rating and decreased their price target for the stock from $24.00 to $8.00 in a research note on Friday, May 10th. TD Cowen downgraded MacroGenics from a buy rating to a hold rating in a report on Friday, May 10th. Stifel Nicolaus lowered MacroGenics from a buy rating to a hold rating and dropped their price target for the company from $29.00 to $7.00 in a research report on Friday, May 10th. BTIG Research lifted their price objective on shares of MacroGenics from $12.00 to $24.00 and gave the stock a buy rating in a report on Monday, March 4th. Finally, JMP Securities dropped their target price on shares of MacroGenics from $22.00 to $16.00 and set a market outperform rating on the stock in a report on Friday, May 10th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $13.67.

MacroGenics Stock Down 5.9 %

Shares of MacroGenics stock traded down $0.30 on Monday, hitting $4.82. 1,347,160 shares of the company’s stock traded hands, compared to its average volume of 2,028,056. MacroGenics has a 52-week low of $3.14 and a 52-week high of $21.88. The stock has a market cap of $301.88 million, a P/E ratio of -12.36 and a beta of 2.09. The firm’s 50-day moving average is $14.70 and its 200 day moving average is $12.60.

MacroGenics (NASDAQ:MGNX) last posted its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($0.84) EPS for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.17). The company had revenue of $9.10 million for the quarter, compared to the consensus estimate of $13.63 million. MacroGenics had a negative net margin of 53.60% and a negative return on equity of 98.01%. Equities research analysts forecast that MacroGenics will post -3.04 EPS for the current year.

Insider Buying and Selling

In other news, VP Jeffrey Stuart Peters sold 51,395 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $15.55, for a total transaction of $799,192.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 11.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of MGNX. California State Teachers Retirement System grew its position in MacroGenics by 378.7% in the 1st quarter. California State Teachers Retirement System now owns 47,955 shares of the biopharmaceutical company’s stock valued at $706,000 after buying an additional 37,938 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in shares of MacroGenics by 28.7% in the first quarter. Jacobs Levy Equity Management Inc. now owns 148,018 shares of the biopharmaceutical company’s stock valued at $2,179,000 after acquiring an additional 33,039 shares in the last quarter. Janus Henderson Group PLC bought a new position in shares of MacroGenics in the first quarter valued at approximately $492,000. Price T Rowe Associates Inc. MD increased its stake in shares of MacroGenics by 8,361.6% during the first 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 period. Finally, Avoro Capital Advisors LLC bought a new stake in MacroGenics during the first quarter worth approximately $90,528,000. 96.89% of the stock is owned by institutional investors and hedge funds.

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.