BTIG Research Downgrades MacroGenics (NASDAQ:MGNX) to Neutral

BTIG Research downgraded shares of MacroGenics (NASDAQ:MGNX) from a buy rating to a neutral rating in a research note released on Thursday morning, MarketBeat reports.

Several other research analysts have also recently weighed in on the stock. Barclays lowered their price target on shares of MacroGenics from $14.00 to $9.00 and set an overweight rating on the stock in a report on Monday, July 29th. HC Wainwright reduced their price target on MacroGenics from $16.00 to $4.00 and set a neutral rating for the company in a research note on Monday, May 13th. Stifel Nicolaus downgraded MacroGenics from a buy rating to a hold rating and dropped their target price for the stock from $29.00 to $7.00 in a report on Friday, May 10th. Guggenheim downgraded shares of MacroGenics from a buy rating to a neutral rating in a research note on Wednesday, July 31st. Finally, BMO Capital Markets lowered shares of MacroGenics from an outperform rating to a market perform rating and decreased their target price for the stock from $24.00 to $8.00 in a research report on Friday, May 10th. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, MacroGenics presently has a consensus rating of Hold and an average price target of $8.33.

MacroGenics Trading Down 10.4 %

Shares of MacroGenics stock traded down $0.40 during trading hours on Thursday, reaching $3.43. 30,754 shares of the company’s stock were exchanged, compared to its average volume of 1,841,208. The stock has a market cap of $214.82 million, a P/E ratio of -9.82 and a beta of 2.09. The company has a 50 day moving average of $4.56 and a two-hundred day moving average of $11.13. MacroGenics has a fifty-two week low of $3.14 and a fifty-two week high of $21.88.

MacroGenics (NASDAQ:MGNX) last released its earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.84) earnings per share for the quarter, missing the consensus estimate of ($0.67) by ($0.17). The firm had revenue of $9.10 million during 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%. As a group, analysts expect that MacroGenics will post -2.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. EntryPoint Capital LLC bought a new position in MacroGenics during the 1st quarter valued at $40,000. CANADA LIFE ASSURANCE Co purchased a new position in MacroGenics during the first quarter worth about $52,000. Sound Income Strategies LLC bought a new stake in MacroGenics in the 1st quarter worth about $77,000. AJOVista LLC purchased a new stake in MacroGenics in the 4th quarter valued at about $51,000. Finally, China Universal Asset Management Co. Ltd. lifted its position in shares of MacroGenics by 349.2% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 7,174 shares of the biopharmaceutical company’s stock worth $69,000 after buying an additional 5,577 shares in the last quarter. 96.89% of the stock is owned by institutional investors.

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.