Brokerages Set MacroGenics, Inc. (NASDAQ:MGNX) Price Target at $7.63

Shares of MacroGenics, Inc. (NASDAQ:MGNX) have received a consensus recommendation of “Hold” from the eleven research firms that are presently covering the firm, Marketbeat.com reports. Eight investment analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $7.63.

MGNX has been the subject of several research analyst reports. Citigroup reduced their price target on shares of MacroGenics from $16.00 to $14.00 and set a “buy” rating for the company in a report on Thursday, August 15th. JMP Securities lowered shares of MacroGenics from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 7th. 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. Finally, Evercore ISI raised shares of MacroGenics to a “strong-buy” rating in a research report on Monday, September 16th.

MacroGenics Trading Up 3.3 %

MacroGenics stock opened at $3.40 on Wednesday. MacroGenics has a twelve month low of $2.95 and a twelve month high of $21.88. The company has a 50 day moving average of $3.64 and a 200-day moving average of $3.99.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of MGNX. Swiss National Bank bought a new position in shares of MacroGenics in the 1st quarter valued at about $1,351,000. ProShare Advisors LLC grew its position in shares of MacroGenics by 8.9% in the 1st quarter. ProShare Advisors LLC now owns 15,282 shares of the biopharmaceutical company’s stock valued at $225,000 after acquiring an additional 1,246 shares during the period. CANADA LIFE ASSURANCE Co bought a new position in shares of MacroGenics in the 1st quarter valued at about $52,000. EntryPoint Capital LLC bought a new position in shares of MacroGenics in the 1st quarter valued at about $40,000. Finally, Avoro Capital Advisors LLC bought a new stake in shares of MacroGenics during the 1st quarter worth about $90,528,000. Institutional investors 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.