Analysts Set MacroGenics, Inc. (NASDAQ:MGNX) PT at $7.63

Shares of MacroGenics, Inc. (NASDAQ:MGNX) have received an average rating of “Hold” from the eleven research firms that are currently covering the company, MarketBeat Ratings reports. Eight research analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $7.63.

MGNX has been the subject of a number of research analyst reports. JMP Securities downgraded shares of MacroGenics from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 7th. HC Wainwright reiterated a “neutral” rating and set a $4.00 price objective on shares of MacroGenics in a report on Wednesday, November 6th. Finally, StockNews.com upgraded MacroGenics from a “sell” rating to a “buy” rating in a research note on Sunday, November 10th.

MacroGenics Price Performance

NASDAQ MGNX opened at $2.60 on Monday. The firm has a market capitalization of $163.18 million, a price-to-earnings ratio of -1.65 and a beta of 2.02. The company has a 50 day simple moving average of $3.21 and a 200-day simple moving average of $3.53. MacroGenics has a 52-week low of $2.59 and a 52-week high of $21.88.

Institutional Trading of MacroGenics

Large investors have recently made changes to their positions in the stock. Millennium Management LLC lifted its holdings in MacroGenics by 3,473.7% in the 2nd quarter. Millennium Management LLC now owns 3,312,672 shares of the biopharmaceutical company’s stock worth $14,079,000 after purchasing an additional 3,219,977 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of MacroGenics by 39.3% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 661,914 shares of the biopharmaceutical company’s stock valued at $2,178,000 after purchasing an additional 186,858 shares during the period. Jacobs Levy Equity Management Inc. lifted its stake in shares of MacroGenics by 35.2% in the third quarter. Jacobs Levy Equity Management Inc. now owns 566,328 shares of the biopharmaceutical company’s stock worth $1,863,000 after buying an additional 147,438 shares during the last quarter. FMR LLC boosted its holdings in shares of MacroGenics by 1,230.1% during the 3rd quarter. FMR LLC now owns 137,215 shares of the biopharmaceutical company’s stock worth $451,000 after buying an additional 126,899 shares during the period. Finally, GSA Capital Partners LLP grew its stake in MacroGenics by 117.2% in the 3rd quarter. GSA Capital Partners LLP now owns 207,877 shares of the biopharmaceutical company’s stock valued at $684,000 after buying an additional 112,188 shares during the last quarter. 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.