MacroGenics, Inc. (NASDAQ:MGNX) Stock Has Consensus Target Price of $6.33

Shares of MacroGenics, Inc. (NASDAQ:MGNX) have received an average recommendation of “Hold” from the six analysts that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $6.33.

A number of research firms have recently issued reports on MGNX. Weiss Ratings reissued a “sell (d-)” rating on shares of MacroGenics in a research report on Wednesday, August 5th. B. Riley Financial lifted their price objective on MacroGenics from $9.00 to $11.00 and gave the company a “buy” rating in a report on Monday, August 17th.

Insider Transactions at MacroGenics

In other MacroGenics news, VP Jeffrey Peters sold 31,105 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $4.15, for a total transaction of $129,085.75. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 13.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On MacroGenics

Several hedge funds have recently modified their holdings of the business. Spark Investment Management LLC purchased a new position in MacroGenics during the second quarter valued at approximately $79,000. Velan Capital Investment Management LP raised its stake in MacroGenics by 100.0% in the second quarter. Velan Capital Investment Management LP now owns 60,000 shares of the biopharmaceutical company’s stock worth $277,000 after buying an additional 30,000 shares in the last quarter. Headlands Technologies LLC lifted its holdings in MacroGenics by 108.7% during the second quarter. Headlands Technologies LLC now owns 99,188 shares of the biopharmaceutical company’s stock worth $458,000 after buying an additional 51,657 shares during the period. Susquehanna Fundamental Investments LLC purchased a new stake in MacroGenics during the second quarter worth $138,000. Finally, Two Sigma Securities LLC bought a new stake in MacroGenics during the 2nd quarter valued at $63,000. Hedge funds and other institutional investors own 96.89% of the company’s stock.

MacroGenics Stock Performance

Shares of NASDAQ MGNX opened at $3.80 on Tuesday. The firm has a market capitalization of $242.06 million, a price-to-earnings ratio of -17.27 and a beta of 1.22. The stock has a 50 day moving average price of $4.07 and a 200 day moving average price of $3.86. MacroGenics has a 52-week low of $1.29 and a 52-week high of $5.08.

MacroGenics (NASDAQ:MGNX) last released its quarterly earnings data on Thursday, August 13th. The biopharmaceutical company reported $0.31 EPS for the quarter, topping the consensus estimate of ($0.08) by $0.39. The company had revenue of $32.83 million for the quarter, compared to the consensus estimate of $59.14 million. MacroGenics had a negative return on equity of 109.26% and a negative net margin of 8.70%. Analysts forecast that MacroGenics will post -1.14 earnings per share for the current year.

MacroGenics Company Profile

MacroGenics, Inc is a biopharmaceutical company focused on developing antibody-based therapeutics for cancer and other serious diseases. Headquartered in Rockville, Maryland, the company uses its proprietary DART® and TRIDENT® platforms to design multispecific molecules intended to direct immune-system activity toward diseased cells or modify immune responses.

MacroGenics’ development programs have included treatments for hematologic malignancies, solid tumors and autoimmune diseases. Its products include MARGENZA® (margetuximab-cmkb), an antibody for certain patients with HER2-positive metastatic breast cancer, and ZYNYZ® (retifanlimab-dlwr), an immune checkpoint inhibitor approved in the United States for adults with metastatic or recurrent locally advanced Merkel cell carcinoma.