MacroGenics, Inc. (MGNX) Downgraded by BidaskClub to Sell

MacroGenics, Inc. (NASDAQ:MGNX) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Monday, July 31st.

A number of other research analysts have also recently commented on the company. Morgan Stanley dropped their price target on MacroGenics from $24.00 to $22.00 and set an “equal weight” rating for the company in a research note on Monday, May 8th. Zacks Investment Research raised MacroGenics from a “sell” rating to a “hold” rating and set a $19.00 price objective for the company in a research report on Tuesday, July 18th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $32.30.

MacroGenics (NASDAQ MGNX) traded up 2.59% on Monday, hitting $16.24. 122,710 shares of the stock were exchanged. MacroGenics has a 52 week low of $14.36 and a 52 week high of $33.30. The company’s 50-day moving average is $17.42 and its 200-day moving average is $18.74. The company’s market cap is $597.60 million.

MacroGenics (NASDAQ:MGNX) last announced its quarterly earnings results on Wednesday, August 2nd. The biopharmaceutical company reported ($1.14) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.05) by $0.09. MacroGenics had a negative net margin of 1,216.51% and a negative return on equity of 56.81%. The firm had revenue of $1.70 million during the quarter, compared to the consensus estimate of $15.82 million. During the same quarter in the previous year, the company posted $1.12 earnings per share. The firm’s revenue was down 97.9% on a year-over-year basis. On average, analysts predict that MacroGenics will post ($4.36) earnings per share for the current year.

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In related news, SVP Jon Marc Wigginton sold 5,000 shares of MacroGenics stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $20.00, for a total value of $100,000.00. Following the sale, the senior vice president now owns 35,000 shares of the company’s stock, valued at approximately $700,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 8.30% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Airain ltd acquired a new stake in MacroGenics during the first quarter valued at about $470,000. Wells Fargo & Company MN increased its position in shares of MacroGenics by 100.8% in the first quarter. Wells Fargo & Company MN now owns 48,200 shares of the biopharmaceutical company’s stock valued at $896,000 after buying an additional 24,198 shares during the period. American International Group Inc. increased its position in shares of MacroGenics by 7.1% in the first quarter. American International Group Inc. now owns 19,632 shares of the biopharmaceutical company’s stock valued at $365,000 after buying an additional 1,300 shares during the period. Marshall Wace North America L.P. purchased a new position in shares of MacroGenics during the first quarter valued at approximately $4,514,000. Finally, BB Biotech AG increased its position in shares of MacroGenics by 17.7% in the first quarter. BB Biotech AG now owns 2,260,000 shares of the biopharmaceutical company’s stock valued at $42,036,000 after buying an additional 340,000 shares during the period. 82.34% of the stock is currently owned by hedge funds and other institutional investors.

MacroGenics Company Profile

MacroGenics, Inc is a clinical-stage biopharmaceutical company focused on discovering and developing monoclonal antibody-based therapeutics for the treatment of cancer, as well as various autoimmune disorders and infectious diseases. The Company develops therapeutic product candidates using its antibody-based technology platforms and also in collaboration with other biopharmaceutical companies.

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