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

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

A number of other brokerages also recently commented on MGNX. 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. Morgan Stanley lowered their price target on MacroGenics from $24.00 to $22.00 and set an “equal weight” rating for the company in a report on Monday, May 8th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the stock. MacroGenics has a consensus rating of “Hold” and an average price target of $32.30.

MacroGenics (MGNX) traded down 1.96% on Monday, hitting $15.52. 283,898 shares of the stock were exchanged. The firm’s market cap is $571.10 million. MacroGenics has a 52-week low of $14.36 and a 52-week high of $32.68. The stock’s 50 day moving average price is $17.10 and its 200 day moving average price is $18.64.

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

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In other MacroGenics news, SVP Jon Marc Wigginton sold 5,000 shares of the company’s stock in a transaction on Monday, June 5th. The stock was 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 $700,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 8.30% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Russell Investments Group Ltd. acquired a new stake in shares of MacroGenics during the second quarter worth about $133,000. Legal & General Group Plc increased its position in MacroGenics by 4.3% in the second quarter. Legal & General Group Plc now owns 7,925 shares of the biopharmaceutical company’s stock worth $138,000 after buying an additional 328 shares during the period. SG Americas Securities LLC increased its position in MacroGenics by 92.2% in the second quarter. SG Americas Securities LLC now owns 10,812 shares of the biopharmaceutical company’s stock worth $189,000 after buying an additional 5,187 shares during the period. Parametric Portfolio Associates LLC purchased a new position in MacroGenics during the second quarter worth approximately $203,000. Finally, Virtu KCG Holdings LLC purchased a new position in MacroGenics during the second quarter worth approximately $232,000. 77.98% of the stock is currently owned by institutional investors and hedge funds.

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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