MacroGenics (MGNX) Reaches New 1-Year Low at $15.45

MacroGenics Inc (NASDAQ:MGNX) reached a new 52-week low on Thursday . The company traded as low as $15.45 and last traded at $16.49, with a volume of 3758 shares traded. The stock had previously closed at $15.67.

A number of equities research analysts recently weighed in on the company. HC Wainwright set a $34.00 price target on MacroGenics and gave the stock a “buy” rating in a report on Wednesday. Zacks Investment Research upgraded MacroGenics from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a report on Tuesday, November 13th. ValuEngine cut MacroGenics from a “buy” rating to a “hold” rating in a report on Friday, October 26th. Finally, BidaskClub upgraded MacroGenics from a “strong sell” rating to a “sell” rating in a report on Friday, October 19th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company. MacroGenics has a consensus rating of “Buy” and an average price target of $31.00.

The firm has a market cap of $701.50 million, a P/E ratio of -30.39 and a beta of 2.52.

MacroGenics (NASDAQ:MGNX) last announced its earnings results on Wednesday, November 7th. The biopharmaceutical company reported ($0.81) EPS for the quarter, beating analysts’ consensus estimates of ($1.29) by $0.48. The firm had revenue of $20.80 million for the quarter, compared to analysts’ expectations of $6.18 million. MacroGenics had a negative return on equity of 7.39% and a negative net margin of 10.72%. On average, equities research analysts forecast that MacroGenics Inc will post -4.22 earnings per share for the current year.

A number of large investors have recently made changes to their positions in MGNX. Sun Life Financial INC acquired a new stake in MacroGenics during the 2nd quarter valued at $168,000. Verition Fund Management LLC acquired a new stake in MacroGenics during the 3rd quarter valued at $202,000. Keybank National Association OH acquired a new stake in MacroGenics during the 3rd quarter valued at $203,000. Hussman Strategic Advisors Inc. acquired a new stake in MacroGenics during the 3rd quarter valued at $214,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of MacroGenics during the 3rd quarter worth $250,000. Hedge funds and other institutional investors own 86.97% of the company’s stock.

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About MacroGenics (NASDAQ:MGNX)

MacroGenics, Inc, a biopharmaceutical company, discovers and develops antibody-based therapeutics for the treatment of cancer primarily by modulating the human immune system, and autoimmune disorders and infectious diseases in the United States. The company's advanced clinical product candidate is Margetuximab, a monoclonal antibody, which is in Phase III clinical trial that targets human epidermal growth factor receptor 2-expressing tumors, such as various breast and gastroesophageal cancers.

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