MacroGenics (NASDAQ:MGNX) Rating Lowered to Sell at StockNews.com (2025)

Posted by Defense World Staff on Aug 10th, 2024

MacroGenics (NASDAQ:MGNX – Get Free Report) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Thursday.

A number of other equities analysts have also recently weighed in on the stock. TD Cowen cut shares of MacroGenics from a “buy” rating to a “hold” rating in a research report on Friday, May 10th. Stifel Nicolaus cut MacroGenics from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $29.00 to $7.00 in a report on Friday, May 10th. BMO Capital Markets reduced their target price on MacroGenics from $8.00 to $5.00 and set a “market perform” rating for the company in a report on Wednesday. B. Riley lowered MacroGenics from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $18.00 to $5.00 in a research note on Wednesday, July 31st. Finally, JMP Securities reduced their price objective on MacroGenics from $16.00 to $8.00 and set a “market outperform” rating for the company in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $8.00.

Check Out Our Latest Stock Report on MacroGenics

MacroGenics Stock Performance

NASDAQ MGNX traded up $0.07 during mid-day trading on Thursday, reaching $3.52. 597,466 shares of the stock were exchanged, compared to its average volume of 1,822,418. MacroGenics has a 1 year low of $3.14 and a 1 year high of $21.88. The business’s 50 day moving average is $4.48 and its 200-day moving average is $10.85. The company has a market capitalization of $220.47 million, a P/E ratio of -9.03 and a beta of 2.09.

MacroGenics (NASDAQ:MGNX – Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The biopharmaceutical company reported ($0.89) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.42). The business had revenue of $10.80 million during the quarter, compared to analyst estimates of $24.14 million. MacroGenics had a negative return on equity of 98.01% and a negative net margin of 53.60%. Equities analysts predict that MacroGenics will post -2.19 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MacroGenics

A number of hedge funds have recently modified their holdings of MGNX. Vanguard Group Inc. increased its holdings in MacroGenics by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 4,414,924 shares of the biopharmaceutical company’s stock valued at $20,574,000 after purchasing an additional 36,396 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in MacroGenics by 7.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 49,337 shares of the biopharmaceutical company’s stock worth $475,000 after acquiring an additional 3,319 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in MacroGenics by 64.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 40,834 shares of the biopharmaceutical company’s stock worth $393,000 after purchasing an additional 15,994 shares during the period. Natixis Advisors L.P. acquired a new stake in shares of MacroGenics during the fourth quarter worth about $297,000. Finally, AJOVista LLC purchased a new position in shares of MacroGenics in the fourth quarter valued at approximately $51,000. 96.89% of the stock is currently owned by hedge funds and other institutional investors.

About MacroGenics

(Get Free Report)

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.