Guggenheim Reiterates Neutral Rating for MacroGenics (NASDAQ:MGNX)

MacroGenics (NASDAQ:MGNXGet Rating)‘s stock had its “neutral” rating reaffirmed by stock analysts at Guggenheim in a research report issued to clients and investors on Friday, MarketBeat reports.

Several other equities analysts have also weighed in on the stock. Cowen lowered shares of MacroGenics from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 22nd. Citigroup lowered shares of MacroGenics from a “buy” rating to a “neutral” rating and cut their target price for the company from $16.00 to $7.00 in a report on Wednesday, November 23rd. StockNews.com initiated coverage on shares of MacroGenics in a research note on Thursday. They issued a “hold” rating on the stock. Cowen cut shares of MacroGenics from an “outperform” rating to a “market perform” rating in a research note on Tuesday, November 22nd. Finally, Stifel Nicolaus lifted their price target on shares of MacroGenics from $15.00 to $17.00 in a research note on Thursday, March 9th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $10.30.

MacroGenics Price Performance

NASDAQ:MGNX opened at $6.65 on Friday. The firm has a market cap of $408.78 million, a price-to-earnings ratio of -3.43 and a beta of 1.97. The company has a 50 day moving average price of $5.85 and a 200-day moving average price of $5.34. MacroGenics has a 1-year low of $2.13 and a 1-year high of $10.20.

Insiders Place Their Bets

In other MacroGenics news, major shareholder Target N. V. Biotech bought 200,000 shares of the stock in a transaction on Friday, December 23rd. The shares were bought at an average price of $5.88 per share, with a total value of $1,176,000.00. Following the purchase, the insider now directly owns 8,729,963 shares in the company, valued at approximately $51,332,182.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other MacroGenics news, major shareholder Target N. V. Biotech bought 200,000 shares of the stock in a transaction on Friday, December 23rd. The shares were bought at an average price of $5.88 per share, with a total value of $1,176,000.00. Following the purchase, the insider now directly owns 8,729,963 shares in the company, valued at approximately $51,332,182.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Target N. V. Biotech bought 150,000 shares of the stock in a transaction on Thursday, January 19th. The shares were acquired at an average cost of $5.30 per share, for a total transaction of $795,000.00. Following the purchase, the insider now owns 9,079,963 shares in the company, valued at $48,123,803.90. The disclosure for this purchase can be found here. Insiders have acquired a total of 1,050,000 shares of company stock valued at $5,628,000 in the last 90 days. 7.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Alliancebernstein L.P. raised its holdings in shares of MacroGenics by 13.4% during the 4th quarter. Alliancebernstein L.P. now owns 107,600 shares of the biopharmaceutical company’s stock worth $722,000 after acquiring an additional 12,700 shares during the period. Point72 Middle East FZE purchased a new position in shares of MacroGenics during the 4th quarter worth $28,000. Public Employees Retirement System of Ohio purchased a new position in shares of MacroGenics during the 4th quarter worth $81,000. Jane Street Group LLC purchased a new position in shares of MacroGenics during the 4th quarter worth $208,000. Finally, Lazard Asset Management LLC purchased a new position in shares of MacroGenics during the 4th quarter worth $80,000. Hedge funds and other institutional investors own 93.63% of the company’s stock.

About MacroGenics

(Get Rating)

MacroGenics, Inc is a clinical-stage biopharmaceutical company engaged in discovering and developing antibody-based therapeutics designed to modulate the human immune response for the treatment of cancer. Its product pipeline includes Margetuximab, Flotetuzumab, Retifanlimab, Enoblituzumab, Tebotelimab, MGC018, MGD019, IMGC936, and MGD014 for infectious diseases.

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Analyst Recommendations for MacroGenics (NASDAQ:MGNX)

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