BidaskClub Upgrades MacroGenics (MGNX) to “Hold”

MacroGenics (NASDAQ:MGNX) was upgraded by BidaskClub from a “sell” rating to a “hold” rating in a report issued on Tuesday.

MGNX has been the subject of a number of other reports. Cowen reaffirmed a “buy” rating on shares of MacroGenics in a research report on Wednesday, October 25th. ValuEngine cut MacroGenics from a “sell” rating to a “strong sell” rating in a research report on Tuesday, November 14th. Citigroup raised their price objective on MacroGenics from $18.00 to $22.00 and gave the company a “neutral” rating in a research report on Friday, November 10th. Zacks Investment Research cut MacroGenics from a “hold” rating to a “sell” rating in a research report on Tuesday, February 6th. Finally, Raymond James Financial reaffirmed a “buy” rating on shares of MacroGenics in a research report on Monday, December 11th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $30.60.

Shares of MacroGenics (NASDAQ:MGNX) opened at $23.85 on Tuesday. MacroGenics has a 52-week low of $14.36 and a 52-week high of $23.93. The stock has a market capitalization of $878.22, a P/E ratio of -5.31 and a beta of 2.79.

In other news, SVP Jon Marc Wigginton sold 5,000 shares of the stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $20.00, for a total transaction of $100,000.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Eric Blasius Risser sold 3,000 shares of the stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $22.50, for a total value of $67,500.00. Following the transaction, the senior vice president now owns 12,100 shares in the company, valued at approximately $272,250. The disclosure for this sale can be found here. In the last quarter, insiders have sold 13,000 shares of company stock worth $267,500. 8.30% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in MGNX. Legal & General Group Plc increased its stake in shares of MacroGenics by 4.3% during the second quarter. Legal & General Group Plc now owns 7,925 shares of the biopharmaceutical company’s stock worth $138,000 after purchasing an additional 328 shares during the period. Parametric Portfolio Associates LLC bought a new position in shares of MacroGenics during the second quarter worth approximately $203,000. Teacher Retirement System of Texas bought a new position in shares of MacroGenics during the fourth quarter worth approximately $225,000. Virtu KCG Holdings LLC bought a new position in MacroGenics during the 2nd quarter worth $232,000. Finally, Citigroup Inc. increased its stake in MacroGenics by 8.4% during the 2nd quarter. Citigroup Inc. now owns 18,975 shares of the biopharmaceutical company’s stock worth $332,000 after acquiring an additional 1,466 shares during the period. Institutional investors own 83.18% of the company’s stock.

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About MacroGenics

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.

Analyst Recommendations for MacroGenics (NASDAQ:MGNX)

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