MacroGenics, Inc. (NASDAQ:MGNX) Receives Consensus Rating of “Moderate Buy” from Analysts

MacroGenics, Inc. (NASDAQ:MGNX – Get Rating) has been assigned a consensus recommendation of “Moderate Buy” from the twelve research firms that are covering the company, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $9.56.

Several research analysts have recently weighed in on the company. Cowen downgraded MacroGenics from an “outperform” rating to a “market perform” rating in a research note on Tuesday, November 22nd. HC Wainwright upped their target price on MacroGenics from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Monday, November 7th. JMP Securities reduced their target price on MacroGenics from $18.00 to $8.00 and set a “market outperform” rating for the company in a research note on Thursday, January 19th. Cowen downgraded MacroGenics from an “outperform” rating to a “market perform” rating in a research note on Tuesday, November 22nd. Finally, Guggenheim raised MacroGenics from a “neutral” rating to a “buy” rating and set a $12.00 target price for the company in a research note on Tuesday, November 22nd.

Insider Buying and Selling at MacroGenics

In other news, major shareholder Target N. V. Biotech bought 200,000 shares of the company’s stock in a transaction on Friday, December 23rd. The stock was bought at an average cost of $5.88 per share, with a total value of $1,176,000.00. Following the transaction, the insider now directly owns 8,729,963 shares in the company, valued at approximately $51,332,182.44. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, major shareholder Target N. V. Biotech acquired 200,000 shares of the stock in a transaction dated Friday, December 23rd. The stock was acquired at an average cost of $5.88 per share, with a total value of $1,176,000.00. Following the completion of the transaction, the insider now owns 8,729,963 shares in the company, valued at approximately $51,332,182.44. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Target N. V. Biotech acquired 500,000 shares of the stock in a transaction dated Tuesday, February 14th. The shares were bought at an average cost of $5.07 per share, with a total value of $2,535,000.00. Following the completion of the transaction, the insider now owns 9,579,963 shares of the company’s stock, valued at approximately $48,570,412.41. The disclosure for this purchase can be found here. Insiders bought a total of 1,050,000 shares of company stock valued at $5,628,000 in the last three months. 7.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On MacroGenics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MGNX. Millennium Management LLC lifted its stake in MacroGenics by 68.0% in the second quarter. Millennium Management LLC now owns 2,609,562 shares of the biopharmaceutical company’s stock valued at $7,698,000 after buying an additional 1,055,927 shares during the last quarter. Citadel Advisors LLC lifted its stake in MacroGenics by 910.9% in the second quarter. Citadel Advisors LLC now owns 1,092,449 shares of the biopharmaceutical company’s stock valued at $3,222,000 after buying an additional 984,387 shares during the last quarter. EcoR1 Capital LLC purchased a new stake in MacroGenics in the third quarter valued at approximately $3,221,000. Renaissance Technologies LLC lifted its stake in MacroGenics by 144.3% in the second quarter. Renaissance Technologies LLC now owns 1,430,923 shares of the biopharmaceutical company’s stock valued at $4,221,000 after buying an additional 845,211 shares during the last quarter. Finally, Federated Hermes Inc. lifted its stake in MacroGenics by 281.3% in the second quarter. Federated Hermes Inc. now owns 1,107,546 shares of the biopharmaceutical company’s stock valued at $3,267,000 after buying an additional 817,088 shares during the last quarter. 93.63% of the stock is owned by institutional investors and hedge funds.

MacroGenics Stock Performance

Shares of MGNX stock opened at $6.07 on Monday. MacroGenics has a fifty-two week low of $2.13 and a fifty-two week high of $10.20. The firm has a market capitalization of $373.12 million, a price-to-earnings ratio of -1.96 and a beta of 1.97. The stock’s 50-day simple moving average is $5.85 and its 200-day simple moving average is $5.21.

MacroGenics Company Profile

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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.