MacroGenics (MGNX) Rating Increased to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of MacroGenics (NASDAQ:MGNX) from a sell rating to a hold rating in a research report sent to investors on Tuesday.

According to Zacks, “MacroGenics Inc. is a biopharmaceutical company. It is focused on discovering and developing innovative monoclonal antibody-based therapeutics. The Company has a diverse portfolio of product candidates focused in three therapeutic areas: oncology, autoimmune disorders and infectious diseases. MacroGenics Inc. is headquartered in Rockville, Maryland. “

Other equities research analysts have also recently issued research reports about the stock. Cowen restated a buy rating on shares of MacroGenics in a report on Wednesday, January 24th. SunTrust Banks reiterated a buy rating and set a $31.00 price target on shares of MacroGenics in a research note on Tuesday, January 23rd. BTIG Research reiterated a buy rating and set a $28.00 price target on shares of MacroGenics in a research note on Tuesday, January 23rd. Raymond James Financial reiterated a buy rating on shares of MacroGenics in a research note on Monday, December 11th. Finally, BidaskClub upgraded shares of MacroGenics from a sell rating to a hold rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company. MacroGenics currently has an average rating of Buy and an average price target of $30.60.

Shares of MacroGenics (NASDAQ MGNX) opened at $23.30 on Tuesday. MacroGenics has a fifty-two week low of $14.36 and a fifty-two week high of $24.26. The stock has a market cap of $870.30, a P/E ratio of -5.19 and a beta of 2.79.

In other news, SVP Eric Blasius Risser sold 3,000 shares of MacroGenics stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $22.50, for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Jon Marc Wigginton sold 5,000 shares of MacroGenics stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $20.00, for a total transaction of $100,000.00. Following the transaction, the senior vice president now owns 35,000 shares in the company, valued at approximately $700,000. The disclosure for this sale can be found here. Insiders have sold a total of 13,000 shares of company stock worth $267,500 in the last quarter. Corporate insiders own 8.30% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Legal & General Group Plc raised its position in shares of MacroGenics by 4.3% during the 2nd quarter. Legal & General Group Plc now owns 7,925 shares of the biopharmaceutical company’s stock valued at $138,000 after purchasing an additional 328 shares during the period. Parametric Portfolio Associates LLC bought a new stake in shares of MacroGenics during the 2nd quarter valued at $203,000. Teacher Retirement System of Texas bought a new stake in shares of MacroGenics during the 4th quarter valued at $225,000. Virtu KCG Holdings LLC bought a new stake in shares of MacroGenics during the 2nd quarter valued at $232,000. Finally, MetLife Investment Advisors LLC bought a new stake in shares of MacroGenics during the 4th quarter valued at $281,000. Hedge funds and other institutional investors own 83.18% of the company’s stock.

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MacroGenics Company Profile

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.

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