MacroGenics Inc (NASDAQ:MGNX) has earned an average rating of “Buy” from the fifteen research firms that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, nine have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $33.09.
MGNX has been the subject of a number of research analyst reports. HC Wainwright reissued a “buy” rating and issued a $34.00 target price on shares of MacroGenics in a research note on Tuesday, October 30th. Zacks Investment Research upgraded MacroGenics from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a report on Tuesday, November 13th. Raymond James downgraded MacroGenics from an “outperform” rating to an “underperform” rating in a research report on Monday, December 10th. Morgan Stanley set a $21.00 target price on MacroGenics and gave the company a “hold” rating in a research report on Monday, December 10th. Finally, ValuEngine downgraded MacroGenics from a “buy” rating to a “hold” rating in a research report on Tuesday, December 11th.
Shares of MacroGenics stock opened at $21.21 on Tuesday. MacroGenics has a 12 month low of $9.87 and a 12 month high of $32.74.
In other news, Director Matthew K. Fust sold 6,924 shares of MacroGenics stock in a transaction that occurred on Wednesday, February 6th. The shares were sold at an average price of $29.38, for a total value of $203,427.12. Following the transaction, the director now owns 7,424 shares of the company’s stock, valued at approximately $218,117.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Thomas Spitznagel sold 1,770 shares of MacroGenics stock in a transaction that occurred on Wednesday, February 6th. The stock was sold at an average price of $30.00, for a total transaction of $53,100.00. Following the completion of the transaction, the senior vice president now directly owns 1,770 shares in the company, valued at approximately $53,100. The disclosure for this sale can be found here. Insiders have sold 8,762 shares of company stock valued at $258,567 over the last ninety days. 8.82% of the stock is currently owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in MGNX. BlackRock Inc. raised its position in MacroGenics by 5.5% during the fourth quarter. BlackRock Inc. now owns 3,401,391 shares of the biopharmaceutical company’s stock worth $43,198,000 after acquiring an additional 176,135 shares during the period. BB Biotech AG boosted its stake in MacroGenics by 9.8% during the fourth quarter. BB Biotech AG now owns 3,283,272 shares of the biopharmaceutical company’s stock worth $41,698,000 after buying an additional 292,860 shares during the period. Vanguard Group Inc. lifted its position in shares of MacroGenics by 7.9% during the third quarter. Vanguard Group Inc. now owns 2,270,541 shares of the biopharmaceutical company’s stock worth $48,680,000 after purchasing an additional 165,937 shares in the last quarter. Vanguard Group Inc lifted its position in shares of MacroGenics by 7.9% during the third quarter. Vanguard Group Inc now owns 2,270,541 shares of the biopharmaceutical company’s stock worth $48,680,000 after purchasing an additional 165,937 shares in the last quarter. Finally, EcoR1 Capital LLC lifted its position in shares of MacroGenics by 2.1% during the third quarter. EcoR1 Capital LLC now owns 1,481,086 shares of the biopharmaceutical company’s stock worth $31,754,000 after purchasing an additional 30,480 shares in the last quarter. 90.99% of the stock is currently owned by institutional investors and hedge funds.
MacroGenics, Inc, a biopharmaceutical company, discovers and develops antibody-based therapeutics for the treatment of cancer primarily by modulating the human immune system, and autoimmune disorders and infectious diseases in the United States. The company's advanced clinical product candidate is Margetuximab, a monoclonal antibody, which is in Phase III clinical trial that targets human epidermal growth factor receptor 2-expressing tumors, such as various breast and gastroesophageal cancers.
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