MacroGenics (MGNX) Shares Down 6.7%

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MacroGenics Inc (NASDAQ:MGNX) shares traded down 6.7% during trading on Monday . The stock traded as low as $16.20 and last traded at $16.25. 429,256 shares traded hands during trading, a decline of 64% from the average session volume of 1,207,128 shares. The stock had previously closed at $17.42.

Several research analysts recently commented on the company. ValuEngine cut MacroGenics from a “buy” rating to a “hold” rating in a research report on Monday. Credit Suisse Group assumed coverage on MacroGenics in a research report on Wednesday, April 17th. They set an “outperform” rating and a $29.00 price target for the company. Cowen reissued a “buy” rating on shares of MacroGenics in a research report on Thursday, May 2nd. BidaskClub raised MacroGenics from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 4th. Finally, Wedbush reissued a “positive” rating and set a $20.00 price target (down from $44.00) on shares of MacroGenics in a research report on Tuesday, January 22nd. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the stock. MacroGenics has a consensus rating of “Buy” and an average target price of $32.07.

The company has a quick ratio of 6.47, a current ratio of 6.47 and a debt-to-equity ratio of 0.08. The company has a market cap of $850.68 million, a PE ratio of -3.88 and a beta of 2.90.

MacroGenics (NASDAQ:MGNX) last released its quarterly earnings data on Wednesday, May 1st. The biopharmaceutical company reported ($0.99) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.95) by ($0.04). The business had revenue of $9.66 million during the quarter, compared to the consensus estimate of $11.46 million. MacroGenics had a negative net margin of 256.47% and a negative return on equity of 57.65%. As a group, equities analysts forecast that MacroGenics Inc will post -3.76 earnings per share for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in MGNX. Dimensional Fund Advisors LP boosted its position in shares of MacroGenics by 101.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 582,511 shares of the biopharmaceutical company’s stock worth $12,489,000 after purchasing an additional 293,527 shares in the last quarter. Man Group plc boosted its position in shares of MacroGenics by 441.3% during the 3rd quarter. Man Group plc now owns 66,122 shares of the biopharmaceutical company’s stock worth $1,417,000 after purchasing an additional 53,906 shares in the last quarter. MetLife Investment Advisors LLC boosted its position in shares of MacroGenics by 55.2% during the 3rd quarter. MetLife Investment Advisors LLC now owns 28,953 shares of the biopharmaceutical company’s stock worth $621,000 after purchasing an additional 10,292 shares in the last quarter. Teachers Advisors LLC boosted its position in shares of MacroGenics by 14.5% during the 3rd quarter. Teachers Advisors LLC now owns 78,989 shares of the biopharmaceutical company’s stock worth $1,694,000 after purchasing an additional 9,991 shares in the last quarter. Finally, Morgan Stanley boosted its position in shares of MacroGenics by 6.3% during the 3rd quarter. Morgan Stanley now owns 114,926 shares of the biopharmaceutical company’s stock worth $2,464,000 after purchasing an additional 6,842 shares in the last quarter. Hedge funds and other institutional investors own 76.19% of the company’s stock.

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About MacroGenics (NASDAQ:MGNX)

MacroGenics, Inc, a biopharmaceutical company, discovers and develops antibody-based therapeutics for the treatment of cancer in the United States. Its pipeline of immuno-oncology product candidates includes Margetuximab, a monoclonal antibody, which is in Phase III clinical trial that targets HER2-expressing tumors, such as various breast and gastroesophageal cancers.

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