Analysts Set MacroGenics, Inc. (NASDAQ:MGNX) PT at $7.63

MacroGenics, Inc. (NASDAQ:MGNX - Get Free Report) has received an average rating of "Hold" from the eleven brokerages that are presently covering the firm, MarketBeat reports. Eight equities research analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $7.63.

Several brokerages recently issued reports on MGNX. StockNews.com upgraded shares of MacroGenics from a "sell" rating to a "buy" rating in a research report on Sunday, November 10th. Evercore ISI upgraded MacroGenics to a "strong-buy" rating in a report on Monday, September 16th. JMP Securities cut MacroGenics from an "outperform" rating to a "market perform" rating in a research note on Thursday, November 7th. Finally, HC Wainwright reaffirmed a "neutral" rating and issued a $4.00 price target on shares of MacroGenics in a research note on Wednesday, November 6th.

MacroGenics Stock Down 5.9 %

Shares of MacroGenics stock traded down $0.20 during trading on Friday, reaching $3.20. 420,281 shares of the stock were exchanged, compared to its average volume of 1,387,896. The firm has a market cap of $200.84 million, a price-to-earnings ratio of -2.03 and a beta of 2.04. MacroGenics has a 1 year low of $2.95 and a 1 year high of $21.88. The stock's fifty day moving average is $3.69 and its 200 day moving average is $3.89.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in MGNX. Barclays PLC raised its stake in shares of MacroGenics by 97.1% in the third quarter. Barclays PLC now owns 98,753 shares of the biopharmaceutical company's stock worth $325,000 after buying an additional 48,639 shares during the period. XTX Topco Ltd bought a new stake in MacroGenics during the 3rd quarter worth approximately $37,000. Wellington Management Group LLP raised its stake in MacroGenics by 15.7% during the 3rd quarter. Wellington Management Group LLP now owns 307,140 shares of the biopharmaceutical company's stock worth $1,010,000 after acquiring an additional 41,733 shares during the period. Stifel Financial Corp lifted its holdings in MacroGenics by 19.7% during the third quarter. Stifel Financial Corp now owns 39,888 shares of the biopharmaceutical company's stock valued at $131,000 after purchasing an additional 6,578 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its position in shares of MacroGenics by 35.2% in the third quarter. Jacobs Levy Equity Management Inc. now owns 566,328 shares of the biopharmaceutical company's stock worth $1,863,000 after purchasing an additional 147,438 shares during the period. 96.89% of the stock is currently owned by institutional investors.

About MacroGenics

MacroGenics, Inc, a biopharmaceutical company, develops, manufactures, and commercializes antibody-based therapeutics to treat cancer in the United States. Its approved product is MARGENZA (margetuximab-cmkb), a human epidermal growth factor receptor 2 (HER2) receptor antagonist indicated, in combination with chemotherapy, for the treatment of adult patients with metastatic HER2-positive breast cancer who have received two or more prior anti-HER2 regimens.