StockNews.com cut shares of MacroGenics (NASDAQ:MGNX - Free Report) from a buy rating to a hold rating in a report issued on Friday morning.
MacroGenics Price Performance
Shares of NASDAQ:MGNX traded down $0.17 during trading on Friday, reaching $1.79. 1,165,007 shares of the stock were exchanged, compared to its average volume of 1,157,001. MacroGenics has a 1-year low of $1.89 and a 1-year high of $19.54. The stock has a fifty day moving average of $2.61 and a two-hundred day moving average of $3.20. The firm has a market cap of $112.35 million, a price-to-earnings ratio of -1.13 and a beta of 2.12.
MacroGenics (NASDAQ:MGNX - Get Free Report) last issued its quarterly earnings data on Thursday, March 20th. The biopharmaceutical company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.02). The business had revenue of $49.40 million for the quarter, compared to analyst estimates of $34.17 million. MacroGenics had a negative net margin of 69.07% and a negative return on equity of 89.42%. Sell-side analysts forecast that MacroGenics will post -1.06 EPS for the current year.
Institutional Trading of MacroGenics
Institutional investors and hedge funds have recently modified their holdings of the stock. Lazard Asset Management LLC purchased a new position in shares of MacroGenics during the fourth quarter valued at approximately $32,000. XTX Topco Ltd purchased a new position in MacroGenics during the 3rd quarter worth $37,000. American Century Companies Inc. purchased a new position in MacroGenics during the 4th quarter worth $38,000. Sanders Morris Harris LLC bought a new stake in shares of MacroGenics in the 4th quarter worth $40,000. Finally, Jump Financial LLC purchased a new stake in shares of MacroGenics in the fourth quarter valued at about $44,000. 96.89% of the stock is owned by hedge funds and other institutional investors.
MacroGenics Company Profile
(
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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.
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