MacroGenics (NASDAQ:MGNX) Upgraded at Guggenheim

Guggenheim upgraded shares of MacroGenics (NASDAQ:MGNXGet Rating) from a neutral rating to a buy rating in a research report released on Tuesday morning, The Fly reports.

Other equities analysts also recently issued reports about the company. StockNews.com initiated coverage on MacroGenics in a report on Wednesday, October 12th. They issued a hold rating on the stock. Cowen cut shares of MacroGenics from an outperform rating to a market perform rating in a research report on Tuesday. HC Wainwright boosted their price objective on shares of MacroGenics from $11.00 to $12.00 and gave the stock a buy rating in a research note on Monday, November 7th. Cowen downgraded shares of MacroGenics from an outperform rating to a market perform rating in a research note on Tuesday. Finally, BMO Capital Markets upgraded shares of MacroGenics from a market perform rating to an outperform rating and lifted their target price for the company from $5.70 to $16.00 in a report on Monday, November 14th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, MacroGenics has a consensus rating of Moderate Buy and an average target price of $11.88.

MacroGenics Trading Down 3.0 %

Shares of MGNX opened at $6.18 on Tuesday. MacroGenics has a twelve month low of $2.13 and a twelve month high of $19.73. The firm has a market capitalization of $379.92 million, a P/E ratio of -1.99 and a beta of 2.06. The stock’s fifty day simple moving average is $4.53 and its 200 day simple moving average is $3.99.

Insider Buying and Selling

In other news, major shareholder Target N. V. Biotech acquired 250,000 shares of the firm’s stock in a transaction on Friday, October 21st. The stock was bought at an average cost of $4.63 per share, with a total value of $1,157,500.00. Following the transaction, the insider now directly owns 7,979,963 shares in the company, valued at approximately $36,947,228.69. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other MacroGenics news, major shareholder Target N. V. Biotech purchased 250,000 shares of MacroGenics stock in a transaction that occurred on Friday, October 21st. The stock was purchased at an average price of $4.63 per share, with a total value of $1,157,500.00. Following the completion of the acquisition, the insider now owns 7,979,963 shares of the company’s stock, valued at approximately $36,947,228.69. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Target N. V. Biotech acquired 168,422 shares of the stock in a transaction on Wednesday, October 19th. The shares were acquired at an average price of $3.70 per share, with a total value of $623,161.40. Following the purchase, the insider now owns 7,443,986 shares in the company, valued at $27,542,748.20. The disclosure for this purchase can be found here. Insiders have bought 668,422 shares of company stock valued at $2,870,661 in the last quarter. Company insiders own 7.90% of the company’s stock.

Institutional Trading of MacroGenics

Institutional investors have recently added to or reduced their stakes in the stock. Millennium Management LLC grew its holdings in MacroGenics by 68.0% during the 2nd quarter. Millennium Management LLC now owns 2,609,562 shares of the biopharmaceutical company’s stock worth $7,698,000 after acquiring an additional 1,055,927 shares in the last quarter. Citadel Advisors LLC lifted its position in shares of MacroGenics by 910.9% during the second quarter. Citadel Advisors LLC now owns 1,092,449 shares of the biopharmaceutical company’s stock worth $3,222,000 after purchasing an additional 984,387 shares during the last quarter. EcoR1 Capital LLC acquired a new position in MacroGenics in the third quarter worth about $3,221,000. Renaissance Technologies LLC increased its holdings in MacroGenics by 144.3% in the second quarter. Renaissance Technologies LLC now owns 1,430,923 shares of the biopharmaceutical company’s stock valued at $4,221,000 after buying an additional 845,211 shares during the last quarter. Finally, Federated Hermes Inc. raised its stake in MacroGenics by 281.3% during the second quarter. Federated Hermes Inc. now owns 1,107,546 shares of the biopharmaceutical company’s stock valued at $3,267,000 after buying an additional 817,088 shares in the last quarter.

MacroGenics Company Profile

(Get Rating)

MacroGenics, Inc, a biopharmaceutical company, develops 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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