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
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
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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