Research Analysts’ Recent Ratings Changes for MacroGenics (MGNX)

Several brokerages have updated their recommendations and price targets on shares of MacroGenics (NASDAQ: MGNX) in the last few weeks:

  • 11/22/2022 – MacroGenics was downgraded by analysts at Cowen Inc. from an “outperform” rating to a “market perform” rating.
  • 11/22/2022 – MacroGenics was downgraded by analysts at Cowen Inc from an “outperform” rating to a “market perform” rating.
  • 11/22/2022 – MacroGenics was upgraded by analysts at Guggenheim from a “neutral” rating to a “buy” rating.
  • 11/14/2022 – MacroGenics was upgraded by analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating. They now have a $16.00 price target on the stock, up previously from $5.70.
  • 11/7/2022 – MacroGenics had its price target raised by analysts at HC Wainwright from $11.00 to $12.00. They now have a “buy” rating on the stock.
  • 10/18/2022 – MacroGenics had its price target raised by analysts at HC Wainwright from $10.00 to $11.00. They now have a “buy” rating on the stock.
  • 10/12/2022 – MacroGenics is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.

MacroGenics Price Performance

NASDAQ:MGNX opened at $6.18 on Wednesday. The firm’s 50-day moving average price is $4.53 and its 200-day moving average price is $3.99. The company has a market capitalization of $379.92 million, a PE ratio of -1.99 and a beta of 2.06. MacroGenics, Inc. has a 1-year low of $2.13 and a 1-year high of $19.73.

Insider Transactions at MacroGenics

In other MacroGenics news, major shareholder Target N. V. Biotech bought 250,000 shares of MacroGenics stock in a transaction dated Monday, October 24th. The shares were purchased at an average cost of $4.36 per share, with a total value of $1,090,000.00. Following the transaction, the insider now directly owns 8,229,963 shares of the company’s stock, valued at $35,882,638.68. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other MacroGenics news, major shareholder Target N. V. Biotech bought 250,000 shares of MacroGenics stock in a transaction dated Monday, October 24th. The shares were purchased at an average cost of $4.36 per share, with a total value of $1,090,000.00. Following the transaction, the insider now directly owns 8,229,963 shares of the company’s stock, valued at $35,882,638.68. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Target N. V. Biotech bought 168,422 shares of MacroGenics stock in a transaction dated Wednesday, October 19th. The stock was acquired at an average cost of $3.70 per share, for a total transaction of $623,161.40. Following the completion of the transaction, the insider now directly 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 acquired 668,422 shares of company stock valued at $2,870,661 in the last three months. 7.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On MacroGenics

A number of hedge funds have recently bought and sold shares of MGNX. Denali Advisors LLC bought a new position in MacroGenics in the 3rd quarter worth about $25,000. Nisa Investment Advisors LLC lifted its stake in MacroGenics by 692.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 5,150 shares of the biopharmaceutical company’s stock valued at $26,000 after acquiring an additional 4,500 shares during the period. Chicago Partners Investment Group LLC bought a new position in MacroGenics during the 2nd quarter valued at about $32,000. Diversified Trust Co bought a new position in MacroGenics during the 2nd quarter valued at about $37,000. Finally, Mackenzie Financial Corp bought a new position in MacroGenics during the 2nd quarter valued at about $37,000.

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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