JMP Securities Reiterates Market Outperform Rating for MacroGenics (NASDAQ:MGNX)

MacroGenics (NASDAQ:MGNX – Get Rating)‘s stock had its “market outperform” rating reiterated by analysts at JMP Securities in a report released on Thursday, Benzinga reports. They presently have a $8.00 price objective on the biopharmaceutical company’s stock. JMP Securities’ price objective points to a potential upside of 20.30% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on MGNX. Citigroup cut MacroGenics from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $16.00 to $7.00 in a research note on Wednesday, November 23rd. Guggenheim raised MacroGenics from a “neutral” rating to a “buy” rating and set a $12.00 target price on the stock in a report on Tuesday, November 22nd. Cowen lowered MacroGenics from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 22nd. Cowen lowered MacroGenics from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 22nd. Finally, StockNews.com started coverage on MacroGenics in a report on Thursday. They set a “hold” rating on the stock. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, MacroGenics has an average rating of “Hold” and an average price target of $10.30.

MacroGenics Stock Down 4.9 %

Shares of MacroGenics stock opened at $6.65 on Thursday. MacroGenics has a 12-month low of $2.13 and a 12-month high of $10.20. The stock has a market cap of $408.81 million, a P/E ratio of -3.30 and a beta of 1.97. The business’s 50 day moving average is $5.83 and its 200-day moving average is $5.32.

Insider Activity at MacroGenics

In other news, major shareholder Target N. V. Biotech purchased 200,000 shares of MacroGenics stock in a transaction that occurred on Tuesday, December 27th. The stock was acquired at an average cost of $5.61 per share, for a total transaction of $1,122,000.00. Following the purchase, the insider now directly owns 8,929,963 shares of the company’s stock, valued at approximately $50,097,092.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, major shareholder Target N. V. Biotech acquired 150,000 shares of the business’s stock in a transaction that occurred on Thursday, January 19th. The stock was acquired at an average price of $5.30 per share, with a total value of $795,000.00. Following the completion of the transaction, the insider now directly owns 9,079,963 shares of the company’s stock, valued at approximately $48,123,803.90. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Target N. V. Biotech acquired 200,000 shares of MacroGenics stock in a transaction on Tuesday, December 27th. The shares were purchased at an average price of $5.61 per share, for a total transaction of $1,122,000.00. Following the completion of the purchase, the insider now directly owns 8,929,963 shares of the company’s stock, valued at $50,097,092.43. The disclosure for this purchase can be found here. Insiders bought 1,050,000 shares of company stock worth $5,628,000 in the last ninety days. 7.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On MacroGenics

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Atom Investors LP acquired a new stake in shares of MacroGenics during the 3rd quarter worth approximately $159,000. Pura Vida Investments LLC acquired a new stake in shares of MacroGenics during the 3rd quarter worth approximately $182,000. Hsbc Holdings PLC boosted its position in shares of MacroGenics by 12.1% during the 3rd quarter. Hsbc Holdings PLC now owns 17,919 shares of the biopharmaceutical company’s stock worth $63,000 after acquiring an additional 1,934 shares in the last quarter. XML Financial LLC boosted its position in shares of MacroGenics by 9.9% during the 3rd quarter. XML Financial LLC now owns 24,675 shares of the biopharmaceutical company’s stock worth $85,000 after acquiring an additional 2,224 shares in the last quarter. Finally, EcoR1 Capital LLC acquired a new stake in shares of MacroGenics during the 3rd quarter worth approximately $3,221,000. 93.63% of the stock is currently owned by institutional investors and hedge funds.

MacroGenics Company Profile

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MacroGenics, Inc is a clinical-stage biopharmaceutical company engaged in discovering and developing antibody-based therapeutics designed to modulate the human immune response for the treatment of cancer. Its product pipeline includes Margetuximab, Flotetuzumab, Retifanlimab, Enoblituzumab, Tebotelimab, MGC018, MGD019, IMGC936, and MGD014 for infectious diseases.