MacroGenics (NASDAQ:MGNX) Rating Lowered to “Market Perform” at JMP Securities

JMP Securities lowered shares of MacroGenics (NASDAQ:MGNX) from an outperform rating to a market perform rating in a research report released on Thursday, MarketBeat.com reports.

MGNX has been the topic of a number of other reports. BTIG Research cut MacroGenics from a “buy” rating to a “neutral” rating in a research report on Thursday, August 1st. Barclays reduced their price target on shares of MacroGenics from $14.00 to $9.00 and set an “overweight” rating on the stock in a research report on Monday, July 29th. B. Riley lowered shares of MacroGenics from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $18.00 to $5.00 in a report on Wednesday, July 31st. Evercore ISI upgraded shares of MacroGenics to a “strong-buy” rating in a research note on Monday, September 16th. Finally, Guggenheim lowered MacroGenics from a “buy” rating to a “neutral” rating in a research report on Wednesday, July 31st. Eight investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, MacroGenics currently has an average rating of “Hold” and a consensus target price of $7.63.

MacroGenics Stock Down 2.5 %

MGNX stock opened at $4.35 on Thursday. The business’s 50-day simple moving average is $3.61 and its 200 day simple moving average is $4.96. The company has a market cap of $273.01 million, a PE ratio of -2.75 and a beta of 2.08. MacroGenics has a twelve month low of $2.95 and a twelve month high of $21.88.

Institutional Investors Weigh In On MacroGenics

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Intech Investment Management LLC bought a new position in MacroGenics in the third quarter valued at about $68,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in MacroGenics by 39.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 661,914 shares of the biopharmaceutical company’s stock valued at $2,178,000 after purchasing an additional 186,858 shares during the period. GSA Capital Partners LLP boosted its stake in shares of MacroGenics by 117.2% in the 3rd quarter. GSA Capital Partners LLP now owns 207,877 shares of the biopharmaceutical company’s stock valued at $684,000 after purchasing an additional 112,188 shares during the last quarter. XML Financial LLC grew its position in shares of MacroGenics by 66.0% during the 3rd quarter. XML Financial LLC now owns 17,600 shares of the biopharmaceutical company’s stock worth $58,000 after buying an additional 7,000 shares during the period. Finally, Pinnacle Associates Ltd. raised its stake in shares of MacroGenics by 7.9% during the third quarter. Pinnacle Associates Ltd. now owns 687,980 shares of the biopharmaceutical company’s stock worth $2,263,000 after buying an additional 50,661 shares during the last quarter. 96.89% of the stock is owned by institutional investors and hedge funds.

About MacroGenics

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.