MacroGenics (MGNX) Rating Increased to Hold at Zacks Investment Research

MacroGenics (NASDAQ:MGNX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.

According to Zacks, “MacroGenics Inc. is a biopharmaceutical company. It is focused on discovering and developing innovative monoclonal antibody-based therapeutics. The Company has a diverse portfolio of product candidates focused in three therapeutic areas: oncology, autoimmune disorders and infectious diseases. MacroGenics Inc. is headquartered in Rockville, Maryland. “

Several other research firms also recently commented on MGNX. BidaskClub raised MacroGenics from a “strong sell” rating to a “sell” rating in a research note on Thursday, January 25th. Cowen reaffirmed a “buy” rating on shares of MacroGenics in a research note on Wednesday, January 24th. SunTrust Banks reaffirmed a “buy” rating and issued a $31.00 target price on shares of MacroGenics in a research note on Tuesday, January 23rd. BTIG Research reaffirmed a “buy” rating and issued a $28.00 target price on shares of MacroGenics in a research note on Tuesday, January 23rd. Finally, ValuEngine raised MacroGenics from a “strong sell” rating to a “sell” rating in a research note on Friday, December 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $30.60.

MacroGenics (NASDAQ:MGNX) opened at $23.85 on Tuesday. MacroGenics has a 52 week low of $14.36 and a 52 week high of $23.93.

In related news, SVP Eric Blasius Risser sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $22.50, for a total transaction of $67,500.00. Following the completion of the sale, the senior vice president now directly owns 12,100 shares of the company’s stock, valued at approximately $272,250. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jon Marc Wigginton sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $20.00, for a total value of $100,000.00. Following the sale, the senior vice president now directly owns 35,000 shares of the company’s stock, valued at $700,000. The disclosure for this sale can be found here. Insiders sold a total of 13,000 shares of company stock valued at $267,500 over the last ninety days. Corporate insiders own 8.30% of the company’s stock.

Large investors have recently modified their holdings of the stock. Legal & General Group Plc increased its position in shares of MacroGenics by 4.3% during the 2nd quarter. Legal & General Group Plc now owns 7,925 shares of the biopharmaceutical company’s stock worth $138,000 after purchasing an additional 328 shares during the last quarter. Parametric Portfolio Associates LLC acquired a new stake in shares of MacroGenics during the 2nd quarter worth about $203,000. Teacher Retirement System of Texas acquired a new stake in shares of MacroGenics during the 4th quarter worth about $225,000. Virtu KCG Holdings LLC acquired a new stake in shares of MacroGenics during the 2nd quarter worth about $232,000. Finally, Citigroup Inc. increased its position in shares of MacroGenics by 8.4% during the 2nd quarter. Citigroup Inc. now owns 18,975 shares of the biopharmaceutical company’s stock worth $332,000 after purchasing an additional 1,466 shares during the last quarter. 83.18% of the stock is owned by hedge funds and other institutional investors.

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MacroGenics Company Profile

MacroGenics, Inc is a clinical-stage biopharmaceutical company focused on discovering and developing monoclonal antibody-based therapeutics for the treatment of cancer, as well as various autoimmune disorders and infectious diseases. The Company develops therapeutic product candidates using its antibody-based technology platforms and also in collaboration with other biopharmaceutical companies.

Analyst Recommendations for MacroGenics (NASDAQ:MGNX)

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