Zacks Investment Research Upgrades MacroGenics (MGNX) to Hold

Zacks Investment Research upgraded shares of MacroGenics (NASDAQ:MGNX) from a sell rating to a hold rating in a report released on Tuesday, February 13th.

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 have also recently weighed in on MGNX. BidaskClub raised MacroGenics from a strong sell rating to a sell rating in a research report on Thursday, January 25th. Cowen reissued a buy rating on shares of MacroGenics in a research report on Wednesday, January 24th. SunTrust Banks reissued a buy rating and issued a $31.00 price objective on shares of MacroGenics in a research report on Tuesday, January 23rd. BTIG Research reaffirmed a buy rating and issued a $28.00 target price on shares of MacroGenics in a research report on Tuesday, January 23rd. Finally, ValuEngine raised MacroGenics from a strong sell rating to a sell rating in a research report on Friday, December 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $30.60.

MacroGenics (NASDAQ MGNX) traded down $0.21 on Tuesday, hitting $22.99. The stock had a trading volume of 192,700 shares, compared to its average volume of 221,953. MacroGenics has a 12 month low of $14.36 and a 12 month high of $24.26.

In other news, SVP Eric Blasius Risser sold 3,000 shares of the firm’s stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $22.50, for a total value of $67,500.00. Following the completion of the sale, the senior vice president now directly owns 12,100 shares in the company, valued at $272,250. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Jon Marc Wigginton sold 5,000 shares of MacroGenics stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $20.00, for a total value of $100,000.00. The disclosure for this sale can be found here. 8.30% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Legal & General Group Plc increased its holdings 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 acquiring an additional 328 shares during the last quarter. Parametric Portfolio Associates LLC bought a new stake in shares of MacroGenics during the 2nd quarter valued at $203,000. Teacher Retirement System of Texas bought a new stake in shares of MacroGenics during the 4th quarter valued at $225,000. Virtu KCG Holdings LLC bought a new stake in shares of MacroGenics during the 2nd quarter valued at $232,000. Finally, MetLife Investment Advisors LLC bought a new stake in shares of MacroGenics during the 4th quarter valued at $281,000. Hedge funds and other institutional investors own 85.30% of the company’s stock.

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About MacroGenics

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.

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