MacroGenics (NASDAQ:MGNX) Lowered to “Market Perform” at Cowen

Cowen lowered shares of MacroGenics (NASDAQ:MGNXGet Rating) from an outperform rating to a market perform rating in a research note published on Tuesday, The Fly reports.

A number of other equities research analysts also recently weighed in on MGNX. StockNews.com initiated coverage on MacroGenics in a report on Wednesday, October 12th. They issued a hold rating for the company. SVB Leerink lowered their price target on MacroGenics from $15.00 to $12.00 and set an outperform rating for the company in a report on Tuesday, August 9th. HC Wainwright boosted their price target on MacroGenics from $11.00 to $12.00 and gave the company a buy rating in a report on Monday, November 7th. Citigroup boosted their price target on MacroGenics from $13.00 to $16.00 and gave the company a buy rating in a report on Monday, August 29th. Finally, Barclays lowered their price target on MacroGenics to $8.00 in a report on Monday, August 15th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $10.89.

MacroGenics Stock Performance

MGNX stock opened at $6.17 on Tuesday. MacroGenics has a 52-week low of $2.13 and a 52-week high of $19.73. The stock’s 50 day moving average is $4.64 and its two-hundred day moving average is $4.02.

Insider Activity at MacroGenics

In related news, major shareholder Target N. V. Biotech acquired 250,000 shares of MacroGenics stock in a transaction that occurred on Friday, October 21st. The stock was acquired at an average price of $4.63 per share, for a total transaction of $1,157,500.00. Following the transaction, the insider now directly owns 7,979,963 shares of the company’s stock, valued at approximately $36,947,228.69. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other MacroGenics news, major shareholder Target N. V. Biotech purchased 168,422 shares of MacroGenics stock in a transaction on Wednesday, October 19th. The stock was bought at an average price of $3.70 per share, for a total transaction of $623,161.40. Following the transaction, the insider now owns 7,443,986 shares of the company’s stock, valued at approximately $27,542,748.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Target N. V. Biotech purchased 250,000 shares of MacroGenics stock in a transaction on Friday, October 21st. The shares were acquired at an average price of $4.63 per share, with a total value of $1,157,500.00. Following the transaction, the insider now directly owns 7,979,963 shares in the company, valued at approximately $36,947,228.69. The disclosure for this purchase can be found here. Insiders purchased 668,422 shares of company stock worth $2,870,661 in the last 90 days. 7.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in MGNX. Millennium Management LLC boosted its position in MacroGenics by 68.0% during the 2nd quarter. Millennium Management LLC now owns 2,609,562 shares of the biopharmaceutical company’s stock worth $7,698,000 after acquiring an additional 1,055,927 shares during the period. Citadel Advisors LLC raised its stake in shares of MacroGenics by 910.9% in the 2nd quarter. Citadel Advisors LLC now owns 1,092,449 shares of the biopharmaceutical company’s stock worth $3,222,000 after buying an additional 984,387 shares in the last quarter. EcoR1 Capital LLC bought a new stake in shares of MacroGenics in the 3rd quarter worth $3,221,000. Renaissance Technologies LLC raised its stake in shares of MacroGenics by 144.3% in the 2nd quarter. Renaissance Technologies LLC now owns 1,430,923 shares of the biopharmaceutical company’s stock worth $4,221,000 after buying an additional 845,211 shares in the last quarter. Finally, Federated Hermes Inc. raised its stake in shares of MacroGenics by 281.3% in the 2nd quarter. Federated Hermes Inc. now owns 1,107,546 shares of the biopharmaceutical company’s stock worth $3,267,000 after buying an additional 817,088 shares in the last quarter.

MacroGenics Company Profile

(Get Rating)

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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Analyst Recommendations for MacroGenics (NASDAQ:MGNX)

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