MacroGenics (NASDAQ:MGNX) was upgraded by ValuEngine from a “strong sell” rating to a “sell” rating in a research report issued to clients and investors on Friday.
Several other brokerages also recently issued reports on MGNX. Cowen reaffirmed a “buy” rating on shares of MacroGenics in a research report on Wednesday, October 25th. SunTrust Banks reaffirmed a “buy” rating and issued a $26.00 price objective on shares of MacroGenics in a research report on Friday, September 1st. Citigroup increased their target price on MacroGenics from $18.00 to $22.00 and gave the company a “neutral” rating in a research note on Friday, November 10th. Stifel Nicolaus restated a “buy” rating and set a $34.00 price objective on shares of MacroGenics in a research note on Tuesday, September 12th. Finally, Wedbush restated an “outperform” rating and set a $44.00 price objective on shares of MacroGenics in a research note on Monday, September 11th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company. MacroGenics currently has a consensus rating of “Buy” and a consensus price target of $30.10.
MacroGenics (NASDAQ MGNX) opened at $19.39 on Friday. MacroGenics has a one year low of $14.36 and a one year high of $28.48.
In related news, SVP Jon Marc Wigginton sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $20.00, for a total value of $100,000.00. Following the transaction, the senior vice president now directly owns 35,000 shares of the company’s stock, valued at approximately $700,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.30% of the stock is currently owned by company insiders.
Institutional investors have recently bought and sold shares of the business. Legal & General Group Plc raised its position in shares of MacroGenics by 4.3% during the second 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. The Manufacturers Life Insurance Company raised its position in shares of MacroGenics by 2.9% during the second quarter. The Manufacturers Life Insurance Company now owns 26,485 shares of the biopharmaceutical company’s stock worth $463,000 after acquiring an additional 743 shares during the last quarter. Cornerstone Capital Management Holdings LLC. increased its holdings in MacroGenics by 3.8% in the second quarter. Cornerstone Capital Management Holdings LLC. now owns 23,238 shares of the biopharmaceutical company’s stock valued at $406,000 after purchasing an additional 848 shares during the last quarter. Jennison Associates LLC increased its holdings in MacroGenics by 0.6% in the second quarter. Jennison Associates LLC now owns 189,970 shares of the biopharmaceutical company’s stock valued at $3,326,000 after purchasing an additional 1,062 shares during the last quarter. Finally, Citigroup Inc. increased its holdings in MacroGenics by 8.4% in the second quarter. Citigroup Inc. now owns 18,975 shares of the biopharmaceutical company’s stock valued at $332,000 after purchasing an additional 1,466 shares during the last quarter. 85.81% of the stock is currently owned by 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.
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