MacroGenics (MGNX) Downgraded to “Sell” at Citigroup

Citigroup cut shares of MacroGenics (NASDAQ:MGNX) from a neutral rating to a sell rating in a report published on Monday, February 4th, MarketBeat Ratings reports. Citigroup currently has $10.00 price target on the biopharmaceutical company’s stock, down from their prior price target of $22.00.

MGNX has been the topic of several other research reports. Raymond James reiterated a sell rating on shares of MacroGenics in a research report on Monday, January 21st. ValuEngine lowered MacroGenics from a buy rating to a hold rating in a report on Tuesday, December 11th. BidaskClub lowered shares of MacroGenics from a sell rating to a strong sell rating in a research note on Friday, October 12th. HC Wainwright reiterated a buy rating and issued a $34.00 price objective on shares of MacroGenics in a research report on Tuesday, October 30th. Finally, Morgan Stanley set a $21.00 target price on shares of MacroGenics and gave the stock a hold rating in a research report on Monday, December 10th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. MacroGenics presently has a consensus rating of Buy and an average price target of $31.78.

MacroGenics stock traded up $0.47 during mid-day trading on Monday, hitting $20.47. 724,215 shares of the company’s stock traded hands, compared to its average volume of 2,653,349. The company has a market capitalization of $896.31 million, a price-to-earnings ratio of -4.89 and a beta of 2.65. MacroGenics has a fifty-two week low of $9.87 and a fifty-two week high of $32.74.

In other news, SVP Thomas Spitznagel sold 1,770 shares of the firm’s stock in a transaction that occurred on Wednesday, February 6th. The shares were sold at an average price of $30.00, for a total transaction of $53,100.00. Following the completion of the sale, the senior vice president now owns 1,770 shares in the company, valued at approximately $53,100. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Matthew K. Fust sold 6,924 shares of the firm’s stock in a transaction that occurred on Wednesday, February 6th. The stock was sold at an average price of $29.38, for a total transaction of $203,427.12. Following the sale, the director now owns 7,424 shares of the company’s stock, valued at approximately $218,117.12. The disclosure for this sale can be found here. Over the last three months, insiders sold 8,762 shares of company stock worth $258,567. 8.82% of the stock is owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Man Group plc increased its position in shares of MacroGenics by 441.3% in the third quarter. Man Group plc now owns 66,122 shares of the biopharmaceutical company’s stock worth $1,417,000 after acquiring an additional 53,906 shares in the last quarter. Fosun International Ltd lifted its position in MacroGenics by 49.5% in the 4th quarter. Fosun International Ltd now owns 66,462 shares of the biopharmaceutical company’s stock valued at $837,000 after purchasing an additional 22,000 shares during the last quarter. Vanguard Group Inc. lifted its position in MacroGenics by 7.9% in the 3rd quarter. Vanguard Group Inc. now owns 2,270,541 shares of the biopharmaceutical company’s stock valued at $48,680,000 after purchasing an additional 165,937 shares during the last quarter. BlackRock Inc. increased its stake in MacroGenics by 3.3% during the 3rd quarter. BlackRock Inc. now owns 3,225,256 shares of the biopharmaceutical company’s stock valued at $69,150,000 after buying an additional 103,189 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new position in MacroGenics during the 3rd quarter valued at about $250,000. 90.99% of the stock is currently owned by institutional investors and hedge funds.

About MacroGenics

MacroGenics, Inc, a biopharmaceutical company, discovers and develops antibody-based therapeutics for the treatment of cancer primarily by modulating the human immune system, and autoimmune disorders and infectious diseases in the United States. The company's advanced clinical product candidate is Margetuximab, a monoclonal antibody, which is in Phase III clinical trial that targets human epidermal growth factor receptor 2-expressing tumors, such as various breast and gastroesophageal cancers.

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Analyst Recommendations for MacroGenics (NASDAQ:MGNX)

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