Zacks Investment Research downgraded shares of MacroGenics (NASDAQ:MGNX) from a hold rating to a sell rating in a report published on Wednesday, Zacks.com reports.

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. “

MGNX has been the topic of a number of other research reports. Stifel Nicolaus decreased their price target on MacroGenics from $36.00 to $29.00 and set a buy rating on the stock in a research report on Wednesday, June 5th. Guggenheim cut Anadarko Petroleum from a buy rating to a hold rating and set a $69.00 price target on the stock. in a research report on Friday, April 12th. Cowen set a $27.00 price target on Puma Biotechnology and gave the stock a hold rating in a research report on Wednesday, June 5th. ValuEngine cut Intersect ENT from a buy rating to a hold rating in a research report on Monday, July 8th. Finally, Credit Suisse Group restated an underperform rating on shares of MARKS & SPENCER/S in a research report on Wednesday, April 17th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $31.62.

Shares of NASDAQ MGNX opened at $15.87 on Wednesday. The company has a current ratio of 6.47, a quick ratio of 6.47 and a debt-to-equity ratio of 0.08. MacroGenics has a 52 week low of $9.87 and a 52 week high of $32.32. The stock has a fifty day moving average of $16.58.

MacroGenics (NASDAQ:MGNX) last issued its quarterly earnings results on Wednesday, May 1st. The biopharmaceutical company reported ($0.99) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.95) by ($0.04). MacroGenics had a negative return on equity of 57.65% and a negative net margin of 256.47%. The company had revenue of $9.66 million during the quarter, compared to the consensus estimate of $11.46 million. As a group, equities analysts anticipate that MacroGenics will post -3.75 EPS for the current year.

In other MacroGenics news, SVP Eric Blasius Risser sold 4,000 shares of MacroGenics stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $18.54, for a total value of $74,160.00. Following the transaction, the senior vice president now owns 33,806 shares in the company, valued at $626,763.24. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 7.88% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. Legal & General Group Plc grew its position in MacroGenics by 20.4% in the fourth quarter. Legal & General Group Plc now owns 7,432 shares of the biopharmaceutical company’s stock valued at $94,000 after acquiring an additional 1,261 shares during the last quarter. Northern Trust Corp grew its holdings in shares of MacroGenics by 0.3% during the fourth quarter. Northern Trust Corp now owns 524,500 shares of the biopharmaceutical company’s stock worth $6,661,000 after purchasing an additional 1,644 shares during the last quarter. Stifel Financial Corp grew its holdings in shares of MacroGenics by 14.8% during the fourth quarter. Stifel Financial Corp now owns 18,034 shares of the biopharmaceutical company’s stock worth $229,000 after purchasing an additional 2,327 shares during the last quarter. Marshall Wace North America L.P. bought a new stake in shares of MacroGenics during the first quarter worth about $59,000. Finally, Great West Life Assurance Co. Can grew its holdings in shares of MacroGenics by 148.6% during the fourth quarter. Great West Life Assurance Co. Can now owns 6,215 shares of the biopharmaceutical company’s stock worth $76,000 after purchasing an additional 3,715 shares during the last quarter. Hedge funds and other institutional investors own 90.52% of the company’s stock.

About MacroGenics

MacroGenics, Inc, a biopharmaceutical company, discovers and develops antibody-based therapeutics for the treatment of cancer in the United States. Its pipeline of immuno-oncology product candidates includes Margetuximab, a monoclonal antibody, which is in Phase III clinical trial that targets HER2-expressing tumors, such as various breast and gastroesophageal cancers.

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