Fintel reports that on May 10, 2024, BMO Capital downgraded their outlook for MacroGenics (NasdaqGS:MGNX) from Outperform to Market Perform.

Analyst Price Forecast Suggests 664.23% Upside

As of May 8, 2024, the average one-year price target for MacroGenics is 25.30. The forecasts range from a low of 16.16 to a high of $31.50. The average price target represents an increase of 664.23% from its latest reported closing price of 3.31.

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The projected annual revenue for MacroGenics is 98MM, an increase of 125.50%. The projected annual non-GAAP EPS is -2.02.

What is the Fund Sentiment?

There are 365 funds or institutions reporting positions in MacroGenics. This is an increase of 30 owner(s) or 8.96% in the last quarter. Average portfolio weight of all funds dedicated to MGNX is 0.09%, an increase of 70.76%. Total shares owned by institutions increased in the last three months by 4.33% to 65,185K shares. The put/call ratio of MGNX is 1.28, indicating a bearish outlook.

What are Other Shareholders Doing?

Bellevue Group holds 9,953K shares representing 15.91% ownership of the company. In its prior filing, the firm reported owning 9,803K shares , representing an increase of 1.51%. The firm increased its portfolio allocation in MGNX by 81.42% over the last quarter.

T. Rowe Price Investment Management holds 5,640K shares representing 9.02% ownership of the company. In its prior filing, the firm reported owning 5,492K shares , representing an increase of 2.62%. The firm increased its portfolio allocation in MGNX by 95.00% over the last quarter.

Armistice Capital holds 4,572K shares representing 7.31% ownership of the company. In its prior filing, the firm reported owning 4,712K shares , representing a decrease of 3.06%. The firm increased its portfolio allocation in MGNX by 78.53% over the last quarter.

Ra Capital Management holds 4,053K shares representing 6.48% ownership of the company. In its prior filing, the firm reported owning 342K shares , representing an increase of 91.56%. The firm increased its portfolio allocation in MGNX by 1,826.69% over the last quarter.

Frazier Life Sciences Management holds 2,402K shares representing 3.84% ownership of the company. In its prior filing, the firm reported owning 1,803K shares , representing an increase of 24.92%. The firm increased its portfolio allocation in MGNX by 121.34% over the last quarter.

Macrogenics Background Information
(This description is provided by the company.)

MacroGenics is a biopharmaceutical company focused on developing and commercializing innovative monoclonal antibody-based therapeutics for the treatment of cancer. The Company generates its pipeline of product candidates primarily from its proprietary suite of next-generation antibody-based technology platforms, which have applicability across broad therapeutic domains. The combination of MacroGenics' technology platforms and protein engineering expertise has allowed the Company to generate promising product candidates and enter into several strategic collaborations with global pharmaceutical and biotechnology companies. MacroGenics and the MacroGenics logo are trademarks or registered trademarks of MacroGenics, Inc.