MGNX stock plunges to 52-week low, hitting $1.16

Macrogenics Inc. (NASDAQ:MGNX) stock has tumbled to a 52-week low, with shares dropping to $1.16. The micro-cap biotech, now valued at just $74 million, has seen its stock plummet with a -91.08% one-year return. According to InvestingPro data, the stock’s beta of 2.11 indicates high volatility compared to the broader market. Investors are grappling with the implications of this decline as the biopharmaceutical company, known for its innovative pipeline of antibody-based therapeutics, faces market challenges that have severely impacted its stock valuation. Despite the selloff, InvestingPro analysis suggests the stock is currently undervalued, with analyst price targets ranging from $2 to $8. The 52-week low serves as a critical inflection point for Macrogenics, as stakeholders and analysts reassess the company’s future prospects and strategic direction amidst a challenging economic landscape. InvestingPro subscribers can access 15 additional ProTips and a comprehensive research report for deeper insights into MGNX’s financial health and growth prospects.

In other recent news, MacroGenics announced its fourth-quarter 2024 earnings, reporting a narrower-than-expected loss per share of -0.07, surpassing the forecast of -0.40. The company also achieved significant revenue growth, with quarterly revenue reaching $49.4 million, exceeding the anticipated $29.19 million. MacroGenics’ total revenue for 2024 was $150 million, a substantial increase from $58.7 million in 2023, primarily driven by collaborative agreements. H.C. Wainwright adjusted its price target for MacroGenics to $2, down from $4, while maintaining a Neutral rating, following the company’s decision to halt the development of its drug candidate vobra duo. Stifel analysts maintained a Hold rating with a price target of $6, focusing on the potential impact of upcoming clinical trial results for MacroGenics’ drug lorigerlimab. Citizens JMP reiterated a Market Outperform rating, highlighting the importance of updates on lorigerlimab expected in the second half of 2025. MacroGenics reported operating expenses of $260 million for the fiscal year, with a cash balance of $202 million, expected to extend the financial runway into the second half of 2026.

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