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Stock impact report

MacroGenics stock slips after SMBC Nikko downgrades to neutral [Seeking Alpha]

MacroGenics, Inc. (MGNX) 
Last macrogenics, inc. earnings: 11/6 04:01 pm Check Earnings Report
US:NASDAQ Investor Relations: ir.macrogenics.com
Company Research Source: Seeking Alpha
MacroGenics stock slips after SMBC Nikko downgrades to neutralJul. 18, 2022 3:04 PM ETMacroGenics, Inc. (MGNX)By:Anuron MitraSA News Editorbizoo_nShares of micro-cap company MacroGenics (NASDAQ:fell ~19%SMBC Nikko lowered its rating on MGNX to neutral from outperform, citing the halt of thecompany's mid-stage head and neck cancer study along with several other challenges.MGNX last week said it haddecided to end its phase 2 studySMBC Nikko also said that the dose-reduction of MGNX's lead program, MGC018, in its upcoming phase 2/3 trial in prostate cancer could increase the risk of a negative efficacy outcome.Additionally, SMBC Nikko sees a lack of meaningful near-term catalysts for MGNX and increased financial risks associated with the need to raise additional capital in the next 12 months.SMBC Nikko's neutral rating on MGNX compares to aWall Street average ratingHowever, Seeking Alpha's Quant system, whichconsistently beats the marketstrong sell Show less Read more
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