MacroGenics (NASDAQ:MGNX) Shares Up 3.1%

MacroGenics, Inc. (NASDAQ:MGNX)’s share price shot up 3.1% on Monday . The stock traded as high as $21.11 and last traded at $21.11. 15,168 shares were traded during mid-day trading, a decline of 98% from the average session volume of 774,191 shares. The stock had previously closed at $20.48.

MGNX has been the subject of several research reports. HC Wainwright reiterated a “buy” rating and issued a $41.00 target price on shares of MacroGenics in a research report on Monday. Zacks Investment Research upgraded shares of MacroGenics from a “sell” rating to a “hold” rating in a research report on Tuesday, August 17th. BTIG Research started coverage on shares of MacroGenics in a research report on Wednesday, June 16th. They set a “buy” rating for the company. Wedbush dropped their target price on shares of MacroGenics from $39.00 to $34.00 and set an “outperform” rating for the company in a report on Monday, June 7th. Finally, SVB Leerink reissued a “buy” rating on shares of MacroGenics in a research note on Sunday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, MacroGenics currently has a consensus rating of “Buy” and a consensus target price of $32.17.

The company’s fifty day moving average is $24.16 and its 200-day moving average is $27.54. The company has a market cap of $1.30 billion, a PE ratio of -9.65 and a beta of 2.23.

MacroGenics (NASDAQ:MGNX) last issued its earnings results on Thursday, July 29th. The biopharmaceutical company reported ($0.66) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.28) by ($0.38). MacroGenics had a negative return on equity of 41.16% and a negative net margin of 109.07%. The company had revenue of $30.76 million during the quarter, compared to analysts’ expectations of $35.55 million. On average, equities analysts expect that MacroGenics, Inc. will post -2.86 earnings per share for the current fiscal year.

In related news, SVP Thomas Spitznagel sold 5,000 shares of MacroGenics stock in a transaction on Friday, July 16th. The shares were sold at an average price of $25.01, for a total transaction of $125,050.00. Following the transaction, the senior vice president now owns 5,000 shares in the company, valued at approximately $125,050. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 7.90% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Federated Hermes Inc. boosted its holdings in shares of MacroGenics by 122.9% in the 1st quarter. Federated Hermes Inc. now owns 963 shares of the biopharmaceutical company’s stock valued at $31,000 after acquiring an additional 531 shares during the last quarter. AQR Capital Management LLC increased its position in shares of MacroGenics by 1.1% during the first quarter. AQR Capital Management LLC now owns 55,366 shares of the biopharmaceutical company’s stock valued at $1,763,000 after acquiring an additional 591 shares during the last quarter. Diversified Trust Co boosted its stake in shares of MacroGenics by 5.6% in the first quarter. Diversified Trust Co now owns 11,429 shares of the biopharmaceutical company’s stock valued at $364,000 after purchasing an additional 608 shares during the period. Arizona State Retirement System boosted its stake in shares of MacroGenics by 4.3% in the first quarter. Arizona State Retirement System now owns 15,543 shares of the biopharmaceutical company’s stock valued at $495,000 after purchasing an additional 634 shares during the period. Finally, Royal Bank of Canada lifted its stake in MacroGenics by 11.3% in the second quarter. Royal Bank of Canada now owns 6,639 shares of the biopharmaceutical company’s stock worth $178,000 after acquiring an additional 676 shares during the last quarter. 93.67% of the stock is owned by institutional investors.

MacroGenics Company Profile (NASDAQ:MGNX)

MacroGenics, Inc is a clinical-stage biopharmaceutical company, which engages in discovering and developing antibody-based therapeutics designed to modulate the human immune response for the treatment of cancer. Its product pipeline includes Margetuximab, Flotetuzumab, Retifanlimab, Enoblituzumab, Tebotelimab, MGC018, MGD019, IMGC936, and MGD014 for infectious diseases.

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