Target N. V. Biotech Purchases 400,000 Shares of MacroGenics, Inc. (NASDAQ:MGNX) Stock

MacroGenics, Inc. (NASDAQ:MGNX) major shareholder Target N. V. Biotech acquired 400,000 shares of MacroGenics stock in a transaction dated Thursday, September 16th. The shares were bought at an average price of $20.94 per share, for a total transaction of $8,376,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

MGNX traded up $0.73 during trading on Monday, hitting $21.21. The stock had a trading volume of 21,403 shares, compared to its average volume of 774,191. The company has a market capitalization of $1.30 billion, a PE ratio of -9.65 and a beta of 2.23. MacroGenics, Inc. has a twelve month low of $18.16 and a twelve month high of $36.48. The stock has a 50 day simple moving average of $24.16 and a two-hundred day simple moving average of $27.54.

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

A number of research analysts recently weighed in on the stock. Zacks Investment Research raised shares of MacroGenics from a “sell” rating to a “hold” rating in a report on Tuesday, August 17th. Wedbush lowered their price target 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. SVB Leerink reaffirmed a “buy” rating on shares of MacroGenics in a report on Sunday. BTIG Research began coverage on shares of MacroGenics in a report on Wednesday, June 16th. They issued a “buy” rating for the company. Finally, HC Wainwright reissued a “buy” rating and issued a $41.00 price objective on shares of MacroGenics in a research report on Monday. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $32.17.

Several large investors have recently bought and sold shares of the company. Federated Hermes Inc. lifted its stake in shares of MacroGenics by 122.9% during the first quarter. Federated Hermes Inc. now owns 963 shares of the biopharmaceutical company’s stock worth $31,000 after buying an additional 531 shares during the period. AQR Capital Management LLC lifted its stake 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 worth $1,763,000 after buying an additional 591 shares during the period. Diversified Trust Co lifted its stake in shares of MacroGenics by 5.6% during the first quarter. Diversified Trust Co now owns 11,429 shares of the biopharmaceutical company’s stock worth $364,000 after buying an additional 608 shares during the period. Arizona State Retirement System lifted its stake in shares of MacroGenics by 4.3% during the first quarter. Arizona State Retirement System now owns 15,543 shares of the biopharmaceutical company’s stock worth $495,000 after buying an additional 634 shares during the period. Finally, Royal Bank of Canada boosted its stake in shares of 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 buying an additional 676 shares during the last quarter. Institutional investors and hedge funds own 93.67% of the company’s stock.

MacroGenics Company Profile

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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Insider Buying and Selling by Quarter for MacroGenics (NASDAQ:MGNX)

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