MacroGenics (NASDAQ:MGNX) Trading Down 9%

MacroGenics, Inc. (NASDAQ:MGNX) was down 9% on Thursday . The stock traded as low as $14.23 and last traded at $14.29. Approximately 323,553 shares were traded during trading, a decline of 77% from the average daily volume of 1,409,229 shares. The stock had previously closed at $15.70.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on MGNX shares. B. Riley started coverage on MacroGenics in a research report on Friday. They set a “buy” rating and a $25.00 target price on the stock. TD Cowen raised MacroGenics from a “hold” rating to a “buy” rating in a research report on Tuesday, April 9th. HC Wainwright lowered MacroGenics from a “buy” rating to a “neutral” rating and raised their target price for the stock from $12.00 to $14.00 in a research report on Wednesday, February 14th. TheStreet lowered MacroGenics from a “c” rating to a “d” rating in a research report on Thursday, March 7th. Finally, BTIG Research raised their target price on MacroGenics from $12.00 to $24.00 and gave the stock a “buy” rating in a research report on Monday, March 4th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $18.00.

MacroGenics Trading Up 1.3 %

The business has a 50 day moving average of $16.73 and a 200-day moving average of $11.91. The stock has a market cap of $910.87 million, a PE ratio of -91.00 and a beta of 2.09.

MacroGenics (NASDAQ:MGNX) last announced its earnings results on Thursday, March 7th. The biopharmaceutical company reported ($0.75) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.49). MacroGenics had a negative net margin of 15.42% and a negative return on equity of 88.49%. The company had revenue of $10.72 million during the quarter, compared to analysts’ expectations of $25.70 million. During the same quarter last year, the business posted $0.21 earnings per share. Research analysts expect that MacroGenics, Inc. will post -2.7 EPS for the current fiscal year.

Insider Buying and Selling at MacroGenics

In other news, SVP Ezio Bonvini sold 13,316 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $15.00, for a total value of $199,740.00. Following the completion of the sale, the senior vice president now directly owns 74,668 shares of the company’s stock, valued at approximately $1,120,020. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Ezio Bonvini sold 13,316 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $15.00, for a total value of $199,740.00. Following the completion of the sale, the senior vice president now directly owns 74,668 shares of the company’s stock, valued at approximately $1,120,020. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Jeffrey Stuart Peters sold 16,124 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $17.22, for a total value of $277,655.28. Following the completion of the sale, the vice president now directly owns 8,895 shares of the company’s stock, valued at $153,171.90. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 80,835 shares of company stock worth $1,276,588. 11.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On MacroGenics

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Bellevue Group AG raised its holdings in MacroGenics by 1.5% during the fourth quarter. Bellevue Group AG now owns 9,953,313 shares of the biopharmaceutical company’s stock worth $95,751,000 after purchasing an additional 150,000 shares during the last quarter. Vanguard Group Inc. raised its holdings in MacroGenics by 0.8% during the third quarter. Vanguard Group Inc. now owns 4,414,924 shares of the biopharmaceutical company’s stock worth $20,574,000 after purchasing an additional 36,396 shares during the last quarter. Frazier Life Sciences Management L.P. raised its holdings in MacroGenics by 33.2% during the fourth quarter. Frazier Life Sciences Management L.P. now owns 2,401,704 shares of the biopharmaceutical company’s stock worth $23,104,000 after purchasing an additional 598,500 shares during the last quarter. Acadian Asset Management LLC raised its holdings in MacroGenics by 7.8% during the third quarter. Acadian Asset Management LLC now owns 1,371,396 shares of the biopharmaceutical company’s stock worth $6,388,000 after purchasing an additional 99,755 shares during the last quarter. Finally, Silverarc Capital Management LLC raised its holdings in MacroGenics by 4.0% during the third quarter. Silverarc Capital Management LLC now owns 1,264,158 shares of the biopharmaceutical company’s stock worth $5,891,000 after purchasing an additional 48,483 shares during the last quarter. 96.89% of the stock is owned by institutional investors and hedge funds.

About MacroGenics

MacroGenics, Inc, a biopharmaceutical company, develops, manufactures, and commercializes antibody-based therapeutics to treat cancer in the United States. Its approved product is MARGENZA (margetuximab-cmkb), a human epidermal growth factor receptor 2 (HER2) receptor antagonist indicated, in combination with chemotherapy, for the treatment of adult patients with metastatic HER2-positive breast cancer who have received two or more prior anti-HER2 regimens.