Short Interest in MacroGenics, Inc. (NASDAQ:MGNX) Decreases By 22.5%

MacroGenics, Inc. (NASDAQ:MGNX) was the target of a significant decrease in short interest in the month of April. As of April 15th, there was short interest totaling 2,928,196 shares, a decrease of 22.5% from the March 31st total of 3,778,755 shares. Based on an average trading volume of 979,052 shares, the days-to-cover ratio is presently 3.0 days. Currently, 5.3% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Zacks Research lowered MacroGenics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 1st. B. Riley Financial raised MacroGenics from a “neutral” rating to a “buy” rating and upped their price target for the company from $3.00 to $9.00 in a research note on Friday, April 10th. Barclays upped their price target on MacroGenics from $4.00 to $6.00 and gave the company an “overweight” rating in a research note on Monday, April 20th. Wall Street Zen raised MacroGenics from a “sell” rating to a “hold” rating in a research note on Saturday, March 14th. Finally, Citigroup reaffirmed a “market perform” rating on shares of MacroGenics in a research note on Tuesday, February 24th. Three equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $5.40.

Institutional Investors Weigh In On MacroGenics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. R Squared Ltd bought a new stake in MacroGenics in the fourth quarter valued at about $26,000. Engineers Gate Manager LP bought a new stake in MacroGenics in the second quarter valued at about $28,000. SG Americas Securities LLC increased its holdings in MacroGenics by 55.9% in the third quarter. SG Americas Securities LLC now owns 17,179 shares of the biopharmaceutical company’s stock valued at $29,000 after purchasing an additional 6,161 shares during the last quarter. Walleye Capital LLC bought a new stake in MacroGenics in the second quarter valued at about $30,000. Finally, Cresset Asset Management LLC increased its holdings in MacroGenics by 52.3% in the second quarter. Cresset Asset Management LLC now owns 26,720 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 9,172 shares during the last quarter. Institutional investors own 96.89% of the company’s stock.

MacroGenics Stock Up 1.6%

NASDAQ MGNX traded up $0.05 on Friday, reaching $3.13. The company had a trading volume of 483,480 shares, compared to its average volume of 732,319. The stock’s 50 day moving average is $2.89 and its 200-day moving average is $2.06. The stock has a market cap of $198.94 million, a price-to-earnings ratio of -2.68 and a beta of 1.08. MacroGenics has a 52 week low of $1.18 and a 52 week high of $3.88.

MacroGenics (NASDAQ:MGNX) last released its quarterly earnings data on Monday, March 9th. The biopharmaceutical company reported ($0.22) EPS for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.20. The business had revenue of $41.23 million during the quarter, compared to the consensus estimate of $27.81 million. MacroGenics had a negative return on equity of 120.19% and a negative net margin of 49.91%. As a group, analysts forecast that MacroGenics will post -1.2 EPS for the current year.

MacroGenics Company Profile

MacroGenics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of monoclonal antibody–based therapeutics for the treatment of cancer and autoimmune diseases. The company leverages proprietary Fc engineering technologies to enhance immune engagement and extend the activity of its antibodies. Since its founding in 2000, MacroGenics has advanced several product candidates through clinical trials, most notably margetuximab, a HER2-targeted antibody designed to improve outcomes in patients with HER2-positive breast cancer.

Central to MacroGenics’ research platform are its ADAPTIR and Trident bispecific antibody technologies.