MacroGenics Inc (NASDAQ:MGNX) was the target of a large increase in short interest in the month of January. As of January 31st, there was short interest totalling 4,180,000 shares, an increase of 14.5% from the January 15th total of 3,650,000 shares. Based on an average daily trading volume, of 575,700 shares, the days-to-cover ratio is currently 7.3 days. Currently, 9.5% of the company’s shares are short sold.
Shares of NASDAQ:MGNX opened at $10.16 on Friday. The company has a quick ratio of 4.79, a current ratio of 4.79 and a debt-to-equity ratio of 0.11. MacroGenics has a 1 year low of $7.43 and a 1 year high of $22.57. The stock’s fifty day moving average price is $10.62 and its 200-day moving average price is $11.36.
Several institutional investors have recently added to or reduced their stakes in MGNX. Marshall Wace LLP bought a new stake in MacroGenics during the 1st quarter valued at $80,000. Marshall Wace North America L.P. bought a new position in shares of MacroGenics during the first quarter valued at about $59,000. Morgan Stanley raised its stake in shares of MacroGenics by 7.1% during the second quarter. Morgan Stanley now owns 50,602 shares of the biopharmaceutical company’s stock valued at $859,000 after acquiring an additional 3,358 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new position in shares of MacroGenics during the third quarter valued at about $345,000. Finally, Rhumbline Advisers boosted its holdings in shares of MacroGenics by 6.2% during the third quarter. Rhumbline Advisers now owns 68,282 shares of the biopharmaceutical company’s stock worth $871,000 after purchasing an additional 4,006 shares during the period. 95.44% of the stock is currently owned by institutional investors.
Several brokerages have commented on MGNX. Citigroup lowered their price objective on shares of MacroGenics from $39.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, November 7th. BidaskClub downgraded MacroGenics from a “hold” rating to a “sell” rating in a report on Tuesday, January 28th. Cowen restated a “buy” rating on shares of MacroGenics in a research note on Tuesday, December 10th. Wedbush raised their price objective on shares of MacroGenics from $14.00 to $16.00 and gave the company an “outperform” rating in a research note on Tuesday, January 21st. Finally, Nomura reaffirmed a “buy” rating and issued a $50.00 target price on shares of MacroGenics in a report on Thursday, December 12th. One analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $21.09.
MacroGenics Company Profile
MacroGenics, Inc, a biopharmaceutical company, discovers and develops antibody-based therapeutics for the treatment of cancer in the United States. Its pipeline of immuno-oncology product candidates includes Margetuximab, a monoclonal antibody, which is in Phase III clinical trial that targets HER2-expressing tumors, such as various breast and gastroesophageal cancers.
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