MacroGenics (NASDAQ:MGNX) Stock Price Down 3.6%

MacroGenics, Inc. (NASDAQ:MGNX)’s stock price traded down 3.6% on Thursday . The company traded as low as $14.40 and last traded at $14.42. 30,770 shares were traded during trading, a decline of 98% from the average session volume of 1,400,054 shares. The stock had previously closed at $14.96.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. BTIG Research increased their price target on shares of MacroGenics from $12.00 to $24.00 and gave the stock a “buy” rating in a research note on Monday, March 4th. JMP Securities raised their target price on shares of MacroGenics from $10.00 to $16.00 and gave the stock a “market outperform” rating in a research note on Wednesday, January 24th. TheStreet downgraded shares of MacroGenics from a “c” rating to a “d” rating in a report on Thursday, March 7th. Citigroup upgraded shares of MacroGenics from a “neutral” rating to a “buy” rating and increased their price target for the company from $7.00 to $13.00 in a report on Wednesday, December 20th. Finally, HC Wainwright downgraded shares of MacroGenics from a “buy” rating to a “neutral” rating and increased their price target for the company from $12.00 to $14.00 in a report on Wednesday, February 14th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.00.

MacroGenics Stock Performance

The company’s fifty day simple moving average is $16.21 and its two-hundred day simple moving average is $10.27. The stock has a market capitalization of $918.97 million, a PE ratio of -92.94 and a beta of 2.12.

MacroGenics (NASDAQ:MGNX) last posted 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 business had revenue of $10.72 million for the quarter, compared to analysts’ expectations of $25.70 million. During the same quarter last year, the business posted $0.21 earnings per share. Sell-side analysts forecast that MacroGenics, Inc. will post -2.79 EPS for the current fiscal year.

Insiders Place Their Bets

In other MacroGenics news, VP Jeffrey Stuart Peters sold 16,124 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $17.22, for a total transaction of $277,655.28. Following the sale, the vice president now directly owns 8,895 shares of the company’s stock, valued at approximately $153,171.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Ezio Bonvini sold 13,316 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The shares were 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 in the company, valued at $1,120,020. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Jeffrey Stuart Peters sold 16,124 shares of the business’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 transaction of $277,655.28. Following the completion of the sale, the vice president now owns 8,895 shares of the company’s stock, valued at $153,171.90. The disclosure for this sale can be found here. Insiders have sold 42,756 shares of company stock valued at $637,187 in the last ninety days. Insiders own 10.00% of the company’s stock.

Institutional Investors Weigh In On MacroGenics

Institutional investors have recently bought and sold shares of the stock. Point72 Middle East FZE purchased a new stake in MacroGenics in the fourth quarter valued at approximately $28,000. Royal Bank of Canada grew its stake in MacroGenics by 57.1% during the second quarter. Royal Bank of Canada now owns 5,922 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 2,153 shares during the period. Tower Research Capital LLC TRC grew its stake in MacroGenics by 74.1% during the third quarter. Tower Research Capital LLC TRC now owns 8,524 shares of the biopharmaceutical company’s stock worth $40,000 after buying an additional 3,628 shares during the period. Ensign Peak Advisors Inc purchased a new stake in MacroGenics during the third quarter worth approximately $41,000. Finally, AJOVista LLC purchased a new stake in MacroGenics during the fourth quarter worth approximately $51,000. 96.89% of the stock is currently owned by hedge funds and other institutional investors.

MacroGenics Company Profile

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.