MacroGenics Inc (NASDAQ:MGNX)’s share price rose 5.9% during trading on Friday . The company traded as high as $14.26 and last traded at $14.23, approximately 350,850 shares were traded during mid-day trading. A decline of 67% from the average daily volume of 1,062,300 shares. The stock had previously closed at $13.44.
MGNX has been the topic of a number of recent research reports. Cowen set a $27.00 target price on Puma Biotechnology and gave the stock a “hold” rating in a report on Wednesday, June 5th. Guggenheim cut Anadarko Petroleum from a “buy” rating to a “hold” rating and set a $69.00 target price on the stock. in a report on Friday, April 12th. HC Wainwright reaffirmed a “neutral” rating on shares of Syros Pharmaceuticals in a report on Thursday, May 2nd. Wedbush initiated coverage on Millendo Therapeutics in a report on Thursday, July 18th. They issued an “outperform” rating and a $24.00 target price on the stock. Finally, Zacks Investment Research cut Phoenix New Media from a “hold” rating to a “sell” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $31.62.
The company has a current ratio of 6.47, a quick ratio of 6.47 and a debt-to-equity ratio of 0.08. The firm has a market cap of $670.10 million, a price-to-earnings ratio of -3.40 and a beta of 2.37. The stock has a 50 day simple moving average of $15.77.
MacroGenics (NASDAQ:MGNX) last issued its quarterly earnings results on Wednesday, May 1st. The biopharmaceutical company reported ($0.99) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.95) by ($0.04). MacroGenics had a negative return on equity of 57.65% and a negative net margin of 256.47%. The business had revenue of $9.66 million during the quarter, compared to analysts’ expectations of $11.46 million. As a group, analysts forecast that MacroGenics Inc will post -3.71 earnings per share for the current fiscal year.
In other MacroGenics news, SVP Eric Blasius Risser sold 3,000 shares of the stock in a transaction on Monday, May 20th. The stock was sold at an average price of $18.38, for a total value of $55,140.00. Following the completion of the sale, the senior vice president now owns 33,806 shares in the company, valued at approximately $621,354.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 7.88% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Marshall Wace North America L.P. purchased a new position in MacroGenics in the first quarter worth about $59,000. Pearl River Capital LLC purchased a new position in MacroGenics in the first quarter worth about $74,000. Great West Life Assurance Co. Can grew its position in MacroGenics by 148.6% in the fourth quarter. Great West Life Assurance Co. Can now owns 6,215 shares of the biopharmaceutical company’s stock worth $76,000 after acquiring an additional 3,715 shares in the last quarter. Marshall Wace LLP purchased a new position in MacroGenics in the first quarter worth about $80,000. Finally, Bank of Montreal Can grew its position in MacroGenics by 804.2% in the first quarter. Bank of Montreal Can now owns 5,000 shares of the biopharmaceutical company’s stock worth $90,000 after acquiring an additional 4,447 shares in the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.
About MacroGenics (NASDAQ:MGNX)
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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