MacroGenics (NASDAQ:MGNX) Stock Price Down 3.6%

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

Analyst Ratings Changes

MGNX has been the topic of several research reports. HC Wainwright lowered shares of MacroGenics from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $12.00 to $14.00 in a research note on Wednesday, February 14th. BTIG Research upped their target price on shares of MacroGenics from $12.00 to $24.00 and gave the company a “buy” rating in a report on Monday, March 4th. JMP Securities increased their price objective 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. Citigroup raised shares of MacroGenics from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $7.00 to $13.00 in a research note on Wednesday, December 20th. Finally, Barclays upped their target price on shares of MacroGenics from $12.00 to $23.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $17.00.

MacroGenics Stock Performance

The business’s 50 day moving average is $16.21 and its 200 day moving average is $10.27. The company has a market capitalization of $918.97 million, a price-to-earnings 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). The firm had revenue of $10.72 million for the quarter, compared to analysts’ expectations of $25.70 million. MacroGenics had a negative net margin of 15.42% and a negative return on equity of 88.49%. During the same period last year, the firm earned $0.21 earnings per share. Sell-side analysts predict that MacroGenics, Inc. will post -2.79 EPS for the current year.

Insider Activity

In other news, VP Jeffrey Stuart Peters sold 16,124 shares of MacroGenics 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 transaction, 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 legal filing with the SEC, which is available through the SEC website. In other news, VP Jeffrey Stuart Peters sold 16,124 shares of the company’s stock in a transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Ezio Bonvini sold 13,316 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $15.00, for a total transaction of $199,740.00. Following the sale, the senior vice president now directly owns 74,668 shares of the company’s stock, valued at approximately $1,120,020. The disclosure for this sale can be found here. Insiders sold a total of 42,756 shares of company stock valued at $637,187 in the last three months. 10.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of MGNX. Legal & General Group Plc lifted its position in shares of MacroGenics by 16.8% during the fourth quarter. Legal & General Group Plc now owns 9,457 shares of the biopharmaceutical company’s stock worth $91,000 after purchasing an additional 1,358 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of MacroGenics by 1.9% in the first quarter. Rhumbline Advisers now owns 95,416 shares of the biopharmaceutical company’s stock valued at $684,000 after purchasing an additional 1,781 shares during the period. Royal Bank of Canada boosted its stake in shares of MacroGenics by 57.1% in the second quarter. Royal Bank of Canada now owns 5,922 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 2,153 shares during the period. UBS Group AG boosted its stake in shares of MacroGenics by 3.3% in the fourth quarter. UBS Group AG now owns 70,498 shares of the biopharmaceutical company’s stock valued at $473,000 after purchasing an additional 2,282 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in shares of MacroGenics by 0.9% in the third quarter. Principal Financial Group Inc. now owns 275,550 shares of the biopharmaceutical company’s stock valued at $1,284,000 after purchasing an additional 2,335 shares during the period. Institutional investors and hedge funds own 96.89% of the company’s stock.

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.