Insider Selling: Eric Blasius Risser Sells 8,000 Shares of MacroGenics Stock (MGNX)
MacroGenics (NASDAQ:MGNX) VP Eric Blasius Risser unloaded 8,000 shares of MacroGenics stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $21.84, for a total transaction of $174,720.00. Following the completion of the sale, the vice president now directly owns 13,316 shares of the company’s stock, valued at approximately $290,821. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
MacroGenics (NASDAQ:MGNX) traded up 2.67% on Tuesday, hitting $22.31. The stock had a trading volume of 208,843 shares. MacroGenics has a 52 week low of $17.96 and a 52 week high of $41.00. The stock has a 50-day moving average of $20.56 and a 200-day moving average of $27.94. The company’s market cap is $616.2 million. MacroGenics also was the target of a large drop in short interest in June. As of June 13th, there was short interest totalling 498,080 shares, a drop of 14.3% from the May 30th total of 580,908 shares. Approximately 2.7% of the company’s stock are short sold. Based on an average daily volume of 315,049 shares, the short-interest ratio is currently 1.6 days.
MacroGenics (NASDAQ:MGNX) last announced its earnings results on Tuesday, May 6th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by $0.03. Analysts expect that MacroGenics will post $-1.01 EPS for the current fiscal year.
A number of analysts have recently weighed in on MGNX shares. Analysts at Roth Capital raised their price target on shares of MacroGenics from $28.00 to $30.00 in a research note on Thursday, June 19th. Four research analysts have rated the stock with a buy rating, The company has a consensus rating of “Buy” and an average price target of $51.00.
MacroGenics, Inc is a clinical-stage biopharmaceutical company. The Company focuses on discovering and developing monoclonal antibody-based therapeutics for the treatment of cancer and autoimmune diseases.
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