MacroGenics Inc. (MGNX) Shares Down 1.5%
MacroGenics Inc. (NASDAQ:MGNX) shares fell 1.5% on Wednesday . The company traded as low as $30.26 and last traded at $30.81, with a volume of 81,072 shares changing hands. The stock had previously closed at $31.28.
A number of analysts have issued reports on MGNX shares. Morgan Stanley reaffirmed a “hold” rating on shares of MacroGenics in a report on Thursday, June 30th. Oppenheimer Holdings Inc. reaffirmed a “buy” rating on shares of MacroGenics in a report on Tuesday, June 14th. Citigroup Inc. lowered MacroGenics from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $27.00 to $32.00 in a report on Thursday, August 4th. TheStreet raised MacroGenics from a “sell” rating to a “hold” rating in a report on Friday, August 5th. Finally, Zacks Investment Research lowered MacroGenics from a “hold” rating to a “sell” rating in a report on Wednesday, July 6th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $38.71.
The company has a 50-day moving average of $30.49 and a 200-day moving average of $24.71. The company’s market capitalization is $1.09 billion.
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MacroGenics (NASDAQ:MGNX) last released its earnings results on Wednesday, August 3rd. The biopharmaceutical company reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $1.14. MacroGenics had a negative return on equity of 10.65% and a negative net margin of 31.77%. The business had revenue of $80.67 million for the quarter, compared to analyst estimates of $27.22 million. During the same quarter in the prior year, the company posted ($0.71) earnings per share. MacroGenics’s revenue was up 1100.4% on a year-over-year basis. Analysts forecast that MacroGenics Inc. will post ($1.30) earnings per share for the current fiscal year.
In other MacroGenics news, VP Lynn Cilinski sold 8,922 shares of the company’s stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $27.22, for a total value of $242,856.84. Following the sale, the vice president now owns 10,845 shares in the company, valued at $295,200.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Jon Marc Wigginton sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $30.78, for a total value of $615,600.00. Following the completion of the sale, the senior vice president now owns 20,000 shares in the company, valued at approximately $615,600. The disclosure for this sale can be found here. Corporate insiders own 6.78% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in MGNX. Royal Bank of Canada raised its stake in MacroGenics by 1,122.9% in the second quarter. Royal Bank of Canada now owns 14,430 shares of the biopharmaceutical company’s stock valued at $390,000 after buying an additional 13,250 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in MacroGenics by 19.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 114,901 shares of the biopharmaceutical company’s stock valued at $3,102,000 after buying an additional 18,392 shares in the last quarter. Point72 Asset Management L.P. raised its stake in MacroGenics by 9.6% in the second quarter. Point72 Asset Management L.P. now owns 2,554,900 shares of the biopharmaceutical company’s stock valued at $68,957,000 after buying an additional 224,700 shares in the last quarter. Iguana Healthcare Management LLC acquired a new stake in MacroGenics during the second quarter valued at about $2,024,000. Finally, EverPoint Asset Management LLC raised its stake in MacroGenics by 33.3% in the second quarter. EverPoint Asset Management LLC now owns 400,000 shares of the biopharmaceutical company’s stock valued at $10,796,000 after buying an additional 100,000 shares in the last quarter. Hedge funds and other institutional investors own 80.97% of the company’s stock.
MacroGenics Company Profile
MacroGenics, Inc is a clinical-stage biopharmaceutical company focused on discovering and developing monoclonal antibody-based therapeutics for the treatment of cancer, as well as various autoimmune disorders and infectious diseases. The Company operates through developing monoclonal antibody-based therapeutics for cancer, autoimmune and infectious diseases segment.
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