MacroGenics Inc (MGNX) SVP Sells $100,000.00 in Stock

MacroGenics Inc (NASDAQ:MGNX) SVP Jon Marc Wigginton sold 5,000 shares of the business’s stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $20.00, for a total value of $100,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Jon Marc Wigginton also recently made the following trade(s):

  • On Tuesday, November 21st, Jon Marc Wigginton sold 5,000 shares of MacroGenics stock. The stock was sold at an average price of $20.00, for a total value of $100,000.00.
  • On Wednesday, October 25th, Jon Marc Wigginton sold 10,000 shares of MacroGenics stock. The stock was sold at an average price of $20.00, for a total value of $200,000.00.

Shares of MacroGenics Inc (MGNX) traded down $0.96 during mid-day trading on Thursday, reaching $18.89. The company’s stock had a trading volume of 364,897 shares, compared to its average volume of 191,217. MacroGenics Inc has a fifty-two week low of $14.36 and a fifty-two week high of $22.31. The stock has a market capitalization of $728.35, a P/E ratio of -4.20 and a beta of 2.73.

MacroGenics (NASDAQ:MGNX) last issued its quarterly earnings data on Wednesday, November 8th. The biopharmaceutical company reported ($1.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.09) by ($0.19). MacroGenics had a negative net margin of 1,526.55% and a negative return on equity of 69.31%. The company had revenue of $1.70 million for the quarter, compared to analysts’ expectations of $5.50 million. During the same quarter last year, the company earned ($0.97) earnings per share. The company’s revenue for the quarter was down 48.5% on a year-over-year basis. research analysts expect that MacroGenics Inc will post -0.7 earnings per share for the current year.

Hedge funds have recently modified their holdings of the business. Cornerstone Capital Management Holdings LLC. raised its position in MacroGenics by 43.9% during the third quarter. Cornerstone Capital Management Holdings LLC. now owns 33,438 shares of the biopharmaceutical company’s stock valued at $617,000 after purchasing an additional 10,200 shares during the period. Tocqueville Asset Management L.P. raised its position in MacroGenics by 33.3% during the third quarter. Tocqueville Asset Management L.P. now owns 100,000 shares of the biopharmaceutical company’s stock valued at $1,848,000 after purchasing an additional 25,000 shares during the period. Vanguard Group Inc. raised its position in MacroGenics by 2.8% during the second quarter. Vanguard Group Inc. now owns 1,391,322 shares of the biopharmaceutical company’s stock valued at $24,362,000 after purchasing an additional 38,458 shares during the period. Hood River Capital Management LLC raised its position in MacroGenics by 2.2% during the third quarter. Hood River Capital Management LLC now owns 588,799 shares of the biopharmaceutical company’s stock valued at $10,881,000 after purchasing an additional 12,606 shares during the period. Finally, Pinnacle Associates Ltd. raised its position in MacroGenics by 38.3% during the third quarter. Pinnacle Associates Ltd. now owns 843,175 shares of the biopharmaceutical company’s stock valued at $15,582,000 after purchasing an additional 233,657 shares during the period. Institutional investors and hedge funds own 85.77% of the company’s stock.

MGNX has been the topic of a number of research analyst reports. Cowen reiterated a “buy” rating on shares of MacroGenics in a research report on Wednesday, October 25th. Zacks Investment Research downgraded MacroGenics from a “hold” rating to a “sell” rating in a research report on Wednesday, October 4th. ValuEngine upgraded MacroGenics from a “strong sell” rating to a “sell” rating in a research report on Friday, December 1st. Raymond James Financial reiterated a “buy” rating on shares of MacroGenics in a research report on Monday, December 11th. Finally, Citigroup boosted their target price on MacroGenics from $18.00 to $22.00 and gave the stock a “neutral” rating in a research report on Friday, November 10th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $30.10.

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About MacroGenics

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 develops therapeutic product candidates using its antibody-based technology platforms and also in collaboration with other biopharmaceutical companies.

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