MacroGenics (NASDAQ:MGNX) Shares Gap Up to $14.37

MacroGenics, Inc. (NASDAQ:MGNX)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $14.37, but opened at $15.22. MacroGenics shares last traded at $14.94, with a volume of 63,314 shares trading hands.

Analyst Ratings Changes

MGNX has been the topic of several research analyst reports. JMP Securities restated a “market outperform” rating on shares of MacroGenics in a research note on Thursday, April 4th. BTIG Research increased their target price on MacroGenics from $12.00 to $24.00 and gave the stock a “buy” rating in a research note on Monday, March 4th. TheStreet lowered MacroGenics from a “c” rating to a “d” rating in a research note on Thursday, March 7th. HC Wainwright lowered MacroGenics from a “buy” rating to a “neutral” rating and increased their target price for the stock from $12.00 to $14.00 in a research note on Wednesday, February 14th. Finally, B. Riley began coverage on MacroGenics in a research note on Friday. They set a “buy” rating and a $25.00 target price on the stock. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, MacroGenics has a consensus rating of “Moderate Buy” and a consensus target price of $18.00.

MacroGenics Price Performance

The firm has a market cap of $910.87 million, a price-to-earnings ratio of -91.00 and a beta of 2.09. The stock has a 50-day moving average of $16.68 and a 200-day moving average of $11.98.

MacroGenics (NASDAQ:MGNX) last issued its earnings results on Thursday, March 7th. The biopharmaceutical company reported ($0.75) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.49). The business had revenue of $10.72 million during the quarter, compared to analyst estimates 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 in the prior year, the business posted $0.21 EPS. On average, equities analysts expect that MacroGenics, Inc. will post -2.7 EPS for the current fiscal year.

Insider Buying and Selling at MacroGenics

In related news, SVP Ezio Bonvini sold 13,316 shares of the firm’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 owns 74,668 shares of the company’s stock, valued at approximately $1,120,020. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, SVP Ezio Bonvini sold 13,316 shares of the firm’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 owns 74,668 shares of the company’s stock, valued at approximately $1,120,020. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Jeffrey Stuart Peters sold 51,395 shares of the firm’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $15.55, for a total value of $799,192.25. The disclosure for this sale can be found here. In the last quarter, insiders have sold 80,835 shares of company stock valued at $1,276,588. 11.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On MacroGenics

Several hedge funds have recently modified their holdings of the company. GSA Capital Partners LLP raised its position in MacroGenics by 74.9% during the 3rd quarter. GSA Capital Partners LLP now owns 225,918 shares of the biopharmaceutical company’s stock worth $1,053,000 after purchasing an additional 96,760 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in MacroGenics during the 3rd quarter worth $281,000. Silverarc Capital Management LLC raised its position in MacroGenics by 4.0% during the 3rd quarter. Silverarc Capital Management LLC now owns 1,264,158 shares of the biopharmaceutical company’s stock worth $5,891,000 after purchasing an additional 48,483 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in MacroGenics by 32.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 194,204 shares of the biopharmaceutical company’s stock worth $905,000 after purchasing an additional 48,118 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in MacroGenics during the 3rd quarter worth $649,000. 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.