MacroGenics Inc (NASDAQ:MGNX) SVP Jon Marc Wigginton sold 15,000 shares of MacroGenics stock in a transaction dated Wednesday, April 19th. The stock was sold at an average price of $20.00, for a total value of $300,000.00. Following the completion of the transaction, the senior vice president now owns 45,000 shares in the company, valued at approximately $900,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
MacroGenics Inc (NASDAQ:MGNX) traded up 3.23% during mid-day trading on Thursday, hitting $20.79. The company had a trading volume of 322,586 shares. MacroGenics Inc has a 1-year low of $16.28 and a 1-year high of $33.30. The stock’s market capitalization is $727.11 million. The stock has a 50 day moving average price of $18.74 and a 200-day moving average price of $21.91.
MacroGenics (NASDAQ:MGNX) last posted its quarterly earnings results on Tuesday, February 28th. The biopharmaceutical company reported ($1.00) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.86) by $0.14. The business had revenue of $5 million for the quarter, compared to analyst estimates of $10.65 million. MacroGenics had a negative return on equity of 16.99% and a negative net margin of 55.01%. The business’s revenue was down 37.5% compared to the same quarter last year. On average, analysts forecast that MacroGenics Inc will post ($3.73) earnings per share for the current year.
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A number of institutional investors have recently bought and sold shares of MGNX. Interwest Venture Management Co. acquired a new position in MacroGenics during the fourth quarter worth $21,959,000. State Street Corp raised its position in MacroGenics by 1.0% in the fourth quarter. State Street Corp now owns 839,491 shares of the biopharmaceutical company’s stock worth $17,152,000 after buying an additional 8,661 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in MacroGenics during the fourth quarter worth $186,000. Baker BROS. Advisors LP acquired a new position in MacroGenics during the third quarter worth $10,878,000. Finally, BB Biotech AG raised its position in MacroGenics by 179.8% in the third quarter. BB Biotech AG now owns 1,455,000 shares of the biopharmaceutical company’s stock worth $43,519,000 after buying an additional 935,000 shares during the last quarter. Hedge funds and other institutional investors own 81.68% of the company’s stock.
MGNX has been the topic of several analyst reports. BTIG Research reiterated a “buy” rating and issued a $28.00 price objective (down previously from $35.00) on shares of MacroGenics in a report on Monday, March 6th. Cowen and Company reiterated a “buy” rating on shares of MacroGenics in a report on Wednesday, March 1st. Instinet initiated coverage on MacroGenics in a report on Wednesday, March 1st. They issued a “buy” rating and a $41.00 price objective on the stock. Nomura initiated coverage on MacroGenics in a report on Wednesday, March 1st. They issued a “buy” rating on the stock. Finally, Roth Capital set a $40.00 price objective on MacroGenics and gave the stock a “buy” rating in a report on Wednesday, March 1st. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the company. MacroGenics presently has a consensus rating of “Buy” and a consensus price target of $36.30.
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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