Insider Buying: MacroGenics, Inc. (NASDAQ:MGNX) Major Shareholder Acquires 150,000 Shares of Stock

MacroGenics, Inc. (NASDAQ:MGNX – Get Rating) major shareholder Target N. V. Biotech purchased 150,000 shares of the firm’s stock in a transaction dated Thursday, January 19th. The shares were bought at an average price of $5.30 per share, for a total transaction of $795,000.00. Following the completion of the transaction, the insider now owns 9,079,963 shares of the company’s stock, valued at $48,123,803.90. The acquisition was disclosed in a filing with the SEC, which is available at this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

MacroGenics Stock Performance

MGNX traded up $0.08 during midday trading on Monday, hitting $5.87. The stock had a trading volume of 519,665 shares, compared to its average volume of 578,919. The company has a market cap of $360.86 million, a P/E ratio of -1.89 and a beta of 2.04. The business has a fifty day moving average of $6.10 and a 200 day moving average of $4.80. MacroGenics, Inc. has a 1 year low of $2.13 and a 1 year high of $13.27.

MacroGenics (NASDAQ:MGNX – Get Rating) last issued its earnings results on Thursday, November 3rd. The biopharmaceutical company reported ($0.40) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.49) by $0.09. The business had revenue of $41.73 million during the quarter, compared to analyst estimates of $22.74 million. MacroGenics had a negative return on equity of 111.57% and a negative net margin of 204.95%. On average, equities research analysts anticipate that MacroGenics, Inc. will post -1.48 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on MGNX shares. BMO Capital Markets upgraded MacroGenics from a “market perform” rating to an “outperform” rating and upped their price target for the company from $5.70 to $16.00 in a research report on Monday, November 14th. StockNews.com started coverage on MacroGenics in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Guggenheim upgraded MacroGenics from a “neutral” rating to a “buy” rating and set a $12.00 price target on the stock in a research report on Tuesday, November 22nd. Citigroup lowered MacroGenics from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $16.00 to $7.00 in a report on Wednesday, November 23rd. Finally, JMP Securities cut their price objective on MacroGenics from $18.00 to $8.00 and set a “market outperform” rating for the company in a report on Thursday. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, MacroGenics has a consensus rating of “Moderate Buy” and a consensus price target of $9.56.

Institutional Trading of MacroGenics

Hedge funds and other institutional investors have recently bought and sold shares of the company. Denali Advisors LLC purchased a new stake in MacroGenics in the third quarter worth approximately $25,000. Nisa Investment Advisors LLC boosted its stake in MacroGenics by 692.3% in the third quarter. Nisa Investment Advisors LLC now owns 5,150 shares of the biopharmaceutical company’s stock worth $26,000 after buying an additional 4,500 shares in the last quarter. Chicago Partners Investment Group LLC purchased a new stake in MacroGenics in the second quarter worth approximately $32,000. Mackenzie Financial Corp purchased a new stake in shares of MacroGenics during the second quarter valued at approximately $37,000. Finally, Diversified Trust Co purchased a new stake in shares of MacroGenics during the second quarter valued at approximately $37,000. Hedge funds and other institutional investors own 93.63% of the company’s stock.

About MacroGenics

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MacroGenics, Inc, a biopharmaceutical company, develops 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.