MacroGenics Inc. (NASDAQ:MGNX) dropped 3.6% on Wednesday . The stock traded as low as $26.34 and last traded at $26.51, with a volume of 109,448 shares trading hands. The stock had previously closed at $27.50.

MGNX has been the topic of several recent analyst reports. Morgan Stanley increased their target price on shares of MacroGenics from $20.00 to $21.00 in a research note on Friday, April 8th. Oppenheimer Holdings Inc. reissued a “buy” rating on shares of MacroGenics in a research note on Tuesday, June 14th. BTIG Research reissued a “buy” rating and issued a $35.00 target price on shares of MacroGenics in a research note on Sunday, May 22nd. Zacks Investment Research raised shares of MacroGenics from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 4th. Finally, Leerink Swann reaffirmed an “outperform” rating and issued a $47.00 price target on shares of MacroGenics in a research note on Thursday, May 19th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the company’s stock. MacroGenics presently has a consensus rating of “Buy” and an average price target of $40.25.

The stock has a 50-day moving average of $25.95 and a 200 day moving average of $21.47. The firm’s market cap is $905.42 million.

MacroGenics (NASDAQ:MGNX) last announced its earnings results on Wednesday, May 4th. The biopharmaceutical company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.67) by $0.21. On average, equities analysts anticipate that MacroGenics Inc. will post ($2.29) earnings per share for the current year.

In other MacroGenics news, VP Lynn Cilinski sold 5,000 shares of MacroGenics stock in a transaction on Friday, May 27th. The shares were sold at an average price of $25.00, for a total transaction of $125,000.00. Following the sale, the vice president now owns 6,923 shares of the company’s stock, valued at approximately $173,075. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Other hedge funds and institutional investors have recently made changes to their positions in the company. Cornerstone Capital Management Holdings LLC. boosted its position in shares of MacroGenics by 87.9% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 44,743 shares of the biopharmaceutical company’s stock valued at $1,386,000 after buying an additional 20,929 shares during the last quarter. California State Teachers Retirement System boosted its position in shares of MacroGenics by 1.8% in the fourth quarter. California State Teachers Retirement System now owns 58,401 shares of the biopharmaceutical company’s stock valued at $1,809,000 after buying an additional 1,038 shares during the last quarter. GAM Holding AG boosted its position in shares of MacroGenics by 118.3% in the fourth quarter. GAM Holding AG now owns 63,100 shares of the biopharmaceutical company’s stock valued at $1,954,000 after buying an additional 34,200 shares during the last quarter. Marshall Wace LLP boosted its position in shares of MacroGenics by 94.1% in the fourth quarter. Marshall Wace LLP now owns 93,709 shares of the biopharmaceutical company’s stock valued at $2,902,000 after buying an additional 45,422 shares during the last quarter. Finally, Jennison Associates LLC boosted its position in shares of MacroGenics by 0.3% in the fourth quarter. Jennison Associates LLC now owns 267,408 shares of the biopharmaceutical company’s stock valued at $8,282,000 after buying an additional 909 shares during the last quarter.

MacroGenics, Inc is a biopharmaceutical company focused on discovering and developing antibody-based therapeutics for the treatment of cancer, as well as various autoimmune disorders and infectious diseases. The Company develops new therapeutic product candidates using its antibody-based technology platforms and also in partnership with other biopharmaceutical companies.

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