MacroGenics Inc. (MGNX) Shares Up 2.5%
MacroGenics Inc. (NASDAQ:MGNX) shares shot up 2.5% during mid-day trading on Monday . The company traded as high as $31.64 and last traded at $31.43, with a volume of 67,187 shares changing hands. The stock had previously closed at $30.66.
A number of brokerages have recently issued reports on MGNX. TheStreet raised MacroGenics from a “sell” rating to a “hold” rating in a report on Friday, August 5th. Citigroup Inc. downgraded MacroGenics from a “buy” rating to a “neutral” rating and increased their target price for the company from $27.00 to $32.00 in a report on Thursday, August 4th. Zacks Investment Research raised MacroGenics from a “sell” rating to a “hold” rating in a report on Wednesday, July 20th. Morgan Stanley reissued a “hold” rating on shares of MacroGenics in a report on Thursday, June 30th. Finally, Oppenheimer Holdings Inc. reissued a “buy” rating on shares of MacroGenics in a report on Tuesday, June 14th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $38.71.
The company has a 50 day moving average price of $29.27 and a 200 day moving average price of $22.59. The company’s market capitalization is $1.10 billion.
MacroGenics (NASDAQ:MGNX) last announced its quarterly earnings results on Wednesday, August 3rd. The biopharmaceutical company reported $1.12 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $1.14. During the same quarter in the prior year, the business posted ($0.71) earnings per share. The company earned $80.67 million during the quarter, compared to analysts’ expectations of $27.22 million. The company’s revenue was up 1100.4% compared to the same quarter last year. On average, equities analysts expect that MacroGenics Inc. will post ($1.29) EPS for the current year.
In related news, VP Lynn Cilinski sold 5,000 shares of the business’s stock in a transaction on Friday, May 27th. The stock was sold at an average price of $25.00, for a total transaction of $125,000.00. Following the transaction, the vice president now directly owns 6,923 shares in the company, valued at approximately $173,075. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Jon Marc Wigginton sold 20,000 shares of the business’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $30.78, for a total value of $615,600.00. Following the transaction, the senior vice president now owns 20,000 shares in the company, valued at $615,600. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors have made changes to their positions in MGNX. Cornerstone Capital Management Holdings LLC. increased 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 period. Jennison Associates LLC increased 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 period. Finally, Marshall Wace LLP increased 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 period.
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 operates through developing monoclonal antibody-based therapeutics for cancer, autoimmune and infectious diseases segment.
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