MacroGenics Inc. (MGNX) Trading Up 2.5%
MacroGenics Inc. (NASDAQ:MGNX)’s share price was up 2.5% during trading on Monday . The company traded as high as $31.64 and last traded at $31.43, with a volume of 67,187 shares trading hands. The stock had previously closed at $30.66.
A number of equities analysts have recently commented on MGNX shares. Oppenheimer Holdings Inc. reissued a “buy” rating on shares of MacroGenics in a research note on Tuesday, June 14th. BTIG Research reaffirmed a “buy” rating and set a $35.00 price target on shares of MacroGenics in a report on Sunday, May 22nd. Morgan Stanley reaffirmed a “hold” rating on shares of MacroGenics in a report on Thursday, June 30th. Zacks Investment Research raised shares of MacroGenics from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 4th. Finally, TheStreet upgraded shares of MacroGenics from a “sell” rating to a “hold” rating in a report on Friday, August 5th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $38.71.
The stock’s market capitalization is $1.10 billion. The firm has a 50 day moving average price of $29.46 and a 200 day moving average price of $22.83.
MacroGenics (NASDAQ:MGNX) last announced its quarterly earnings results on Wednesday, August 3rd. The biopharmaceutical company reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $1.14. The firm earned $80.67 million during the quarter, compared to analyst estimates of $27.22 million. The business’s revenue was up 1100.4% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.71) earnings per share. On average, equities analysts anticipate that MacroGenics Inc. will post ($1.29) EPS for the current fiscal year.
In related news, VP Lynn Cilinski sold 8,922 shares of the stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $27.22, for a total value of $242,856.84. Following the sale, the vice president now directly owns 10,845 shares in the company, valued at approximately $295,200.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CMO Jon Marc Wigginton sold 5,000 shares of the stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $27.22, for a total transaction of $136,100.00. Following the completion of the sale, the chief marketing officer now owns 5,000 shares in the company, valued at $136,100. The disclosure for this sale can be found here.
Several hedge funds have recently made changes to their positions in the stock. Jennison Associates LLC increased its stake 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 worth $8,282,000 after buying an additional 909 shares in the last quarter. Cornerstone Capital Management Holdings LLC. boosted its stake in MacroGenics by 87.9% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 44,743 shares of the biopharmaceutical company’s stock worth $1,386,000 after buying an additional 20,929 shares during the last quarter. Finally, Marshall Wace LLP boosted its stake in MacroGenics by 94.1% in the fourth quarter. Marshall Wace LLP now owns 93,709 shares of the biopharmaceutical company’s stock worth $2,902,000 after buying an additional 45,422 shares during the last quarter.
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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