Jon Marc Wigginton Sells 10,000 Shares of MacroGenics Inc. (MGNX) Stock
MacroGenics Inc. (NASDAQ:MGNX) CMO Jon Marc Wigginton sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $29.34, for a total value of $293,400.00. Following the completion of the sale, the chief marketing officer now directly owns 10,000 shares in the company, valued at $293,400. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Jon Marc Wigginton also recently made the following trade(s):
- On Monday, August 1st, Jon Marc Wigginton sold 20,000 shares of MacroGenics stock. The shares were sold at an average price of $30.78, for a total value of $615,600.00.
Shares of MacroGenics Inc. (NASDAQ:MGNX) opened at 29.75 on Friday. MacroGenics Inc. has a 52 week low of $14.84 and a 52 week high of $36.11. The firm’s 50-day moving average is $30.27 and its 200 day moving average is $25.72. The firm’s market cap is $1.03 billion.
MacroGenics (NASDAQ:MGNX) last released its quarterly earnings results on Wednesday, August 3rd. The biopharmaceutical company reported $1.12 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $1.14. MacroGenics had a negative return on equity of 10.65% and a negative net margin of 31.77%. The business earned $80.67 million during the quarter, compared to analysts’ expectations of $27.22 million. During the same quarter in the prior year, the business earned ($0.71) earnings per share. The company’s quarterly revenue was up 1100.4% compared to the same quarter last year. Equities research analysts forecast that MacroGenics Inc. will post ($1.30) EPS for the current year.
Large investors have recently added to or reduced their stakes in the company. Cormorant Asset Management LLC boosted its stake in MacroGenics by 40.0% in the first quarter. Cormorant Asset Management LLC now owns 700,000 shares of the biopharmaceutical company’s stock valued at $13,125,000 after buying an additional 200,000 shares during the period. Jacobs Levy Equity Management Inc. bought a new stake in MacroGenics during the first quarter valued at approximately $1,555,000. Teachers Advisors Inc. boosted its stake in MacroGenics by 6.9% in the first quarter. Teachers Advisors Inc. now owns 226,174 shares of the biopharmaceutical company’s stock valued at $4,241,000 after buying an additional 14,600 shares during the period. Alps Advisors Inc. boosted its stake in MacroGenics by 25.8% in the second quarter. Alps Advisors Inc. now owns 48,530 shares of the biopharmaceutical company’s stock valued at $1,310,000 after buying an additional 9,942 shares during the period. Finally, Bellevue Group AG bought a new stake in MacroGenics during the first quarter valued at approximately $1,556,000. Institutional investors and hedge funds own 80.97% of the company’s stock.
MGNX has been the topic of several research analyst reports. Cowen and Company initiated coverage on MacroGenics in a report on Wednesday, September 7th. They issued an “outperform” rating on the stock. Zacks Investment Research raised MacroGenics from a “sell” rating to a “hold” rating in a report on Wednesday, July 20th. TheStreet raised MacroGenics from a “sell” rating to a “hold” rating in a report on Friday, August 5th. Oppenheimer Holdings Inc. reissued a “buy” rating on shares of MacroGenics in a report on Tuesday, June 14th. Finally, Citigroup Inc. lowered MacroGenics from a “buy” rating to a “neutral” rating and raised their price objective for the company from $27.00 to $32.00 in a report on Thursday, August 4th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $37.17.
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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