MacroGenics Inc (NASDAQ:MGNX) saw a significant growth in short interest during the month of February. As of February 28th, there was short interest totalling 3,213,840 shares, a growth of 33.4% from the February 15th total of 2,409,285 shares. Currently, 7.5% of the shares of the company are short sold. Based on an average daily volume of 1,425,380 shares, the days-to-cover ratio is currently 2.3 days.

In related news, SVP Thomas Spitznagel sold 1,770 shares of the firm’s stock in a transaction that occurred on Wednesday, February 6th. The shares were sold at an average price of $30.00, for a total value of $53,100.00. Following the sale, the senior vice president now owns 1,770 shares in the company, valued at $53,100. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Matthew K. Fust sold 6,924 shares of the stock in a transaction that occurred on Wednesday, February 6th. The stock was sold at an average price of $29.38, for a total transaction of $203,427.12. Following the completion of the transaction, the director now owns 7,424 shares in the company, valued at $218,117.12. The disclosure for this sale can be found here. Insiders sold 8,762 shares of company stock worth $258,567 in the last 90 days. 8.82% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MGNX. Acadian Asset Management LLC bought a new stake in shares of MacroGenics during the 4th quarter valued at $65,000. Great West Life Assurance Co. Can raised its position in shares of MacroGenics by 148.6% during the 4th quarter. Great West Life Assurance Co. Can now owns 6,215 shares of the biopharmaceutical company’s stock valued at $76,000 after purchasing an additional 3,715 shares during the period. Legal & General Group Plc raised its position in shares of MacroGenics by 20.4% during the 4th quarter. Legal & General Group Plc now owns 7,432 shares of the biopharmaceutical company’s stock valued at $94,000 after purchasing an additional 1,261 shares during the period. Verition Fund Management LLC bought a new stake in shares of MacroGenics during the 3rd quarter valued at $202,000. Finally, Keybank National Association OH bought a new stake in shares of MacroGenics during the 3rd quarter valued at $203,000. Institutional investors and hedge funds own 87.05% of the company’s stock.

MGNX has been the topic of several recent research reports. Raymond James reiterated a “sell” rating on shares of MacroGenics in a research report on Monday, January 21st. ValuEngine downgraded shares of MacroGenics from a “buy” rating to a “hold” rating in a research report on Tuesday, December 11th. Citigroup upgraded shares of MacroGenics from a “sell” rating to a “buy” rating and increased their price target for the stock from $10.00 to $39.00 in a research report on Thursday, February 7th. HC Wainwright reiterated a “buy” rating and issued a $39.00 price target (up from $34.00) on shares of MacroGenics in a research report on Wednesday, February 6th. Finally, Nomura increased their price target on shares of MacroGenics from $41.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, February 7th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $31.78.

MGNX opened at $19.13 on Friday. MacroGenics has a 1-year low of $9.87 and a 1-year high of $32.32. The company has a market capitalization of $933.16 million, a price-to-earnings ratio of -4.57 and a beta of 3.02.

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About MacroGenics

MacroGenics, Inc, a biopharmaceutical company, discovers and develops antibody-based therapeutics for the treatment of cancer primarily by modulating the human immune system, and autoimmune disorders and infectious diseases in the United States. The company's advanced clinical product candidate is Margetuximab, a monoclonal antibody, which is in Phase III clinical trial that targets human epidermal growth factor receptor 2-expressing tumors, such as various breast and gastroesophageal cancers.

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