MacroGenics (NASDAQ:MGNX) Trading Down 9%

MacroGenics, Inc. (NASDAQ:MGNX) shares traded down 9% on Thursday . The stock traded as low as $14.23 and last traded at $14.29. 323,553 shares were traded during trading, a decline of 77% from the average session volume of 1,409,229 shares. The stock had previously closed at $15.70.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. TheStreet lowered MacroGenics from a “c” rating to a “d” rating in a research note on Thursday, March 7th. Barclays lifted their price objective on MacroGenics from $12.00 to $23.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. B. Riley initiated coverage on MacroGenics in a research report on Friday. They set a “buy” rating and a $25.00 price objective for the company. BTIG Research lifted their price objective on MacroGenics from $12.00 to $24.00 and gave the company a “buy” rating in a research report on Monday, March 4th. Finally, HC Wainwright lowered MacroGenics from a “buy” rating to a “neutral” rating and raised their target price for the company from $12.00 to $14.00 in a report on Wednesday, February 14th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, MacroGenics has a consensus rating of “Moderate Buy” and an average target price of $18.00.

MacroGenics Price Performance

The company has a fifty day simple moving average of $16.73 and a two-hundred day simple moving average of $11.91. The company has a market capitalization of $910.87 million, a P/E ratio of -91.00 and a beta of 2.09.

MacroGenics (NASDAQ:MGNX) last posted its quarterly earnings data on Thursday, March 7th. The biopharmaceutical company reported ($0.75) EPS for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.49). The business had revenue of $10.72 million during the quarter, compared to the consensus estimate of $25.70 million. MacroGenics had a negative return on equity of 88.49% and a negative net margin of 15.42%. During the same quarter in the previous year, the firm posted $0.21 earnings per share. Equities analysts anticipate that MacroGenics, Inc. will post -2.7 earnings per share for the current year.

Insider Transactions at MacroGenics

In related news, VP Jeffrey Stuart Peters sold 16,124 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $17.22, for a total transaction of $277,655.28. Following the transaction, the vice president now directly owns 8,895 shares in the company, valued at $153,171.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, VP Jeffrey Stuart Peters sold 16,124 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $17.22, for a total transaction of $277,655.28. Following the transaction, the vice president now directly owns 8,895 shares in the company, valued at $153,171.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Ezio Bonvini sold 13,316 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $15.00, for a total value of $199,740.00. Following the transaction, the senior vice president now owns 74,668 shares in the company, valued at $1,120,020. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 80,835 shares of company stock worth $1,276,588. Company insiders own 11.30% of the company’s stock.

Institutional Investors Weigh In On MacroGenics

A number of institutional investors have recently added to or reduced their stakes in the stock. Diversified Trust Co boosted its holdings in MacroGenics by 16.0% during the first quarter. Diversified Trust Co now owns 13,630 shares of the biopharmaceutical company’s stock valued at $201,000 after purchasing an additional 1,880 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in MacroGenics by 0.9% during the third quarter. Principal Financial Group Inc. now owns 275,550 shares of the biopharmaceutical company’s stock valued at $1,284,000 after purchasing an additional 2,335 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in MacroGenics by 7.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 49,337 shares of the biopharmaceutical company’s stock valued at $475,000 after purchasing an additional 3,319 shares in the last quarter. Sound Income Strategies LLC acquired a new stake in MacroGenics during the first quarter valued at approximately $77,000. Finally, AJOVista LLC acquired a new stake in MacroGenics during the fourth quarter valued at approximately $51,000. 96.89% of the stock is owned by institutional investors and hedge funds.

About MacroGenics

MacroGenics, Inc, a biopharmaceutical company, develops, manufactures, and commercializes antibody-based therapeutics to treat cancer in the United States. Its approved product is MARGENZA (margetuximab-cmkb), a human epidermal growth factor receptor 2 (HER2) receptor antagonist indicated, in combination with chemotherapy, for the treatment of adult patients with metastatic HER2-positive breast cancer who have received two or more prior anti-HER2 regimens.