MacroGenics (NASDAQ:MGNX) Shares Down 10.8%

MacroGenics, Inc. (NASDAQ:MGNX) shares traded down 10.8% during mid-day trading on Wednesday . The stock traded as low as $14.29 and last traded at $14.31. 500,731 shares were traded during mid-day trading, a decline of 63% from the average session volume of 1,342,682 shares. The stock had previously closed at $16.05.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on MGNX shares. JMP Securities reaffirmed a “market outperform” rating on shares of MacroGenics in a research report on Thursday, April 4th. B. Riley began coverage on shares of MacroGenics in a research report on Friday, April 26th. They set a “buy” rating and a $25.00 price objective on the stock. TheStreet downgraded MacroGenics from a “c” rating to a “d” rating in a research note on Thursday, March 7th. BTIG Research boosted their price objective on MacroGenics from $12.00 to $24.00 and gave the company a “buy” rating in a report on Monday, March 4th. Finally, HC Wainwright cut MacroGenics from a “buy” rating to a “neutral” rating and increased their target price for the stock 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 company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $18.00.

MacroGenics Stock Down 7.7 %

The stock has a 50-day simple moving average of $16.43 and a 200-day simple moving average of $12.59. The firm has a market capitalization of $927.15 million, a PE ratio of -93.44 and a beta of 2.09.

MacroGenics (NASDAQ:MGNX) last posted its earnings results on Thursday, March 7th. The biopharmaceutical company reported ($0.75) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.49). The company had revenue of $10.72 million for the quarter, compared to analysts’ expectations 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 prior year, the company earned $0.21 EPS. Equities analysts forecast that MacroGenics, Inc. will post -2.7 earnings per share for the current fiscal year.

Insider Buying and Selling at MacroGenics

In other news, VP Jeffrey Stuart Peters sold 16,124 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $17.22, for a total value of $277,655.28. Following the sale, the vice president now directly owns 8,895 shares of the company’s stock, valued at $153,171.90. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 11.30% of the company’s stock.

Institutional Trading of MacroGenics

Several institutional investors and hedge funds have recently modified their holdings of the business. AJOVista LLC bought a new position in shares of MacroGenics in the fourth quarter worth approximately $51,000. China Universal Asset Management Co. Ltd. raised its position in shares of MacroGenics by 349.2% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 7,174 shares of the biopharmaceutical company’s stock valued at $69,000 after buying an additional 5,577 shares in the last quarter. Sound Income Strategies LLC bought a new stake in shares of MacroGenics during the 1st quarter worth $77,000. SG Americas Securities LLC purchased a new position in MacroGenics in the third quarter worth $97,000. Finally, Sherbrooke Park Advisers LLC bought a new position in MacroGenics in the third quarter valued at $99,000. Hedge funds and other institutional investors own 96.89% of the company’s stock.

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.