Jeffrey Stuart Peters Sells 31,105 Shares of MacroGenics (NASDAQ:MGNX) Stock

MacroGenics, Inc. (NASDAQ:MGNX) VP Jeffrey Stuart Peters sold 31,105 shares of MacroGenics stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $4.15, for a total transaction of $129,085.75. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

MacroGenics Price Performance

MGNX stock opened at $4.10 on Friday. The company has a market capitalization of $261.17 million, a P/E ratio of -18.64 and a beta of 1.20. MacroGenics, Inc. has a 12 month low of $1.29 and a 12 month high of $5.08. The firm’s fifty day simple moving average is $4.24 and its 200-day simple moving average is $3.46.

MacroGenics (NASDAQ:MGNX) last posted its earnings results on Thursday, August 13th. The biopharmaceutical company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.39. MacroGenics had a negative net margin of 8.70% and a negative return on equity of 109.26%. The company had revenue of $32.83 million during the quarter, compared to the consensus estimate of $59.14 million. As a group, sell-side analysts forecast that MacroGenics, Inc. will post -1.48 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently commented on MGNX. B. Riley Financial raised their target price on MacroGenics from $9.00 to $11.00 and gave the stock a “buy” rating in a report on Monday. Weiss Ratings reissued a “sell (d-)” rating on shares of MacroGenics in a report on Wednesday, August 5th. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, MacroGenics presently has a consensus rating of “Hold” and a consensus target price of $6.33.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Invesco Ltd. increased its position in shares of MacroGenics by 90.0% in the first quarter. Invesco Ltd. now owns 68,377 shares of the biopharmaceutical company’s stock valued at $87,000 after buying an additional 32,398 shares in the last quarter. Amundi purchased a new position in shares of MacroGenics during the 1st quarter valued at approximately $272,000. Jones Financial Companies Lllp lifted its position in shares of MacroGenics by 456,243.3% during the 1st quarter. Jones Financial Companies Lllp now owns 136,903 shares of the biopharmaceutical company’s stock valued at $174,000 after buying an additional 136,873 shares in the last quarter. Russell Investments Group Ltd. grew its stake in MacroGenics by 2,970.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 49,564 shares of the biopharmaceutical company’s stock valued at $59,000 after acquiring an additional 47,950 shares during the period. Finally, Walleye Capital LLC acquired a new stake in MacroGenics in the 2nd quarter valued at $30,000. Institutional investors and hedge funds own 96.89% of the company’s stock.

About MacroGenics

MacroGenics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of monoclonal antibody–based therapeutics for the treatment of cancer and autoimmune diseases. The company leverages proprietary Fc engineering technologies to enhance immune engagement and extend the activity of its antibodies. Since its founding in 2000, MacroGenics has advanced several product candidates through clinical trials, most notably margetuximab, a HER2-targeted antibody designed to improve outcomes in patients with HER2-positive breast cancer.

Central to MacroGenics’ research platform are its ADAPTIR and Trident bispecific antibody technologies.