Short Interest in MacroGenics Inc (MGNX) Rises By 33.4%
MacroGenics Inc (NASDAQ:MGNX) was the target of a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 3,213,840 shares, an increase of 33.4% from the February 15th total of 2,409,285 shares. Based on an average daily trading volume, of 1,425,380 shares, the short-interest ratio is currently 2.3 days. Approximately 7.5% of the company’s shares are short sold.
Several brokerages have recently commented on MGNX. Citigroup raised shares of MacroGenics from a “sell” rating to a “buy” rating and upped their price objective for the company from $10.00 to $39.00 in a research note on Thursday, February 7th. SunTrust Banks increased their price target on shares of MacroGenics to $40.00 and gave the stock a “buy” rating in a research note on Thursday, February 7th. Wedbush downgraded shares of MacroGenics from an “outperform” rating to a “neutral” rating in a research note on Thursday, February 7th. ValuEngine raised shares of MacroGenics from a “buy” rating to a “strong-buy” rating in a research note on Thursday, February 7th. Finally, HC Wainwright reissued a “buy” rating and issued a $39.00 price target (up from $34.00) on shares of MacroGenics in a research note on Wednesday, February 6th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the stock. MacroGenics presently has an average rating of “Buy” and an average price target of $31.78.
In other MacroGenics news, Director Matthew K. Fust sold 6,924 shares of the company’s stock in a transaction dated Wednesday, February 6th. The shares were sold at an average price of $29.38, for a total transaction of $203,427.12. Following the completion of the sale, the director now directly owns 7,424 shares in the company, valued at $218,117.12. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Thomas Spitznagel sold 1,770 shares of the company’s stock in a transaction dated Wednesday, February 6th. The shares were sold at an average price of $30.00, for a total transaction of $53,100.00. Following the sale, the senior vice president now owns 1,770 shares of the company’s stock, valued at $53,100. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,762 shares of company stock valued at $258,567. Company insiders own 8.82% of the company’s stock.
Shares of NASDAQ MGNX opened at $19.13 on Friday. MacroGenics has a fifty-two week low of $9.87 and a fifty-two week high of $32.32. The company has a market cap of $933.16 million, a price-to-earnings ratio of -4.57 and a beta of 3.02.
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MacroGenics Company Profile
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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