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.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC increased its stake in shares of MacroGenics by 9.4% during the fourth quarter. Geode Capital Management LLC now owns 455,874 shares of the biopharmaceutical company’s stock valued at $5,789,000 after purchasing an additional 39,246 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of MacroGenics by 38.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 808,201 shares of the biopharmaceutical company’s stock valued at $10,264,000 after purchasing an additional 225,690 shares in the last quarter. Sofinnova Investments Inc. bought a new position in shares of MacroGenics during the fourth quarter valued at approximately $4,228,000. 683 Capital Management LLC increased its stake in shares of MacroGenics by 14.7% during the fourth quarter. 683 Capital Management LLC now owns 384,970 shares of the biopharmaceutical company’s stock valued at $4,889,000 after purchasing an additional 49,336 shares in the last quarter. Finally, Millennium Management LLC increased its stake in shares of MacroGenics by 13.5% during the fourth quarter. Millennium Management LLC now owns 257,680 shares of the biopharmaceutical company’s stock valued at $3,273,000 after purchasing an additional 30,622 shares in the last quarter. 87.05% of the stock is owned by institutional investors and hedge funds.

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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