MacroGenics (NASDAQ:MGNX) Shares Down 10.8%

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

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Barclays boosted their target price on shares of MacroGenics from $12.00 to $23.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. HC Wainwright lowered MacroGenics from a “buy” rating to a “neutral” rating and lifted their target price for the company from $12.00 to $14.00 in a report on Wednesday, February 14th. JMP Securities reaffirmed a “market outperform” rating on shares of MacroGenics in a report on Thursday, April 4th. B. Riley initiated coverage on MacroGenics in a research report on Friday, April 26th. They set a “buy” rating and a $25.00 price objective on the stock. Finally, Stifel Nicolaus cut shares of MacroGenics from a “buy” rating to a “hold” rating and reduced their price target for the company from $29.00 to $7.00 in a research report on Friday. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $15.78.

MacroGenics Price Performance

The company has a 50 day moving average of $16.31 and a two-hundred day moving average of $12.62. The company has a market capitalization of $284.65 million, a PE ratio of -91.69 and a beta of 2.09.

MacroGenics (NASDAQ:MGNX) last issued its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.84) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.17). MacroGenics had a negative net margin of 15.42% and a negative return on equity of 88.49%. The business had revenue of $9.10 million for the quarter, compared to analysts’ expectations of $13.63 million. On average, equities analysts anticipate that MacroGenics, Inc. will post -2.7 EPS for the current year.

Insider Transactions at MacroGenics

In other news, VP Jeffrey Stuart Peters sold 51,395 shares of the business’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $15.55, for a total value of $799,192.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 11.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of MGNX. ProShare Advisors LLC grew its stake in shares of MacroGenics by 8.9% during the 1st quarter. ProShare Advisors LLC now owns 15,282 shares of the biopharmaceutical company’s stock valued at $225,000 after purchasing an additional 1,246 shares during the period. Susquehanna Fundamental Investments LLC raised its position in MacroGenics by 597.4% in the first quarter. Susquehanna Fundamental Investments LLC now owns 105,787 shares of the biopharmaceutical company’s stock worth $1,557,000 after acquiring an additional 90,619 shares during the period. Swiss National Bank purchased a new position in shares of MacroGenics during the 1st quarter worth $1,351,000. Mirae Asset Global Investments Co. Ltd. grew its position in shares of MacroGenics by 15.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 57,060 shares of the biopharmaceutical company’s stock valued at $840,000 after acquiring an additional 7,723 shares during the period. Finally, Principal Financial Group Inc. increased its stake in shares of MacroGenics by 28.6% in the 1st quarter. Principal Financial Group Inc. now owns 344,603 shares of the biopharmaceutical company’s stock worth $5,073,000 after purchasing an additional 76,727 shares in the last quarter. Institutional investors own 96.89% of the company’s stock.

MacroGenics Company Profile

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.