MacroGenics (NASDAQ:MGNX) Shares Gap Up to $14.37

MacroGenics, Inc. (NASDAQ:MGNX) shares gapped up before the market opened on Friday . The stock had previously closed at $14.37, but opened at $15.22. MacroGenics shares last traded at $14.94, with a volume of 63,314 shares changing hands.

Analyst Ratings Changes

MGNX has been the subject of several analyst reports. TheStreet lowered MacroGenics from a “c” rating to a “d” rating in a report on Thursday, March 7th. JMP Securities restated a “market outperform” rating on shares of MacroGenics in a research note on Thursday, April 4th. HC Wainwright lowered MacroGenics from a “buy” rating to a “neutral” rating and raised their target price for the stock from $12.00 to $14.00 in a research note on Wednesday, February 14th. B. Riley began coverage on MacroGenics in a research note on Friday. They issued a “buy” rating and a $25.00 target price for the company. Finally, Barclays raised their target price on MacroGenics from $12.00 to $23.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, MacroGenics has a consensus rating of “Moderate Buy” and an average target price of $18.00.

MacroGenics Trading Up 1.3 %

The company has a market capitalization of $910.87 million, a price-to-earnings ratio of -89.81 and a beta of 2.09. The company has a fifty day moving average of $16.79 and a 200-day moving average of $11.89.

MacroGenics (NASDAQ:MGNX) last released its earnings results on Thursday, March 7th. The biopharmaceutical company reported ($0.75) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.49). MacroGenics had a negative return on equity of 88.49% and a negative net margin of 15.42%. The business had revenue of $10.72 million during the quarter, compared to analysts’ expectations of $25.70 million. During the same period last year, the business earned $0.21 earnings per share. As a group, equities research analysts expect that MacroGenics, Inc. will post -2.7 EPS for the current year.

Insiders Place Their Bets

In other MacroGenics news, VP Jeffrey Stuart Peters sold 16,124 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $17.22, for a total value of $277,655.28. Following the transaction, the vice president now directly owns 8,895 shares of the company’s stock, valued at approximately $153,171.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Jeffrey Stuart Peters sold 16,124 shares of MacroGenics stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $17.22, for a total transaction of $277,655.28. Following the sale, the vice president now owns 8,895 shares of the company’s stock, valued at approximately $153,171.90. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Ezio Bonvini sold 13,316 shares of MacroGenics stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $15.00, for a total transaction of $199,740.00. Following the sale, the senior vice president now directly owns 74,668 shares in the company, valued at approximately $1,120,020. The disclosure for this sale can be found here. Insiders have sold 80,835 shares of company stock valued at $1,276,588 in the last ninety days. 11.30% of the stock is currently owned by corporate insiders.

Institutional Trading of MacroGenics

Institutional investors have recently made changes to their positions in the company. AJOVista LLC purchased a new stake in shares of MacroGenics during the 4th quarter valued at approximately $51,000. China Universal Asset Management Co. Ltd. raised its position in MacroGenics by 349.2% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 7,174 shares of the biopharmaceutical company’s stock valued at $69,000 after purchasing an additional 5,577 shares during the period. Sound Income Strategies LLC purchased a new stake in MacroGenics in the first quarter valued at approximately $77,000. SG Americas Securities LLC purchased a new stake in MacroGenics in the third quarter valued at approximately $97,000. Finally, Sherbrooke Park Advisers LLC purchased a new stake in MacroGenics in the third quarter valued at approximately $99,000. Hedge funds and other 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.