Insider Selling: MacroGenics (NASDAQ:MGNX) VP Sells 31,105 Shares of Stock

Key Points

• MacroGenics VP Jeffrey Stuart Peters sold 31,105 shares at an average price of $4.15, generating $129,085.75. The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan.
• MacroGenics shares recently traded near $4.07, with a market capitalization of approximately $259 million and a 52-week range of $1.29 to $5.08. The company’s latest quarterly earnings beat estimates, but revenue fell short of expectations.
• Analyst sentiment remains mixed, with a consensus rating of Hold and an average price target of $6.33; B. Riley raised its target to $11 and maintained a Buy rating. Institutional investors own approximately 96.89% of the company.

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

MacroGenics Price Performance

Shares of MacroGenics stock traded down $0.10 during midday trading on Thursday, hitting $4.07. 381,814 shares of the company were exchanged, compared to its average volume of 1,043,859. The firm has a 50 day simple moving average of $4.24 and a 200-day simple moving average of $3.44. The firm has a market cap of $259.26 million, a P/E ratio of -18.50 and a beta of 1.20. MacroGenics, Inc. has a 52 week low of $1.29 and a 52 week high of $5.08.

MacroGenics (NASDAQ:MGNX - Get Free Report) last announced its quarterly earnings results on Thursday, August 13th. The biopharmaceutical company reported $0.31 earnings per share for the quarter, beating analysts' consensus estimates of ($0.08) by $0.39. MacroGenics had a negative return on equity of 109.26% and a negative net margin of 8.70%.The firm had revenue of $32.83 million for the quarter, compared to analysts' expectations of $59.14 million. Equities research analysts expect that MacroGenics, Inc. will post -1.48 earnings per share for the current year.

Institutional Investors Weigh In On MacroGenics

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Wasatch Advisors LP increased its position in MacroGenics by 29.4% in the second quarter. Wasatch Advisors LP now owns 2,018,881 shares of the biopharmaceutical company's stock worth $9,327,000 after purchasing an additional 459,180 shares during the period. GSA Capital Partners LLP lifted its position in MacroGenics by 740.5% during the 4th quarter. GSA Capital Partners LLP now owns 511,004 shares of the biopharmaceutical company's stock valued at $823,000 after purchasing an additional 450,203 shares during the period. Jefferies Financial Group Inc. acquired a new position in MacroGenics during the 4th quarter valued at about $2,964,000. Armistice Capital LLC boosted its stake in shares of MacroGenics by 6.1% in the 4th quarter. Armistice Capital LLC now owns 6,324,000 shares of the biopharmaceutical company's stock valued at $10,182,000 after purchasing an additional 364,000 shares during the last quarter. Finally, Headlands Technologies LLC boosted its stake in shares of MacroGenics by 108.7% in the 2nd quarter. Headlands Technologies LLC now owns 99,188 shares of the biopharmaceutical company's stock valued at $458,000 after purchasing an additional 51,657 shares during the last quarter. Institutional investors own 96.89% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on MGNX shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of MacroGenics in a research report on Wednesday, August 5th. B. Riley Financial boosted their price target on shares of MacroGenics from $9.00 to $11.00 and gave the company a "buy" rating in a research report on Monday. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, MacroGenics has a consensus rating of "Hold" and an average target price of $6.33.

MacroGenics Company Profile

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.

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