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

MacroGenics, Inc. (NASDAQ:MGNX - Get Free Report)'s share price 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 trading hands.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Barclays raised their price target on MacroGenics from $12.00 to $23.00 and gave the company an "overweight" rating in a research note on Thursday, February 29th. TD Cowen upgraded MacroGenics from a "hold" rating to a "buy" rating in a research note on Tuesday, April 9th. BTIG Research raised their price target on MacroGenics from $12.00 to $24.00 and gave the company a "buy" rating in a research note on Monday, March 4th. B. Riley assumed coverage on MacroGenics in a research note on Friday. They set a "buy" rating and a $25.00 price target on the stock. Finally, HC Wainwright lowered MacroGenics from a "buy" rating to a "neutral" rating and raised their price target for the company from $12.00 to $14.00 in a research note on Wednesday, February 14th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $18.00.

MacroGenics Stock Up 1.3 %

The firm has a 50 day simple moving average of $16.73 and a 200-day simple moving average of $11.91. The company has a market cap of $910.87 million, a PE ratio of -91.00 and a beta of 2.09.

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

Insider Buying and Selling at MacroGenics

In other MacroGenics news, VP Jeffrey Stuart Peters sold 16,124 shares of the firm's stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $17.22, for a total value of $277,655.28. Following the completion of the sale, the vice president now owns 8,895 shares of the company's stock, valued at $153,171.90. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other MacroGenics news, SVP Ezio Bonvini sold 13,316 shares of the firm's stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $15.00, for a total value of $199,740.00. Following the completion of the sale, the senior vice president now owns 74,668 shares of the company's stock, valued at $1,120,020. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Jeffrey Stuart Peters sold 16,124 shares of the firm's stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $17.22, for a total value of $277,655.28. Following the completion of the sale, the vice president now directly owns 8,895 shares of the company's stock, valued at approximately $153,171.90. The disclosure for this sale can be found here. Insiders have sold 80,835 shares of company stock worth $1,276,588 over the last quarter. Insiders own 11.30% of the company's stock.

Institutional Investors Weigh In On MacroGenics

Institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new stake in shares of MacroGenics during the third quarter worth about $97,000. Strs Ohio lifted its holdings in shares of MacroGenics by 59.7% during the third quarter. Strs Ohio now owns 112,400 shares of the biopharmaceutical company's stock worth $523,000 after purchasing an additional 42,000 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of MacroGenics by 0.9% during the third quarter. Principal Financial Group Inc. now owns 275,550 shares of the biopharmaceutical company's stock worth $1,284,000 after purchasing an additional 2,335 shares during the period. Los Angeles Capital Management LLC acquired a new stake in shares of MacroGenics during the third quarter worth about $281,000. Finally, Barclays PLC lifted its holdings in shares of MacroGenics by 15.2% during the third quarter. Barclays PLC now owns 134,273 shares of the biopharmaceutical company's stock worth $624,000 after purchasing an additional 17,733 shares during the period. Institutional investors and hedge funds own 96.89% of the company's stock.

About MacroGenics

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.