MacroGenics, Inc. (NASDAQ:MGNX) Short Interest Update

MacroGenics, Inc. (NASDAQ:MGNX - Get Free Report) was the target of a large increase in short interest in April. As of April 15th, there was short interest totalling 8,600,000 shares, an increase of 33.3% from the March 31st total of 6,450,000 shares. Based on an average daily trading volume, of 1,540,000 shares, the short-interest ratio is currently 5.6 days. Currently, 14.7% of the shares of the stock are sold short.

MacroGenics Stock Up 1.3 %

Shares of NASDAQ MGNX traded up $0.19 during trading hours on Friday, hitting $14.56. The company had a trading volume of 649,535 shares, compared to its average volume of 1,373,357. The stock has a market capitalization of $910.89 million, a P/E ratio of -91.00 and a beta of 2.09. MacroGenics has a 1-year low of $4.29 and a 1-year high of $21.88. The firm's 50 day moving average is $16.68 and its 200-day moving average is $12.07.

MacroGenics (NASDAQ:MGNX - Get Free Report) last released its quarterly earnings data on Thursday, March 7th. The biopharmaceutical company reported ($0.75) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.49). The company had revenue of $10.72 million during the quarter, compared to analyst estimates of $25.70 million. MacroGenics had a negative net margin of 15.42% and a negative return on equity of 88.49%. During the same period in the previous year, the company posted $0.21 EPS. On average, sell-side analysts predict that MacroGenics will post -2.7 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Ezio Bonvini sold 13,316 shares of the company's stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $15.00, for a total transaction of $199,740.00. Following the transaction, the senior vice president now owns 74,668 shares in the company, valued at approximately $1,120,020. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, SVP Ezio Bonvini sold 13,316 shares of the company's stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $15.00, for a total transaction of $199,740.00. Following the transaction, the senior vice president now owns 74,668 shares in the company, valued at approximately $1,120,020. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Jeffrey Stuart Peters sold 16,124 shares of the business'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 sale, the vice president now directly owns 8,895 shares of the company's stock, valued at $153,171.90. The disclosure for this sale can be found here. Insiders have sold a total of 80,835 shares of company stock worth $1,276,588 in the last 90 days. Corporate insiders own 11.30% of the company's stock.

Institutional Investors Weigh In On MacroGenics

A number of large investors have recently added to or reduced their stakes in the business. Diversified Trust Co raised its stake in MacroGenics by 16.0% in the 1st quarter. Diversified Trust Co now owns 13,630 shares of the biopharmaceutical company's stock valued at $201,000 after acquiring an additional 1,880 shares during the period. Principal Financial Group Inc. raised its stake in MacroGenics by 0.9% in the 3rd quarter. Principal Financial Group Inc. now owns 275,550 shares of the biopharmaceutical company's stock valued at $1,284,000 after acquiring an additional 2,335 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in MacroGenics by 7.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 49,337 shares of the biopharmaceutical company's stock worth $475,000 after buying an additional 3,319 shares during the period. Sound Income Strategies LLC bought a new position in MacroGenics during the 1st quarter worth $77,000. Finally, AJOVista LLC bought a new position in MacroGenics during the 4th quarter worth $51,000. Institutional investors own 96.89% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently commented on MGNX. JMP Securities reaffirmed a "market outperform" rating on shares of MacroGenics in a research note on Thursday, April 4th. TD Cowen raised MacroGenics from a "hold" rating to a "buy" rating in a research note on Tuesday, April 9th. HC Wainwright cut MacroGenics from a "buy" rating to a "neutral" rating and upped their price target for the company from $12.00 to $14.00 in a research note on Wednesday, February 14th. Barclays upped 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. Finally, BTIG Research boosted their price objective on MacroGenics from $12.00 to $24.00 and gave the company a "buy" rating in a research report on Monday, March 4th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $18.00.

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.