MacroGenics (NASDAQ:MGNX) Shares Up 4.7%

MacroGenics, Inc. (NASDAQ:MGNX - Get Free Report) shares were up 4.7% on Friday . The stock traded as high as $18.71 and last traded at $18.61. Approximately 501,206 shares were traded during mid-day trading, a decline of 66% from the average daily volume of 1,473,904 shares. The stock had previously closed at $17.78.

Analyst Ratings Changes

Several equities analysts have recently weighed in on MGNX shares. Barclays lifted their target price on shares of MacroGenics from $12.00 to $23.00 and gave the stock an "overweight" rating in a research note on Thursday, February 29th. HC Wainwright lowered shares of MacroGenics from a "buy" rating to a "neutral" rating and raised their price objective for the company from $12.00 to $14.00 in a research report on Wednesday, February 14th. JMP Securities restated a "market outperform" rating on shares of MacroGenics in a research report on Thursday. Citigroup upgraded shares of MacroGenics from a "neutral" rating to a "buy" rating and raised their price objective for the company from $7.00 to $13.00 in a research report on Wednesday, December 20th. Finally, BTIG Research raised their price objective on shares of 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 six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $17.00.

MacroGenics Stock Up 2.6 %

The firm has a market capitalization of $1.14 billion, a P/E ratio of -114.00 and a beta of 2.09. The firm's 50-day simple moving average is $16.64 and its 200-day simple moving average is $10.74.

MacroGenics (NASDAQ:MGNX - Get Free Report) last announced 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). The company had revenue of $10.72 million for the quarter, compared to the consensus estimate 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 quarter in the previous year, the firm earned $0.21 earnings per share. As a group, analysts expect that MacroGenics, Inc. will post -2.79 EPS for the current fiscal year.

Insider Transactions at MacroGenics

In other news, SVP Ezio Bonvini sold 13,316 shares of the business's stock in a transaction that occurred on Thursday, February 1st. The shares were 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 directly owns 74,668 shares in the company, valued at approximately $1,120,020. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, VP Jeffrey Stuart Peters sold 16,124 shares of MacroGenics stock in a transaction 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 $153,171.90. The sale was disclosed in a legal 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 on Thursday, February 1st. The stock was sold at an average price of $15.00, for a total transaction of $199,740.00. Following the completion of the transaction, the senior vice president now directly owns 74,668 shares in the company, valued at $1,120,020. The disclosure for this sale can be found here. In the last ninety days, insiders sold 42,756 shares of company stock worth $637,187. 10.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Point72 Middle East FZE purchased a new position in shares of MacroGenics in the fourth quarter worth $28,000. AJOVista LLC purchased a new position in MacroGenics during the 4th quarter valued at $51,000. Royal Bank of Canada increased its position in MacroGenics by 57.1% during the 2nd quarter. Royal Bank of Canada now owns 5,922 shares of the biopharmaceutical company's stock valued at $32,000 after purchasing an additional 2,153 shares during the period. China Universal Asset Management Co. Ltd. increased its position in MacroGenics by 349.2% during the 4th 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. Finally, Tower Research Capital LLC TRC increased its position in MacroGenics by 74.1% during the 3rd quarter. Tower Research Capital LLC TRC now owns 8,524 shares of the biopharmaceutical company's stock valued at $40,000 after purchasing an additional 3,628 shares during the period. 96.89% of the stock is owned by hedge funds and other institutional investors.

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.