MacroGenics (NASDAQ:MGNX) Shares Down 3.6%

MacroGenics, Inc. (NASDAQ:MGNX - Get Free Report)'s stock price was down 3.6% on Thursday . The stock traded as low as $14.40 and last traded at $14.42. Approximately 30,770 shares changed hands during trading, a decline of 98% from the average daily volume of 1,400,054 shares. The stock had previously closed at $14.96.

Analysts Set New Price Targets

Several analysts recently commented on the stock. HC Wainwright cut shares of MacroGenics from a "buy" rating to a "neutral" rating and raised their price target for the stock from $12.00 to $14.00 in a report on Wednesday, February 14th. Citigroup raised shares of MacroGenics from a "neutral" rating to a "buy" rating and upped their price target for the stock from $7.00 to $13.00 in a research note on Wednesday, December 20th. BTIG Research lifted 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. Barclays lifted their price target on MacroGenics from $12.00 to $23.00 and gave the company an "overweight" rating in a report on Thursday, February 29th. Finally, TheStreet downgraded MacroGenics from a "c" rating to a "d" rating in a report on Thursday, March 7th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $17.00.

MacroGenics Stock Performance

The company's 50 day moving average is $16.29 and its 200 day moving average is $10.30. The stock has a market capitalization of $918.97 million, a price-to-earnings ratio of -92.00 and a beta of 2.12.

MacroGenics (NASDAQ:MGNX - Get Free Report) last announced its quarterly earnings data on Thursday, March 7th. The biopharmaceutical company reported ($0.75) EPS for the quarter, missing analysts' consensus estimates of ($0.26) by ($0.49). The company had revenue of $10.72 million for 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 prior year, the company posted $0.21 EPS. On average, equities research analysts anticipate that MacroGenics, Inc. will post -2.79 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other MacroGenics news, VP Jeffrey Stuart Peters sold 16,124 shares of MacroGenics stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $17.22, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Ezio Bonvini sold 13,316 shares of the 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 completion of the sale, 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 Securities & Exchange Commission, which is available at the SEC website. Also, VP Jeffrey Stuart Peters sold 16,124 shares of the business's stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $17.22, for a total transaction of $277,655.28. Following the completion of the transaction, the vice president now owns 8,895 shares in the company, valued at $153,171.90. The disclosure for this sale can be found here. Insiders have sold 42,756 shares of company stock worth $637,187 over the last 90 days. Corporate insiders own 10.00% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. GSA Capital Partners LLP grew its holdings in MacroGenics by 74.9% during the third quarter. GSA Capital Partners LLP now owns 225,918 shares of the biopharmaceutical company's stock valued at $1,053,000 after purchasing an additional 96,760 shares during the period. Los Angeles Capital Management LLC acquired a new position in MacroGenics during the third quarter worth approximately $281,000. Silverarc Capital Management LLC raised its stake in MacroGenics by 4.0% in the 3rd quarter. Silverarc Capital Management LLC now owns 1,264,158 shares of the biopharmaceutical company's stock valued at $5,891,000 after acquiring an additional 48,483 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of MacroGenics by 32.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 194,204 shares of the biopharmaceutical company's stock worth $905,000 after buying an additional 48,118 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of MacroGenics in the third quarter valued at approximately $649,000. 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.