MacroGenics (NASDAQ:MGNX) Trading Down 9%

MacroGenics, Inc. (NASDAQ:MGNX - Get Free Report)'s stock price fell 9% on Thursday . The stock traded as low as $14.23 and last traded at $14.29. 323,553 shares were traded during trading, a decline of 77% from the average session volume of 1,409,229 shares. The stock had previously closed at $15.70.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MGNX. TD Cowen upgraded shares of MacroGenics from a "hold" rating to a "buy" rating in a research report on Tuesday, April 9th. JMP Securities restated a "market outperform" rating on shares of MacroGenics in a research report on Thursday, April 4th. BTIG Research raised their target price on shares of MacroGenics from $12.00 to $24.00 and gave the stock a "buy" rating in a report on Monday, March 4th. HC Wainwright cut shares of MacroGenics from a "buy" rating to a "neutral" rating and raised their target price for the stock from $12.00 to $14.00 in a report on Wednesday, February 14th. Finally, TheStreet cut shares of MacroGenics from a "c" rating to a "d" rating in a report on Thursday, March 7th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $17.00.

MacroGenics Stock Down 8.5 %

The business's 50-day moving average price is $16.79 and its 200-day moving average price is $11.89. The firm has a market capitalization of $898.99 million, a PE ratio of -89.81 and a beta of 2.09.

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

Insider Transactions at MacroGenics

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 shares were 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 in the company, valued at $153,171.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other MacroGenics 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 of the company's stock, valued at $1,120,020. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Jeffrey Stuart Peters sold 16,124 shares of the business's 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 completion of 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 sold 80,835 shares of company stock valued at $1,276,588 over the last three months. 11.30% of the stock is owned by corporate insiders.

Institutional Trading of MacroGenics

Several large investors have recently modified their holdings of the company. Bellevue Group AG boosted its holdings in shares of MacroGenics by 1.5% during the 4th quarter. Bellevue Group AG now owns 9,953,313 shares of the biopharmaceutical company's stock worth $95,751,000 after buying an additional 150,000 shares during the period. Vanguard Group Inc. boosted its holdings in shares of MacroGenics by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 4,414,924 shares of the biopharmaceutical company's stock worth $20,574,000 after buying an additional 36,396 shares during the period. Frazier Life Sciences Management L.P. boosted its holdings in shares of MacroGenics by 33.2% during the 4th quarter. Frazier Life Sciences Management L.P. now owns 2,401,704 shares of the biopharmaceutical company's stock worth $23,104,000 after buying an additional 598,500 shares during the period. Acadian Asset Management LLC boosted its holdings in shares of MacroGenics by 7.8% during the 3rd quarter. Acadian Asset Management LLC now owns 1,371,396 shares of the biopharmaceutical company's stock worth $6,388,000 after buying an additional 99,755 shares during the period. Finally, Silverarc Capital Management LLC boosted its holdings in shares of MacroGenics by 4.0% during the 3rd quarter. Silverarc Capital Management LLC now owns 1,264,158 shares of the biopharmaceutical company's stock worth $5,891,000 after buying an additional 48,483 shares during the period. 96.89% of the stock is owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.