MacroGenics (NASDAQ:MGNX) Trading Down 10.8%

MacroGenics, Inc. (NASDAQ:MGNX - Get Free Report) shares fell 10.8% on Wednesday . The stock traded as low as $14.29 and last traded at $14.31. 500,731 shares changed hands during mid-day trading, a decline of 63% from the average session volume of 1,342,682 shares. The stock had previously closed at $16.05.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. TD Cowen upgraded shares of MacroGenics from a "hold" rating to a "buy" rating in a research note on Tuesday, April 9th. B. Riley started coverage on MacroGenics in a report on Friday, April 26th. They issued a "buy" rating and a $25.00 price target for the company. JMP Securities reissued a "market outperform" rating on shares of MacroGenics in a report on Thursday, April 4th. 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. Finally, TheStreet cut shares of MacroGenics from a "c" rating to a "d" rating in a research note on Thursday, March 7th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $18.00.

MacroGenics Stock Down 8.7 %

The company has a market capitalization of $917.14 million, a PE ratio of -91.63 and a beta of 2.09. The firm's 50-day moving average is $16.38 and its 200-day moving average is $12.61.

MacroGenics (NASDAQ:MGNX - Get Free Report) last posted its quarterly earnings data 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 firm 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 quarter in the previous year, the company posted $0.21 earnings per share. As a group, equities research analysts predict that MacroGenics, Inc. will post -2.7 EPS for the current year.

Insider Transactions at MacroGenics

In other MacroGenics news, VP Jeffrey Stuart Peters sold 16,124 shares of the company'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 sale, the vice president now directly owns 8,895 shares in the company, valued at $153,171.90. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 11.30% of the company's stock.

Institutional Trading of MacroGenics

Several hedge funds and other institutional investors have recently bought and sold shares of MGNX. AJOVista LLC bought a new stake in shares of MacroGenics in the fourth quarter worth about $51,000. China Universal Asset Management Co. Ltd. increased its stake in shares of MacroGenics by 349.2% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 7,174 shares of the biopharmaceutical company's stock valued at $69,000 after buying an additional 5,577 shares during the period. Sound Income Strategies LLC bought a new position in shares of MacroGenics during the first quarter valued at approximately $77,000. SG Americas Securities LLC purchased a new stake in MacroGenics in the third quarter worth $97,000. Finally, Sherbrooke Park Advisers LLC bought a new stake in MacroGenics in the third quarter valued at $99,000. 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.