Shares of MacroGenics Inc (NASDAQ:MGNX) saw strong trading volume on Tuesday . 787,518 shares changed hands during mid-day trading, an increase of 163% from the previous session’s volume of 299,821 shares.The stock last traded at $16.79 and had previously closed at $16.53.
Several equities analysts have recently issued reports on the stock. ValuEngine downgraded shares of MacroGenics from a “buy” rating to a “hold” rating in a report on Thursday, September 6th. Zacks Investment Research downgraded shares of MacroGenics from a “buy” rating to a “hold” rating in a report on Wednesday, October 17th. BidaskClub upgraded shares of MacroGenics from a “sell” rating to a “hold” rating in a report on Saturday, August 11th. BTIG Research assumed coverage on shares of MacroGenics in a report on Monday, September 10th. They set a “buy” rating and a $30.00 price objective on the stock. Finally, HC Wainwright restated a “buy” rating and set a $34.00 price objective on shares of MacroGenics in a report on Wednesday, August 8th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $30.38.
The firm has a market cap of $717.61 million, a PE ratio of -31.09 and a beta of 2.49.
MacroGenics (NASDAQ:MGNX) last posted its quarterly earnings data on Tuesday, August 7th. The biopharmaceutical company reported ($1.03) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.20) by $0.17. MacroGenics had a negative net margin of 19.20% and a negative return on equity of 13.01%. The firm had revenue of $18.83 million for the quarter, compared to the consensus estimate of $4.41 million. On average, sell-side analysts forecast that MacroGenics Inc will post -4.66 earnings per share for the current year.
Several institutional investors and hedge funds have recently bought and sold shares of the company. State Board of Administration of Florida Retirement System increased its holdings in shares of MacroGenics by 16.0% during the second quarter. State Board of Administration of Florida Retirement System now owns 20,497 shares of the biopharmaceutical company’s stock valued at $423,000 after acquiring an additional 2,830 shares in the last quarter. Metropolitan Life Insurance Co. NY boosted its position in MacroGenics by 33.7% in the second quarter. Metropolitan Life Insurance Co. NY now owns 13,178 shares of the biopharmaceutical company’s stock valued at $272,000 after buying an additional 3,323 shares during the last quarter. Rhumbline Advisers boosted its position in MacroGenics by 11.4% in the second quarter. Rhumbline Advisers now owns 37,119 shares of the biopharmaceutical company’s stock valued at $767,000 after buying an additional 3,804 shares during the last quarter. MetLife Investment Advisors LLC boosted its position in MacroGenics by 26.1% in the second quarter. MetLife Investment Advisors LLC now owns 18,661 shares of the biopharmaceutical company’s stock valued at $385,000 after buying an additional 3,858 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its position in MacroGenics by 33.7% in the second quarter. Russell Investments Group Ltd. now owns 22,200 shares of the biopharmaceutical company’s stock valued at $458,000 after buying an additional 5,600 shares during the last quarter. Hedge funds and other institutional investors own 90.93% of the company’s stock.
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MacroGenics Company Profile (NASDAQ:MGNX)
MacroGenics, Inc, a biopharmaceutical company, focuses on the discovery and development of antibody-based therapeutics for the treatment of cancer primarily by modulating the human immune system, as well as various autoimmune disorders and infectious diseases in the United States. The company's advanced clinical product candidate is Margetuximab, a monoclonal antibody, which is in Phase III clinical trial that targets human epidermal growth factor receptor 2-expressing tumors, such as various breast and gastroesophageal cancers.
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