MacroGenics (NASDAQ:MGNX) Shares Gap Up to $14.37

Shares of MacroGenics, Inc. (NASDAQ:MGNX) gapped up prior to trading on Friday . The stock had previously closed at $14.37, but opened at $15.22. MacroGenics shares last traded at $14.94, with a volume of 63,314 shares traded.

Analyst Upgrades and Downgrades

Several analysts have commented 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. JMP Securities reiterated a “market outperform” rating on shares of MacroGenics in a report on Thursday, April 4th. TheStreet lowered shares of MacroGenics from a “c” rating to a “d” rating in a report on Thursday, March 7th. BTIG Research boosted their price objective on shares of MacroGenics from $12.00 to $24.00 and gave the stock a “buy” rating in a report on Monday, March 4th. Finally, HC Wainwright lowered shares of MacroGenics from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $12.00 to $14.00 in a report on Wednesday, February 14th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, MacroGenics has a consensus rating of “Moderate Buy” and an average target price of $18.00.

MacroGenics Trading Up 1.3 %

The stock has a market cap of $910.87 million, a P/E ratio of -89.81 and a beta of 2.09. The firm’s 50-day simple moving average is $16.79 and its 200 day simple moving average is $11.89.

MacroGenics (NASDAQ:MGNX) last posted its earnings results on Thursday, March 7th. The biopharmaceutical company reported ($0.75) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.49). The firm had revenue of $10.72 million during the quarter, compared to the consensus estimate 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 last year, the company posted $0.21 EPS. On average, analysts anticipate that MacroGenics, Inc. will post -2.7 EPS for the current 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 transaction of $199,740.00. Following the sale, the senior vice president now owns 74,668 shares in the company, valued at $1,120,020. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Ezio Bonvini sold 13,316 shares of the stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $15.00, for a total transaction of $199,740.00. Following the transaction, the senior vice president now 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 accessible through the SEC website. Also, VP Jeffrey Stuart Peters sold 51,395 shares of the company’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $15.55, for a total transaction of $799,192.25. The disclosure for this sale can be found here. In the last three months, insiders sold 80,835 shares of company stock valued at $1,276,588. Company insiders own 11.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. AJOVista LLC bought a new position in MacroGenics in the fourth quarter valued at approximately $51,000. China Universal Asset Management Co. Ltd. increased its holdings in 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 worth $69,000 after buying an additional 5,577 shares during the last quarter. Sound Income Strategies LLC acquired a new position in MacroGenics during the first quarter worth $77,000. SG Americas Securities LLC acquired a new position in shares of MacroGenics in the third quarter valued at $97,000. Finally, Sherbrooke Park Advisers LLC acquired a new position in shares of 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.