MacroGenics, Inc. (NASDAQ:MGNX) Short Interest Update

MacroGenics, Inc. (NASDAQ:MGNXGet Rating) saw a large decrease in short interest during the month of August. As of August 31st, there was short interest totalling 4,910,000 shares, a decrease of 12.9% from the August 15th total of 5,640,000 shares. Currently, 8.2% of the company’s stock are sold short. Based on an average daily trading volume, of 1,290,000 shares, the short-interest ratio is presently 3.8 days.

Wall Street Analysts Forecast Growth

MGNX has been the topic of several analyst reports. HC Wainwright lowered their price objective on MacroGenics from $35.00 to $10.00 and set a “buy” rating on the stock in a research report on Monday, September 12th. Barclays lowered their price target on MacroGenics to $8.00 in a report on Monday, August 15th. BMO Capital Markets lowered MacroGenics from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $31.00 to $4.00 in a research note on Monday, July 11th. Sumitomo Mitsui Financial Group lowered MacroGenics from an “outperform” rating to a “neutral” rating and set a $5.00 price target for the company. in a research note on Monday, July 18th. Finally, SVB Leerink cut their price objective on MacroGenics from $15.00 to $12.00 and set an “outperform” rating for the company in a research report on Tuesday, August 9th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $12.33.

MacroGenics Stock Performance

Shares of MGNX stock opened at $3.45 on Monday. The firm’s 50 day moving average price is $3.98 and its 200-day moving average price is $5.23. MacroGenics has a one year low of $2.13 and a one year high of $22.78. The firm has a market cap of $212.03 million, a P/E ratio of -0.97 and a beta of 1.96.

MacroGenics (NASDAQ:MGNXGet Rating) last released its earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.67) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.97) by $0.30. The company had revenue of $26.01 million for the quarter, compared to analyst estimates of $14.59 million. MacroGenics had a negative net margin of 326.76% and a negative return on equity of 102.68%. As a group, research analysts predict that MacroGenics will post -2.24 EPS for the current fiscal year.

Institutional Investors Weigh In On MacroGenics

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in MacroGenics by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 4,032,239 shares of the biopharmaceutical company’s stock worth $35,524,000 after buying an additional 86,061 shares in the last quarter. State Street Corp increased its position in shares of MacroGenics by 21.7% in the 1st quarter. State Street Corp now owns 3,544,724 shares of the biopharmaceutical company’s stock valued at $31,229,000 after purchasing an additional 632,054 shares during the last quarter. Millennium Management LLC increased its position in shares of MacroGenics by 68.0% in the 2nd quarter. Millennium Management LLC now owns 2,609,562 shares of the biopharmaceutical company’s stock valued at $7,698,000 after purchasing an additional 1,055,927 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of MacroGenics by 43.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,800,663 shares of the biopharmaceutical company’s stock valued at $5,312,000 after purchasing an additional 547,004 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of MacroGenics by 144.3% in the 2nd quarter. Renaissance Technologies LLC now owns 1,430,923 shares of the biopharmaceutical company’s stock valued at $4,221,000 after purchasing an additional 845,211 shares during the last quarter.

About MacroGenics

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MacroGenics, Inc, a biopharmaceutical company, develops 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.

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