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

MacroGenics, Inc. (NASDAQ:MGNX)’s stock price 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 Ratings Changes

MGNX has been the subject of several research reports. BTIG Research upped their target price on shares of MacroGenics from $12.00 to $24.00 and gave the stock a “buy” rating in a research report on Monday, March 4th. TheStreet lowered shares of MacroGenics from a “c” rating to a “d” rating in a research report on Thursday, March 7th. Barclays upped their price target on shares of MacroGenics from $12.00 to $23.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. HC Wainwright lowered shares of MacroGenics from a “buy” rating to a “neutral” rating and upped their price target for the company from $12.00 to $14.00 in a research report on Wednesday, February 14th. Finally, JMP Securities restated a “market outperform” rating on shares of MacroGenics in a research report on Thursday, April 4th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $18.00.

MacroGenics Stock Up 1.3 %

The stock’s fifty day moving average price is $16.68 and its two-hundred day moving average price is $11.98. The company has a market capitalization of $910.87 million, a PE ratio of -91.00 and a beta of 2.09.

MacroGenics (NASDAQ:MGNX) last posted its earnings results on Thursday, March 7th. The biopharmaceutical company reported ($0.75) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.49). The firm had revenue of $10.72 million for 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 prior year, the company posted $0.21 earnings per share. On average, equities research analysts forecast that MacroGenics, Inc. will post -2.7 EPS for the current year.

Insider Transactions at MacroGenics

In other news, VP Jeffrey Stuart Peters sold 51,395 shares of the stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $15.55, for a total transaction of $799,192.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Ezio Bonvini sold 13,316 shares of the stock in a transaction dated 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 transaction, 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 SEC, which is available through this link. Also, VP Jeffrey Stuart Peters sold 51,395 shares of the stock in a transaction dated 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. Over the last ninety days, insiders sold 80,835 shares of company stock worth $1,276,588. Company insiders own 11.30% of the company’s stock.

Hedge Funds Weigh In On MacroGenics

A number of institutional investors have recently bought and sold shares of MGNX. Perceptive Advisors LLC bought a new position in shares of MacroGenics during the fourth quarter valued at approximately $5,887,000. Frazier Life Sciences Management L.P. increased its stake in shares of MacroGenics by 33.2% during the fourth quarter. Frazier Life Sciences Management L.P. now owns 2,401,704 shares of the biopharmaceutical company’s stock valued at $23,104,000 after purchasing an additional 598,500 shares in the last quarter. RA Capital Management L.P. bought a new position in shares of MacroGenics during the third quarter valued at approximately $1,594,000. Bellevue Group AG increased its stake in shares of MacroGenics by 1.5% during the fourth quarter. Bellevue Group AG now owns 9,953,313 shares of the biopharmaceutical company’s stock valued at $95,751,000 after purchasing an additional 150,000 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of MacroGenics during the third quarter valued at approximately $649,000. 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.