MacroGenics, Inc. (NASDAQ:MGNX) Short Interest Up 33.3% in April

MacroGenics, Inc. (NASDAQ:MGNX) saw a large growth in short interest in the month of April. As of April 15th, there was short interest totalling 8,600,000 shares, a growth of 33.3% from the March 31st total of 6,450,000 shares. Based on an average daily volume of 1,540,000 shares, the short-interest ratio is presently 5.6 days. Currently, 14.7% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

MGNX has been the topic of a number of recent analyst reports. Barclays increased their price target on MacroGenics from $12.00 to $23.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. BTIG Research boosted their price target on shares of MacroGenics from $12.00 to $24.00 and gave the stock a “buy” rating in a report on Monday, March 4th. TheStreet cut MacroGenics from a “c” rating to a “d” rating in a report on Thursday, March 7th. B. Riley began coverage on shares of MacroGenics in a research report on Friday. They issued a “buy” rating and a $25.00 target price for the company. Finally, TD Cowen upgraded shares of MacroGenics from a “hold” rating to a “buy” rating in a research report on Tuesday, April 9th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $18.00.

Insiders Place Their Bets

In other news, SVP Ezio Bonvini sold 13,316 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was 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 owns 74,668 shares of the company’s stock, valued at approximately $1,120,020. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other MacroGenics news, SVP Ezio Bonvini sold 13,316 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $15.00, for a total value of $199,740.00. Following the sale, the senior vice president now owns 74,668 shares in the company, valued at approximately $1,120,020. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Jeffrey Stuart Peters sold 51,395 shares of the business’s stock in a transaction on Thursday, April 4th. The shares were 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 have 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

Hedge funds and other institutional investors have recently bought and sold shares of the business. Sound Income Strategies LLC purchased a new position in shares of MacroGenics in the 1st quarter valued at approximately $77,000. AJOVista LLC purchased a new position in MacroGenics in the 4th quarter valued at $51,000. China Universal Asset Management Co. Ltd. grew its position in MacroGenics by 349.2% in the 4th 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 last quarter. Diversified Trust Co increased its stake in MacroGenics by 16.0% in the 1st quarter. Diversified Trust Co now owns 13,630 shares of the biopharmaceutical company’s stock valued at $201,000 after buying an additional 1,880 shares during the period. Finally, Jump Financial LLC purchased a new position in MacroGenics during the 4th quarter worth $135,000. 96.89% of the stock is owned by hedge funds and other institutional investors.

MacroGenics Trading Down 0.3 %

Shares of MGNX stock traded down $0.04 on Tuesday, reaching $14.78. 718,955 shares of the stock were exchanged, compared to its average volume of 1,391,883. The company has a market capitalization of $924.64 million, a price-to-earnings ratio of -93.06 and a beta of 2.10. The business’s 50 day moving average price is $16.63 and its 200 day moving average price is $12.14. MacroGenics has a twelve month low of $4.29 and a twelve month high of $21.88.

MacroGenics (NASDAQ:MGNX) last released its quarterly earnings data on Thursday, March 7th. The biopharmaceutical company reported ($0.75) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.49). The company had revenue of $10.72 million during the quarter, compared to analyst estimates of $25.70 million. MacroGenics had a negative net margin of 15.42% and a negative return on equity of 88.49%. During the same quarter in the prior year, the company earned $0.21 EPS. Equities research analysts forecast that MacroGenics will post -2.7 earnings per share for the current year.

About MacroGenics

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.