MacroGenics Inc. (NASDAQ:MGNX) VP Lynn Cilinski sold 6,231 shares of the business’s stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $29.28, for a total transaction of $182,443.68. Following the completion of the sale, the vice president now directly owns 8,154 shares of the company’s stock, valued at $238,749.12. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.
MacroGenics Inc. (NASDAQ:MGNX) traded up 2.84% on Wednesday, hitting $30.06. 127,153 shares of the company traded hands. The firm’s market capitalization is $1.04 billion. MacroGenics Inc. has a 12 month low of $14.84 and a 12 month high of $36.11. The stock’s 50-day moving average is $30.31 and its 200 day moving average is $25.69.
MacroGenics (NASDAQ:MGNX) last released its quarterly earnings data on Wednesday, August 3rd. The biopharmaceutical company reported $1.12 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $1.14. MacroGenics had a negative net margin of 31.77% and a negative return on equity of 10.65%. The firm earned $80.67 million during the quarter, compared to analysts’ expectations of $27.22 million. During the same period last year, the business earned ($0.71) earnings per share. MacroGenics’s revenue was up 1100.4% compared to the same quarter last year. Equities analysts forecast that MacroGenics Inc. will post ($1.30) EPS for the current fiscal year.
Several research firms have issued reports on MGNX. Citigroup Inc. cut shares of MacroGenics from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $27.00 to $32.00 in a research report on Thursday, August 4th. TheStreet raised shares of MacroGenics from a “sell” rating to a “hold” rating in a research report on Friday, August 5th. Cowen and Company began coverage on shares of MacroGenics in a research report on Wednesday, September 7th. They issued an “outperform” rating for the company. Zacks Investment Research raised shares of MacroGenics from a “sell” rating to a “hold” rating in a research report on Wednesday, July 20th. Finally, Morgan Stanley restated a “hold” rating on shares of MacroGenics in a report on Thursday, June 30th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. MacroGenics has a consensus rating of “Buy” and a consensus price target of $38.71.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC raised its position in shares of MacroGenics by 40.6% in the second quarter. FMR LLC now owns 4,977,997 shares of the biopharmaceutical company’s stock valued at $134,356,000 after buying an additional 1,438,175 shares during the period. BB Biotech AG bought a new position in shares of MacroGenics during the second quarter valued at $14,035,000. Point72 Asset Management L.P. raised its position in shares of MacroGenics by 9.6% in the second quarter. Point72 Asset Management L.P. now owns 2,554,900 shares of the biopharmaceutical company’s stock valued at $68,957,000 after buying an additional 224,700 shares during the period. Cormorant Asset Management LLC raised its position in shares of MacroGenics by 40.0% in the first quarter. Cormorant Asset Management LLC now owns 700,000 shares of the biopharmaceutical company’s stock valued at $13,125,000 after buying an additional 200,000 shares during the period. Finally, BVF Inc. IL bought a new position in shares of MacroGenics during the second quarter valued at $5,398,000. 80.97% of the stock is owned by institutional investors.
MacroGenics, Inc is a clinical-stage biopharmaceutical company focused on discovering and developing monoclonal antibody-based therapeutics for the treatment of cancer, as well as various autoimmune disorders and infectious diseases. The Company operates through developing monoclonal antibody-based therapeutics for cancer, autoimmune and infectious diseases segment.
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