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

MacroGenics, Inc. (NASDAQ:MGNX) was the recipient of a large increase in short interest in April. As of April 15th, there was short interest totalling 8,600,000 shares, an increase 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 days-to-cover ratio is currently 5.6 days. Currently, 14.7% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on MGNX shares. HC Wainwright cut MacroGenics from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $12.00 to $14.00 in a research note on Wednesday, February 14th. TheStreet downgraded shares of MacroGenics from a “c” rating to a “d” rating in a research report on Thursday, March 7th. TD Cowen raised MacroGenics from a “hold” rating to a “buy” rating in a report on Tuesday, April 9th. BTIG Research lifted their target price on MacroGenics from $12.00 to $24.00 and gave the company a “buy” rating in a research note on Monday, March 4th. Finally, Barclays lifted their price objective 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. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, MacroGenics currently has an average rating of “Moderate Buy” and an average target price of $18.00.

MacroGenics Stock Performance

MGNX traded down $0.04 during trading on Tuesday, reaching $14.78. The company had a trading volume of 718,955 shares, compared to its average volume of 1,391,883. The firm’s 50-day simple moving average is $16.63 and its 200 day simple moving average is $12.14. The company has a market cap of $924.64 million, a price-to-earnings ratio of -93.06 and a beta of 2.10. MacroGenics has a 12-month low of $4.29 and a 12-month high of $21.88.

MacroGenics (NASDAQ:MGNX) last released its earnings results on Thursday, March 7th. The biopharmaceutical company reported ($0.75) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.49). MacroGenics had a negative return on equity of 88.49% and a negative net margin of 15.42%. The firm had revenue of $10.72 million during the quarter, compared to analysts’ expectations of $25.70 million. During the same period last year, the business earned $0.21 earnings per share. On average, sell-side analysts expect that MacroGenics will post -2.7 EPS for the current year.

Insiders Place Their Bets

In related news, VP Jeffrey Stuart Peters sold 51,395 shares of MacroGenics stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $15.55, for a total value of $799,192.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Ezio Bonvini sold 13,316 shares of the business’s 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 sale, the senior vice president now directly owns 74,668 shares of the company’s stock, valued at $1,120,020. The disclosure for this sale can be found here. Insiders have sold 80,835 shares of company stock worth $1,276,588 in the last three months. 11.30% of the stock is owned by insiders.

Institutional Trading of MacroGenics

Several large investors have recently added to or reduced their stakes in MGNX. Perceptive Advisors LLC purchased a new position in MacroGenics during the 4th quarter valued at about $5,887,000. Frazier Life Sciences Management L.P. boosted its holdings 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 worth $23,104,000 after purchasing an additional 598,500 shares during the period. RA Capital Management L.P. purchased a new position in MacroGenics during the third quarter valued at approximately $1,594,000. Bellevue Group AG grew its position in 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. acquired a new position in MacroGenics in the 3rd quarter valued at approximately $649,000. 96.89% of the stock is owned by institutional investors and hedge funds.

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.