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

MacroGenics, Inc. (NASDAQ:MGNX) saw a significant increase in short interest in the month of 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. Currently, 14.7% of the shares of the company are short sold. Based on an average daily volume of 1,540,000 shares, the days-to-cover ratio is currently 5.6 days.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. JMP Securities reiterated a “market outperform” rating on shares of MacroGenics in a research note on Thursday, April 4th. HC Wainwright downgraded 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 report on Wednesday, February 14th. BTIG Research upped their price target on shares of MacroGenics from $12.00 to $24.00 and gave the company a “buy” rating in a report on Monday, March 4th. Barclays upped their price target on shares of MacroGenics from $12.00 to $23.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. Finally, TD Cowen raised shares of MacroGenics from a “hold” rating to a “buy” rating in a report on Tuesday, April 9th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $18.00.

Insider Buying and Selling at MacroGenics

In other MacroGenics news, VP Jeffrey Stuart Peters sold 16,124 shares of MacroGenics stock in a transaction on Monday, February 26th. The shares were sold at an average price of $17.22, for a total value of $277,655.28. Following the transaction, the vice president now directly owns 8,895 shares in the company, valued at $153,171.90. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, 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 transaction of $199,740.00. Following the transaction, the senior vice president now directly owns 74,668 shares in the company, valued at $1,120,020. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Jeffrey Stuart Peters sold 16,124 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $17.22, for a total transaction of $277,655.28. Following the transaction, the vice president now owns 8,895 shares in the company, valued at $153,171.90. The disclosure for this sale can be found here. Over the last three months, insiders have sold 80,835 shares of company stock worth $1,276,588. 11.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On MacroGenics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Sound Income Strategies LLC acquired a new position in MacroGenics during the first quarter worth approximately $77,000. AJOVista LLC acquired a new position in MacroGenics during the fourth quarter worth approximately $51,000. China Universal Asset Management Co. Ltd. increased its position in MacroGenics by 349.2% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 7,174 shares of the biopharmaceutical company’s stock worth $69,000 after purchasing an additional 5,577 shares during the last quarter. Diversified Trust Co increased its position in MacroGenics by 16.0% during the first quarter. Diversified Trust Co now owns 13,630 shares of the biopharmaceutical company’s stock worth $201,000 after purchasing an additional 1,880 shares during the last quarter. Finally, Jump Financial LLC acquired a new position in MacroGenics during the fourth quarter worth approximately $135,000. Institutional investors and hedge funds own 96.89% of the company’s stock.

MacroGenics Price Performance

Shares of MGNX opened at $14.56 on Friday. The company’s 50 day simple moving average is $16.68 and its 200 day simple moving average is $11.98. MacroGenics has a 1 year low of $4.29 and a 1 year high of $21.88.

MacroGenics (NASDAQ:MGNX) last issued its quarterly earnings results on Thursday, March 7th. The biopharmaceutical company reported ($0.75) EPS 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 company had revenue of $10.72 million for the quarter, compared to analyst estimates of $25.70 million. During the same period last year, the company posted $0.21 EPS. Sell-side analysts predict 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.