MacroGenics (NASDAQ:MGNX) Releases Earnings Results

MacroGenics (NASDAQ:MGNX) announced its earnings results on Wednesday. The biopharmaceutical company reported ($0.58) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.01), FiscalAI reports. The company had revenue of $20.78 million for the quarter, compared to analyst estimates of $15.24 million. MacroGenics had a negative return on equity of 120.19% and a negative net margin of 49.91%.

MacroGenics Price Performance

Shares of MacroGenics stock traded up $0.51 on Thursday, hitting $3.96. 996,516 shares of the company’s stock traded hands, compared to its average volume of 1,089,702. The firm’s 50-day moving average price is $3.07 and its two-hundred day moving average price is $2.14. The stock has a market capitalization of $251.57 million, a PE ratio of -3.37 and a beta of 1.08. MacroGenics has a one year low of $1.18 and a one year high of $3.94.

Analyst Ratings Changes

Several research analysts have issued reports on the company. B. Riley Financial raised MacroGenics from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $3.00 to $9.00 in a report on Friday, April 10th. Wall Street Zen raised MacroGenics from a “sell” rating to a “hold” rating in a research note on Saturday, March 14th. Weiss Ratings restated a “sell (d-)” rating on shares of MacroGenics in a research report on Friday, May 8th. Barclays raised their price target on MacroGenics from $4.00 to $6.00 and gave the company an “overweight” rating in a report on Monday, April 20th. Finally, Citigroup reiterated a “market perform” rating on shares of MacroGenics in a research report on Tuesday, February 24th. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $5.50.

Institutional Investors Weigh In On MacroGenics

A number of institutional investors have recently made changes to their positions in the stock. Qube Research & Technologies Ltd acquired a new stake in shares of MacroGenics in the 3rd quarter valued at approximately $38,000. Engineers Gate Manager LP acquired a new stake in MacroGenics in the second quarter worth $28,000. Walleye Capital LLC bought a new position in shares of MacroGenics during the second quarter worth $30,000. Cresset Asset Management LLC grew its holdings in shares of MacroGenics by 52.3% in the 2nd quarter. Cresset Asset Management LLC now owns 26,720 shares of the biopharmaceutical company’s stock valued at $32,000 after buying an additional 9,172 shares during the period. Finally, Rangeley Capital LLC bought a new stake in shares of MacroGenics in the 2nd quarter valued at $33,000. 96.89% of the stock is owned by institutional investors and hedge funds.

MacroGenics Company Profile

MacroGenics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of monoclonal antibody–based therapeutics for the treatment of cancer and autoimmune diseases. The company leverages proprietary Fc engineering technologies to enhance immune engagement and extend the activity of its antibodies. Since its founding in 2000, MacroGenics has advanced several product candidates through clinical trials, most notably margetuximab, a HER2-targeted antibody designed to improve outcomes in patients with HER2-positive breast cancer.

Central to MacroGenics’ research platform are its ADAPTIR and Trident bispecific antibody technologies.