MacroGenics (MGNX) Sees Strong Trading Volume

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Shares of MacroGenics Inc (NASDAQ:MGNX) saw an uptick in trading volume on Wednesday . 5,658,692 shares were traded during trading, an increase of 213% from the previous session’s volume of 1,810,300 shares.The stock last traded at $21.29 and had previously closed at $20.99.

MGNX has been the topic of several research analyst reports. Nomura upped their price objective on shares of MacroGenics from $41.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, February 7th. SunTrust Banks increased their price objective on shares of MacroGenics to $40.00 and gave the stock a “buy” rating in a research report on Thursday, February 7th. Wedbush cut shares of MacroGenics from an “outperform” rating to a “neutral” rating in a research note on Thursday, February 7th. Citigroup upgraded shares of MacroGenics from a “sell” rating to a “buy” rating and raised their target price for the stock from $10.00 to $39.00 in a research note on Thursday, February 7th. Finally, ValuEngine raised shares of MacroGenics from a “buy” rating to a “strong-buy” rating in a report on Thursday, February 7th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. MacroGenics currently has a consensus rating of “Buy” and a consensus price target of $31.78.

The stock has a market cap of $892.53 million, a price-to-earnings ratio of -40.04 and a beta of 2.65.

In related news, Director Matthew K. Fust sold 6,924 shares of the firm’s stock in a transaction dated Wednesday, February 6th. The stock was sold at an average price of $29.38, for a total transaction of $203,427.12. Following the sale, the director now directly owns 7,424 shares of the company’s stock, valued at $218,117.12. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Thomas Spitznagel sold 1,770 shares of the firm’s stock in a transaction that occurred on Wednesday, February 6th. The shares were sold at an average price of $30.00, for a total value of $53,100.00. Following the completion of the sale, the senior vice president now directly owns 1,770 shares in the company, valued at $53,100. The disclosure for this sale can be found here. Insiders have sold a total of 8,762 shares of company stock worth $258,567 in the last three months. Corporate insiders own 8.82% of the company’s stock.

Large investors have recently bought and sold shares of the business. Legal & General Group Plc grew its stake in shares of MacroGenics by 20.4% in the fourth quarter. Legal & General Group Plc now owns 7,432 shares of the biopharmaceutical company’s stock valued at $94,000 after buying an additional 1,261 shares in the last quarter. Opaleye Management Inc. purchased a new stake in shares of MacroGenics in the 4th quarter valued at about $1,905,000. Metropolitan Life Insurance Co. NY lifted its holdings in shares of MacroGenics by 356.6% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 13,178 shares of the biopharmaceutical company’s stock valued at $167,000 after purchasing an additional 10,292 shares during the last quarter. Candriam Luxembourg S.C.A. raised its stake in MacroGenics by 52.3% during the 4th quarter. Candriam Luxembourg S.C.A. now owns 542,987 shares of the biopharmaceutical company’s stock valued at $6,896,000 after acquiring an additional 186,387 shares during the last quarter. Finally, Squarepoint Ops LLC increased its position in MacroGenics by 173.7% during the 4th quarter. Squarepoint Ops LLC now owns 120,131 shares of the biopharmaceutical company’s stock worth $1,526,000 after purchasing an additional 76,247 shares during the period. Institutional investors own 87.47% of the company’s stock.

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About MacroGenics (NASDAQ:MGNX)

MacroGenics, Inc, a biopharmaceutical company, discovers and develops antibody-based therapeutics for the treatment of cancer primarily by modulating the human immune system, and autoimmune disorders and infectious diseases in the United States. The company's advanced clinical product candidate is Margetuximab, a monoclonal antibody, which is in Phase III clinical trial that targets human epidermal growth factor receptor 2-expressing tumors, such as various breast and gastroesophageal cancers.

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