Short Interest in MacroGenics, Inc. (NASDAQ:MGNX) Expands By 66.4%

MacroGenics, Inc. (NASDAQ:MGNX) saw a large increase in short interest during the month of May. As of May 15th, there was short interest totaling 4,877,009 shares, an increase of 66.4% from the April 30th total of 2,930,168 shares. Approximately 8.9% of the shares of the company are short sold. Based on an average daily volume of 1,961,021 shares, the short-interest ratio is presently 2.5 days.

MacroGenics Price Performance

NASDAQ:MGNX opened at $4.20 on Thursday. The firm has a market capitalization of $266.95 million, a P/E ratio of -3.82 and a beta of 1.18. MacroGenics has a 1-year low of $1.18 and a 1-year high of $4.64. The company’s fifty day moving average price is $3.53 and its 200-day moving average price is $2.43.

MacroGenics (NASDAQ:MGNX) last released its quarterly earnings data on Wednesday, May 13th. The biopharmaceutical company reported ($0.58) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.01). The business had revenue of $20.78 million during the quarter, compared to analyst estimates of $15.24 million. MacroGenics had a negative return on equity of 147.80% and a negative net margin of 44.79%. Equities analysts anticipate that MacroGenics will post -1.58 EPS for the current fiscal year.

Institutional Trading of MacroGenics

A number of hedge funds have recently added to or reduced their stakes in MGNX. Invesco Ltd. boosted its holdings in MacroGenics by 90.0% during the first quarter. Invesco Ltd. now owns 68,377 shares of the biopharmaceutical company’s stock worth $87,000 after buying an additional 32,398 shares in the last quarter. Amundi purchased a new stake in MacroGenics during the first quarter worth $272,000. Jones Financial Companies Lllp raised its position in MacroGenics by 456,243.3% during the first quarter. Jones Financial Companies Lllp now owns 136,903 shares of the biopharmaceutical company’s stock worth $174,000 after acquiring an additional 136,873 shares during the period. Russell Investments Group Ltd. raised its position in MacroGenics by 2,970.9% during the second quarter. Russell Investments Group Ltd. now owns 49,564 shares of the biopharmaceutical company’s stock worth $59,000 after acquiring an additional 47,950 shares during the period. Finally, Walleye Capital LLC acquired a new position in MacroGenics during the second quarter worth $30,000. 96.89% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

About MacroGenics

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.