Short Interest in MacroGenics Inc (MGNX) Grows By 33.4%

MacroGenics Inc (NASDAQ:MGNX) was the target of a significant growth in short interest during the month of February. As of February 28th, there was short interest totalling 3,213,840 shares, a growth of 33.4% from the February 15th total of 2,409,285 shares. Based on an average daily volume of 1,425,380 shares, the short-interest ratio is presently 2.3 days. Currently, 7.5% of the company’s stock are sold short.

MGNX has been the topic of several research reports. HC Wainwright reiterated a “buy” rating and set a $39.00 price objective (up previously from $34.00) on shares of MacroGenics in a research note on Wednesday, February 6th. Citigroup upgraded shares of MacroGenics from a “sell” rating to a “buy” rating and increased their price objective for the stock from $10.00 to $39.00 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 note on Thursday, February 7th. Nomura increased 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. Finally, ValuEngine lowered shares of MacroGenics from a “buy” rating to a “hold” rating in a research note on Tuesday, December 11th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $31.78.

In other news, SVP Thomas Spitznagel sold 1,770 shares of the stock in a transaction dated Wednesday, February 6th. The shares were sold at an average price of $30.00, for a total transaction of $53,100.00. Following the transaction, the senior vice president now owns 1,770 shares of the company’s stock, valued at $53,100. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Matthew K. Fust sold 6,924 shares of the 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 transaction, the director now directly owns 7,424 shares in the company, valued at approximately $218,117.12. The disclosure for this sale can be found here. Insiders have sold 8,762 shares of company stock worth $258,567 in the last ninety days. Corporate insiders own 8.82% of the company’s stock.

Several large investors have recently made changes to their positions in MGNX. Bellevue Group AG increased its stake in shares of MacroGenics by 47.3% in the fourth quarter. Bellevue Group AG now owns 1,066,993 shares of the biopharmaceutical company’s stock valued at $13,551,000 after purchasing an additional 342,691 shares during the period. Sofinnova Investments Inc. acquired a new stake in shares of MacroGenics in the fourth quarter valued at approximately $4,228,000. BB Biotech AG increased its stake in shares of MacroGenics by 12.4% in the third quarter. BB Biotech AG now owns 2,990,412 shares of the biopharmaceutical company’s stock valued at $64,114,000 after purchasing an additional 330,000 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of MacroGenics by 101.6% in the third quarter. Dimensional Fund Advisors LP now owns 582,511 shares of the biopharmaceutical company’s stock valued at $12,489,000 after purchasing an additional 293,527 shares during the period. Finally, Candriam Luxembourg S.C.A. increased its stake in shares of MacroGenics by 289.3% in the third quarter. Candriam Luxembourg S.C.A. now owns 356,600 shares of the biopharmaceutical company’s stock valued at $7,646,000 after purchasing an additional 265,000 shares during the period. Institutional investors own 87.05% of the company’s stock.

MGNX opened at $19.25 on Friday. The stock has a market cap of $1.00 billion, a P/E ratio of -4.59 and a beta of 3.02. MacroGenics has a fifty-two week low of $9.87 and a fifty-two week high of $32.32.

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About MacroGenics

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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