MacroGenics Inc. (NASDAQ: MGNX): Stock That Needs Special Handling


Bellevue Asset Management AG recently announced the acquisition of new stake in MacroGenics Inc. (NASDAQ:MGNX). The institutional investor has increased its shareholding in the Healthcare company by 4.18% to 6.12 million shares with purchase of 0.25 million shares. This fresh investment now brings its stake to 12.46% valued currently at $170.85 million. In addition, BlackRock Fund Advisors raised its holdings by 7116.0 to 3.8 million shares. And The Vanguard Group, Inc. has lifted its position by 0.11% or 3330.0 shares – to 3.14 million shares.

With over 0.26 million MacroGenics Inc. (MGNX) shares trading Wednesday and a closing price of $25.99 on the day, the dollar volume was approximately $6.81 million. The shares have shown a negative weekly performance of -7.50% and its price on 07/22/20 lost nearly -2.44%. Currently, there are 49.01M common shares owned by the public and among those 45.55M shares have been available to trade.

An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 12 analysts who have offered their price forecasts for MGNX have a consensus price objective of $28.20. The analysts have set the share’s price value over the next 12 months at a high of $40.00 and a low of $8.00 should the stock experience a downside. Incidentally, analysts’ outlook for the MacroGenics Inc. stock is 1.80 for the next 12 months. The average price target is 11.48% above its last price level and an upside to the estimated low will see the stock lose -224.87% over that period. But an upside of 35.03% will see the stock hit the forecast high price target while mean target price for the stock is $32.00.

Insiders at the company have transacted a total of 28 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 16 of these insider trades were purchases, accounting for 184,583 shares. Insider sales of the common stock occurred on 12 occasions, with total insider shares sold totaling 20,987 shares.

The top 3 mutual fund holders in MacroGenics Inc. are BB Biotech AG, Invesco Oppenheimer Global Fund, and Vanguard Total Stock Market Index. BB Biotech AG owns 4.73 million shares of the company’s stock, all valued at over $132.04 million. The company bought an additional 0.21 million shares recently to bring their total holdings to about 9.63% of the shares outstanding. Vanguard Total Stock Market Index sold 96200.0 shares to bring its total holdings to over 1.24 million shares at a value of $34.6 million. Vanguard Total Stock Market Index now owns shares totaling to 2.52% of the shares outstanding.

Shares of MacroGenics Inc. (NASDAQ: MGNX) opened at $25.85, down -$0.79 from a prior closing price of $26.64. However, the script later closed the day at $25.99, down -2.44%. The company’s stock has a 5-day price change of -7.50% and 275.74% over the past three months. MGNX shares are trading 144.85% year to date (YTD), with the 12-month market performance up to 89.74% higher. It has a 12-month low price of $4.04 and touched a high of $32.18 over the same period. Currently, 0.26 million shares have been traded, compared to an average intraday trading volume of 3.24 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -9.53%, 1.38%, and 94.26% respectively.

Institutional ownership of MacroGenics Inc. (NASDAQ: MGNX) shares accounts for 92.30% of the company’s 49.01M shares outstanding. Mutual fund holders own 37.17%, while other institutional holders and individual stakeholders account for 51.68% and 17.84% respectively.

It has a market capitalization of $1.30B and a beta (3y monthly) value of 2.79. The earnings-per-share (ttm) stands at -$3.10. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.15% over the week and 5.93% over the month.

Analysts forecast that MacroGenics Inc. (MGNX) will achieve an EPS of -$0.92 for the current quarter, -$0.88 for the next quarter and -$2.17 for 2021. The lowest estimate earnings-per-share for the quarter is -$1.12 while analysts give the company a high EPS estimate of -$0.59. Comparatively, EPS for the current quarter was -$0.65 a year ago. Earnings per share for the fiscal year are expected to increase by 24.60%, and 47.20% over the next financial year.

If you are looking to buy this stock, then you may note that the average analyst recommendation by 12 brokerage firm advisors rate MacroGenics Inc. (MGNX) as a “Strong Buy” at a consensus score of 1.80. Specifically, 10 Wall Street analysts polled rate the stock as a buy, while 0 of the 12 advise that investors “hold,” and 2 rated it as a “Sell.”

Looking at the support for the MGNX, a number of firms have released research notes about the stock. Guggenheim stated their Buy rating for the stock in a research note on June 01, 2020, with the firm’s price target at. H.C. Wainwright coverage for the MacroGenics Inc. (MGNX) stock in a research note released on May 26, 2020 offered a Buy rating with a price target of $40. Barclays was of a view on March 04, 2020 that the stock is Underweight, while Cantor Fitzgerald gave the stock Overweight rating on December 19, 2019, issuing a price target of. Cantor Fitzgerald on their part issued Overweight rating on December 18, 2019.


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