Prepare Yourself for Liftoff: MacroGenics Inc. (MGNX)

MacroGenics Inc. (NASDAQ: MGNX) stock jumped 10.29% on Friday to $5.79 against a previous-day closing price of $5.25. With 0.67 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.88 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $5.88 whereas the lowest price it dropped to was $5.25. The 52-week range on MGNX shows that it touched its highest point at $13.87 and its lowest point at $2.13 during that stretch. It currently has a 1-year price target of $10.40. Beta for the stock currently stands at 1.98.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of MGNX was up-trending over the past week, with a rise of 11.13%, but this was down by -0.52% over a month. Three-month performance surged to 51.57% while six-month performance rose 52.77%. The stock lost -56.30% in the past year, while it has lost -13.71% so far this year. A look at the trailing 12-month EPS for MGNX yields -3.11 with Next year EPS estimates of -2.34. For the next quarter, that number is 0.25. This implies an EPS growth rate of -36.30% for this year and -24.50% for next year.

Float and Shares Shorts:

At present, 61.46 million MGNX shares are outstanding with a float of 59.88 million shares on hand for trading. On Oct 13, 2022, short shares totaled 4.94 million, which was 8.04% higher than short shares on Sep 14, 2022. In addition to Dr. Scott Koenig M.D., Ph.D. as the firm’s Pres, CEO & Director, Mr. James Karrels serves as its Sr. VP, CFO & Corp. Sec.

Institutional Ownership:

Through their ownership of 107.77% of MGNX’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 48.95% of MGNX, in contrast to 44.73% held by mutual funds. Shares owned by individuals account for 28.80%. As the largest shareholder in MGNX with 14.53% of the stake, Bellevue Asset Management AG holds 8,929,963 shares worth 8,929,963. A second-largest stockholder of MGNX, Armistice Capital LLC, holds 6,128,000 shares, controlling over 9.97% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in MGNX, holding 4,509,101 shares or 7.34% stake. With a 11.84% stake in MGNX, the BB Biotech AG is the largest stakeholder. A total of 7,275,564 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 3.05% of MGNX stock, is the second-largest Mutual Fund holder. It holds 1,875,612 shares valued at 12.59 million. Wasatch Ultra Growth Fund holds 2.97% of the stake in MGNX, owning 1,826,829 shares worth 12.26 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for MGNX since 12 analysts follow the stock currently. There are 8 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 3 believe that the stock is worth HOLDING, 1 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With MGNX analysts setting a high price target of $16.00 and a low target of $6.00, the average target price over the next 12 months is $10.40. Based on these targets, MGNX could surge 176.34% to reach the target high and rise by 3.63% to reach the target low. Reaching the average price target will result in a growth of 79.62% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. MGNX will report FY 2022 earnings on 02/23/2024. Analysts have provided yearly estimates in a range of -$0.86 being high and -$2.95 being low. For MGNX, this leads to a yearly average estimate of -$1.88. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. MacroGenics Inc. surprised analysts by -$0.02 when it reported -$0.40 EPS against a consensus estimate of -$0.38. The surprise factor in the prior quarter was $0.31. Based on analyst estimates, the high estimate for the next quarter is $1.26 and the low estimate is -$0.79. The average estimate for the next quarter is thus $0.25.

Summary of Insider Activity:

Insiders traded MGNX stock several times over the past three months with 5 Buys and 0 Sells. In these transactions, 958,500 shares were bought while 0 shares were sold. The number of buy transactions has increased to 13 while that of sell transactions has risen to 1 over the past year. The total number of shares bought during that period was 1,769,980 while 1,666 shares were sold.

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