Are Smart Investors Making the Right Decision? Macrogenics Inc (MGNX)

Macrogenics Inc (NASDAQ: MGNX) stock jumped 7.05% on Friday to $7.59 against a previous-day closing price of $7.09. With 1.03 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.57 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $7.78 whereas the lowest price it dropped to was $7.26. The 52-week range on MGNX shows that it touched its highest point at $7.90 and its lowest point at $4.29 during that stretch. It currently has a 1-year price target of $12.11. Beta for the stock currently stands at 1.96.

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 18.59%, but this was up by 65.72% over a month. Three-month performance surged to 47.67% while six-month performance rose 32.00%. The stock gained 12.61% in the past year, while it has gained 13.11% so far this year. A look at the trailing 12-month EPS for MGNX yields 0.80 with Next year EPS estimates of -1.89. For the next quarter, that number is -0.18. This implies an EPS growth rate of 119.92% for this year and -586.62% for next year.

Float and Shares Shorts:

At present, 61.70 million MGNX shares are outstanding with a float of 58.55 million shares on hand for trading. On Oct 30, 2023, short shares totaled 6.76 million, which was 10.90% higher than short shares on Sep 28, 2023. In addition to Dr. Scott Koenig M.D., Ph.D. as the firm’s President, CEO & Director, Mr. James Karrels serves as its Senior VP, CFO & Corporate Secretary.

Institutional Ownership:

Through their ownership of 94.64% of MGNX’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 51.99% of MGNX, in contrast to 44.98% held by mutual funds. Shares owned by individuals account for 30.24%. As the largest shareholder in MGNX with 16.03% of the stake, Bellevue Asset Management AG holds 9,929,963 shares worth 9,929,963. A second-largest stockholder of MGNX, T. Rowe Price Investment Manageme, holds 5,491,952 shares, controlling over 8.87% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in MGNX, holding 4,795,699 shares or 7.74% stake. With a 15.46% stake in MGNX, the BB Biotech AG is the largest stakeholder. A total of 9,579,963 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 2.97% of MGNX stock, is the second-largest Mutual Fund holder. It holds 1,839,450 shares valued at 9.6 million. T Rowe Price Small Cap Value Fund holds 2.91% of the stake in MGNX, owning 1,802,100 shares worth 9.41 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for MGNX since 0 analysts follow the stock currently. 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 $17.00 and a low target of $7.00, the average target price over the next 12 months is $12.11. Based on these targets, MGNX could surge 123.98% to reach the target high and fall by -7.77% to reach the target low. Reaching the average price target will result in a growth of 59.55% from current levels.

Summary of Insider Activity:

Insiders traded MGNX stock several times over the past three months with 3 Buys and 0 Sells. In these transactions, 365,000 shares were bought while 0 shares were sold. The number of buy transactions has increased to 10 while that of sell transactions has risen to 3 over the past year. The total number of shares bought during that period was 1,733,125 while 12,369 shares were sold.