Biotech Target N.V., a more than 10% owner of MacroGenics’ (NASDAQ:MGNX) stock, recently bought 150,000 shares of the company at an average price of $5.29 per share. The total purchase consideration stands at $793,500.
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MacroGenics is a biopharmaceutical company that develops monoclonal antibody-based therapeutics for cancer treatment.
As per the data collected by TipRanks, the latest transaction is Biotech Target’s second buy in a month’s time. In late December, it purchased MacroGenics stock worth $2.3 million. The total value of MGNX shares in Biotech Target’s portfolio currently stands at $52.6 million.
Overall, corporate insiders have bought MGNX stock worth $7.1 million over the last three months. TipRanks’ Insider Trading Activity Tool shows that insider confidence in MGNX stock is currently Positive.
Interestingly, TipRanks offers daily insider transactions as well as a list of top corporate insiders. It also provides a list of hot stocks that boast either a Very Positive or Positive insider confidence signal.
Is MGNX a Good Stock to Buy?
On TipRanks, MGNX stock commands a Strong Buy consensus rating based on seven Buys and two Holds. The average MacroGenics stock price target of $11.13 implies 89.61% upside potential.
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