Why MacroGenics Stock Is Sinking Today

Shares of MacroGenics (NASDAQ: MGNX) had sunk 13.4% lower at 10:50 a.m. ET on Friday. The decline came after the biopharmaceutical company provided its fourth-quarter update following the market close on Thursday.

MacroGenics announced only its 2021 full-year results. However, comparing those results with its third-quarter numbers showed that the company posted a net loss of $0.95 per share. The consensus estimate had been for MacroGenics to deliver a net loss of $0.81 per share.

The company generated nearly $14.2 million in revenue in the fourth quarter of 2021. This result was well below revenue of $52.7 million in the prior-year period and also came in below analysts' expectations.

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Source Fool.com