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Why MacroGenics Stock Is Tumbling Today

TheMotleyFool

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Shares of MacroGenics (NASDAQ: MGNX) had tumbled 4.8% lower at 11:27 a.m. EDT on Friday. The decline came after the company provided its second-quarter update. MacroGenics reported revenue of $30.8 million, slightly higher than the consensus estimate of $30.03 million. It posted a net loss of $39.9 million, or $0.66 per share. This result missed the average analyst estimate of a net loss of $0.46 per share.

In some ways, today's sell-off after MacroGenics missed the consensus earnings estimate doesn't make much sense. Analysts probably just underestimated the company's operating costs.

Image source: Getty Images.

Source Fool.com

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