Wasatch Advisors LP lessened its holdings in shares of MacroGenics, Inc. (NASDAQ:MGNX – Free Report) by 12.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,559,701 shares of the biopharmaceutical company’s stock after selling 226,655 shares during the period. Wasatch Advisors LP owned about 2.45% of MacroGenics worth $4,508,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Armistice Capital LLC grew its position in shares of MacroGenics by 6.1% in the 4th quarter. Armistice Capital LLC now owns 6,324,000 shares of the biopharmaceutical company’s stock worth $10,182,000 after buying an additional 364,000 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of MacroGenics by 0.3% during the third quarter. Vanguard Group Inc. now owns 4,224,234 shares of the biopharmaceutical company’s stock valued at $7,097,000 after acquiring an additional 11,120 shares in the last quarter. Renaissance Technologies LLC lifted its stake in MacroGenics by 71.0% in the fourth quarter. Renaissance Technologies LLC now owns 2,908,631 shares of the biopharmaceutical company’s stock worth $4,683,000 after acquiring an additional 1,207,408 shares during the period. Millennium Management LLC lifted its stake in MacroGenics by 5.0% in the third quarter. Millennium Management LLC now owns 2,116,870 shares of the biopharmaceutical company’s stock worth $3,556,000 after acquiring an additional 101,006 shares during the period. Finally, Jefferies Financial Group Inc. bought a new stake in MacroGenics in the fourth quarter valued at $2,964,000. Institutional investors own 96.89% of the company’s stock.
Wall Street Analysts Forecast Growth
MGNX has been the subject of several research reports. Wall Street Zen upgraded shares of MacroGenics from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. Barclays lifted their target price on shares of MacroGenics from $4.00 to $6.00 and gave the company an “overweight” rating in a research note on Monday, April 20th. Weiss Ratings reiterated a “sell (d-)” rating on shares of MacroGenics in a research report on Friday, May 8th. Finally, B. Riley Financial raised shares of MacroGenics from a “neutral” rating to a “buy” rating and increased their price target for the stock from $3.00 to $9.00 in a research note on Friday, April 10th. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $5.50.
MacroGenics Trading Up 3.1%
MGNX opened at $4.81 on Friday. The company has a market cap of $305.47 million, a price-to-earnings ratio of -4.37 and a beta of 1.18. The stock has a fifty day simple moving average of $3.88 and a two-hundred day simple moving average of $2.75. MacroGenics, Inc. has a 12-month low of $1.18 and a 12-month high of $5.08.
MacroGenics (NASDAQ:MGNX – Get Free Report) last announced its earnings results on Wednesday, May 13th. The biopharmaceutical company reported ($0.58) EPS for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.01). The business had revenue of $20.77 million for the quarter, compared to the consensus estimate of $15.24 million. MacroGenics had a negative net margin of 44.79% and a negative return on equity of 147.80%. On average, analysts predict that MacroGenics, Inc. will post -1.76 EPS for the current year.
MacroGenics Company Profile
MacroGenics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of monoclonal antibody–based therapeutics for the treatment of cancer and autoimmune diseases. The company leverages proprietary Fc engineering technologies to enhance immune engagement and extend the activity of its antibodies. Since its founding in 2000, MacroGenics has advanced several product candidates through clinical trials, most notably margetuximab, a HER2-targeted antibody designed to improve outcomes in patients with HER2-positive breast cancer.
Central to MacroGenics’ research platform are its ADAPTIR and Trident bispecific antibody technologies.
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