MacroGenics (NASDAQ:MGNX – Get Free Report) announced its earnings results on Thursday. The biopharmaceutical company reported ($0.58) EPS for the quarter, missing the consensus estimate of ($0.57) by ($0.01), FiscalAI reports. MacroGenics had a negative return on equity of 147.80% and a negative net margin of 44.79%.The business had revenue of $20.78 million during the quarter, compared to analyst estimates of $15.24 million.
MacroGenics Price Performance
Shares of NASDAQ MGNX traded up $0.09 during midday trading on Friday, hitting $4.25. The stock had a trading volume of 1,995,781 shares, compared to its average volume of 1,275,250. The firm has a market cap of $270.13 million, a P/E ratio of -3.86 and a beta of 1.08. MacroGenics has a fifty-two week low of $1.18 and a fifty-two week high of $4.35. The company’s 50-day simple moving average is $3.16 and its 200 day simple moving average is $2.17.
Institutional Trading of MacroGenics
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC lifted its position in MacroGenics by 71.0% during the 4th quarter. Renaissance Technologies LLC now owns 2,908,631 shares of the biopharmaceutical company’s stock valued at $4,683,000 after purchasing an additional 1,207,408 shares during the period. Marshall Wace LLP raised its position in shares of MacroGenics by 104.0% during the 4th quarter. Marshall Wace LLP now owns 1,284,563 shares of the biopharmaceutical company’s stock valued at $2,068,000 after acquiring an additional 655,028 shares during the last quarter. Jane Street Group LLC lifted its stake in shares of MacroGenics by 207.7% in the 2nd quarter. Jane Street Group LLC now owns 758,204 shares of the biopharmaceutical company’s stock valued at $917,000 after purchasing an additional 511,777 shares during the period. Affinity Asset Advisors LLC bought a new position in shares of MacroGenics in the 4th quarter worth $780,000. Finally, Squarepoint Ops LLC boosted its position in shares of MacroGenics by 595.0% in the 3rd quarter. Squarepoint Ops LLC now owns 385,633 shares of the biopharmaceutical company’s stock worth $648,000 after purchasing an additional 330,150 shares during the last quarter. 96.89% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
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About MacroGenics
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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