Sound Income Strategies LLC Buys Shares of 5,252 MacroGenics, Inc. (NASDAQ:MGNX)

Sound Income Strategies LLC bought a new stake in MacroGenics, Inc. (NASDAQ:MGNX) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 5,252 shares of the biopharmaceutical company’s stock, valued at approximately $77,000.

Several other hedge funds have also recently made changes to their positions in the company. AJOVista LLC purchased a new position in shares of MacroGenics in the fourth quarter valued at $51,000. China Universal Asset Management Co. Ltd. grew its position in shares of MacroGenics by 349.2% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 7,174 shares of the biopharmaceutical company’s stock valued at $69,000 after purchasing an additional 5,577 shares in the last quarter. Sherbrooke Park Advisers LLC purchased a new position in shares of MacroGenics in the third quarter valued at $99,000. Jump Financial LLC purchased a new position in shares of MacroGenics in the fourth quarter valued at $135,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of MacroGenics in the fourth quarter valued at $182,000. 96.89% of the stock is currently owned by institutional investors.

Insider Activity

In other news, VP Jeffrey Stuart Peters sold 51,395 shares of the business’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $15.55, for a total value of $799,192.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 11.30% of the stock is currently owned by corporate insiders.

MacroGenics Trading Down 5.1 %

MGNX opened at $4.07 on Thursday. The stock has a 50-day moving average price of $7.93 and a 200-day moving average price of $12.10. MacroGenics, Inc. has a 12-month low of $3.14 and a 12-month high of $21.88.

MacroGenics (NASDAQ:MGNX) last posted its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($0.84) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.17). MacroGenics had a negative return on equity of 98.01% and a negative net margin of 53.60%. The firm had revenue of $9.10 million during the quarter, compared to analysts’ expectations of $13.63 million. On average, research analysts anticipate that MacroGenics, Inc. will post -3.04 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently commented on MGNX shares. JMP Securities reduced their target price on MacroGenics from $22.00 to $16.00 and set a “market outperform” rating for the company in a research report on Friday, May 10th. Barclays reduced their target price on MacroGenics from $25.00 to $14.00 and set an “overweight” rating for the company in a research report on Friday, May 10th. B. Riley started coverage on MacroGenics in a research report on Friday, April 26th. They set a “buy” rating and a $25.00 target price for the company. TD Cowen cut MacroGenics from a “buy” rating to a “hold” rating in a research report on Friday, May 10th. Finally, BMO Capital Markets cut MacroGenics from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $24.00 to $8.00 in a research report on Friday, May 10th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.00.

MacroGenics Profile

MacroGenics, Inc, a biopharmaceutical company, develops, manufactures, and commercializes antibody-based therapeutics to treat cancer in the United States. Its approved product is MARGENZA (margetuximab-cmkb), a human epidermal growth factor receptor 2 (HER2) receptor antagonist indicated, in combination with chemotherapy, for the treatment of adult patients with metastatic HER2-positive breast cancer who have received two or more prior anti-HER2 regimens.