Wellington Management Group LLP Decreases Holdings in MacroGenics, Inc. (NASDAQ:MGNX)

Wellington Management Group LLP reduced its holdings in shares of MacroGenics, Inc. (NASDAQ:MGNX) by 4.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 238,123 shares of the biopharmaceutical company’s stock after selling 10,397 shares during the quarter. Wellington Management Group LLP owned approximately 0.38% of MacroGenics worth $2,291,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in MGNX. Bellevue Group AG boosted its holdings in MacroGenics by 1.5% in the fourth quarter. Bellevue Group AG now owns 9,953,313 shares of the biopharmaceutical company’s stock valued at $95,751,000 after purchasing an additional 150,000 shares in the last quarter. Vanguard Group Inc. grew its position in shares of MacroGenics by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 4,414,924 shares of the biopharmaceutical company’s stock valued at $20,574,000 after buying an additional 36,396 shares during the last quarter. Frazier Life Sciences Management L.P. raised its stake in MacroGenics by 33.2% during the 4th quarter. Frazier Life Sciences Management L.P. now owns 2,401,704 shares of the biopharmaceutical company’s stock worth $23,104,000 after acquiring an additional 598,500 shares in the last quarter. Rock Springs Capital Management LP lifted its position in MacroGenics by 5.0% in the third quarter. Rock Springs Capital Management LP now owns 1,178,796 shares of the biopharmaceutical company’s stock valued at $5,493,000 after acquiring an additional 55,700 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in MacroGenics by 1.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 833,500 shares of the biopharmaceutical company’s stock valued at $8,018,000 after acquiring an additional 8,111 shares in the last quarter. Hedge funds and other institutional investors own 96.89% of the company’s stock.

Insider Buying and Selling

In related news, VP Jeffrey Stuart Peters sold 51,395 shares of MacroGenics stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $15.55, for a total transaction of $799,192.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 11.30% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on MGNX shares. Stifel Nicolaus downgraded MacroGenics from a “buy” rating to a “hold” rating and reduced their target price for the company from $29.00 to $7.00 in a report on Friday, May 10th. TD Cowen cut shares of MacroGenics from a “buy” rating to a “hold” rating in a report on Friday, May 10th. HC Wainwright decreased their price target on shares of MacroGenics from $16.00 to $4.00 and set a “neutral” rating for the company in a research note on Monday, May 13th. TheStreet lowered shares of MacroGenics from a “c” rating to a “d” rating in a research note on Thursday, March 7th. Finally, Barclays lowered their price target on MacroGenics from $25.00 to $14.00 and set an “overweight” rating on the stock in a report on Friday, May 10th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $12.00.

MacroGenics Stock Up 3.2 %

NASDAQ:MGNX opened at $4.25 on Monday. MacroGenics, Inc. has a fifty-two week low of $3.14 and a fifty-two week high of $21.88. The firm’s fifty day simple moving average is $7.46 and its 200-day simple moving average is $12.06. The stock has a market cap of $266.18 million, a PE ratio of -10.90 and a beta of 2.01.

MacroGenics (NASDAQ:MGNX) last issued its earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.84) earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $9.10 million for the quarter, compared to analyst estimates of $13.63 million. Equities analysts anticipate that MacroGenics, Inc. will post -3.04 earnings per share for the current year.

About MacroGenics

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.