MacroGenics, Inc. (NASDAQ:MGNX) Shares Sold by Wasatch Advisors LP

Wasatch Advisors LP lowered its stake in shares of MacroGenics, Inc. (NASDAQ:MGNX) by 23.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 989,579 shares of the biopharmaceutical company’s stock after selling 307,995 shares during the quarter. Wasatch Advisors LP owned approximately 1.58% of MacroGenics worth $14,567,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the stock. Sound Income Strategies LLC acquired a new stake in shares of MacroGenics during the first quarter worth $77,000. AJOVista LLC acquired a new position in MacroGenics in the 4th quarter valued at approximately $51,000. China Universal Asset Management Co. Ltd. raised its position in MacroGenics by 349.2% during 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 acquiring an additional 5,577 shares in the last quarter. Diversified Trust Co boosted its holdings in MacroGenics by 16.0% in the first quarter. Diversified Trust Co now owns 13,630 shares of the biopharmaceutical company’s stock worth $201,000 after purchasing an additional 1,880 shares in the last quarter. Finally, Jump Financial LLC bought a new position in shares of MacroGenics in the 4th quarter valued at approximately $135,000. 96.89% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. B. Riley initiated coverage on shares of MacroGenics in a research note on Friday, April 26th. They issued a “buy” rating and a $25.00 price objective on the stock. HC Wainwright decreased their target price on MacroGenics from $16.00 to $4.00 and set a “neutral” rating on the stock in a report on Monday, May 13th. Stifel Nicolaus cut MacroGenics from a “buy” rating to a “hold” rating and decreased their price target for the company from $29.00 to $7.00 in a report on Friday, May 10th. TD Cowen cut MacroGenics from a “buy” rating to a “hold” rating in a report on Friday, May 10th. Finally, Barclays reduced their target price on shares of MacroGenics from $25.00 to $14.00 and set an “overweight” rating on the stock in a research note on Friday, May 10th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $12.00.

MacroGenics Price Performance

NASDAQ MGNX opened at $4.10 on Wednesday. The business has a 50 day simple moving average of $7.00 and a 200 day simple moving average of $11.99. MacroGenics, Inc. has a 52-week low of $3.14 and a 52-week high of $21.88.

MacroGenics (NASDAQ:MGNX) last released its quarterly 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 net margin of 53.60% and a negative return on equity of 98.01%. The company had revenue of $9.10 million during the quarter, compared to analyst estimates of $13.63 million. Equities analysts expect that MacroGenics, Inc. will post -3.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, VP Jeffrey Stuart Peters sold 51,395 shares of MacroGenics stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $15.55, for a total value of $799,192.25. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 11.30% of the company’s stock.

MacroGenics Company 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.