Zurcher Kantonalbank Zurich Cantonalbank Raises Holdings in MacroGenics, Inc. (NASDAQ:MGNX)

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of MacroGenics, Inc. (NASDAQ:MGNX) by 300.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,072 shares of the biopharmaceutical company’s stock after buying an additional 12,060 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in MacroGenics were worth $68,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of MGNX. Avoro Capital Advisors LLC purchased a new position in MacroGenics during the first quarter valued at approximately $90,528,000. Price T Rowe Associates Inc. MD grew its holdings in MacroGenics by 8,361.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,438,050 shares of the biopharmaceutical company’s stock worth $35,889,000 after purchasing an additional 2,409,237 shares during the last quarter. Perceptive Advisors LLC purchased a new position in MacroGenics in the fourth quarter worth $5,887,000. Frazier Life Sciences Management L.P. grew its holdings in MacroGenics by 33.2% in the fourth quarter. Frazier Life Sciences Management L.P. now owns 2,401,704 shares of the biopharmaceutical company’s stock worth $23,104,000 after purchasing an additional 598,500 shares during the last quarter. Finally, Bellevue Group AG grew 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 worth $95,751,000 after purchasing an additional 150,000 shares during the last quarter. 96.89% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MGNX has been the topic of several analyst reports. JMP Securities cut their price target on shares of MacroGenics from $16.00 to $8.00 and set a “market outperform” rating on the stock in a report on Wednesday, July 31st. Guggenheim lowered shares of MacroGenics from a “buy” rating to a “neutral” rating in a report on Wednesday, July 31st. BMO Capital Markets cut their price target on shares of MacroGenics from $8.00 to $5.00 and set a “market perform” rating on the stock in a report on Wednesday, August 7th. BTIG Research lowered shares of MacroGenics from a “buy” rating to a “neutral” rating in a report on Thursday, August 1st. Finally, HC Wainwright reiterated a “neutral” rating and set a $4.00 price objective on shares of MacroGenics in a research note on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. According to MarketBeat, MacroGenics presently has a consensus rating of “Hold” and a consensus price target of $8.11.

MacroGenics Price Performance

NASDAQ MGNX opened at $3.56 on Wednesday. The company has a market capitalization of $223.28 million, a PE ratio of -9.13 and a beta of 2.09. The company has a fifty day moving average of $4.05 and a 200 day moving average of $8.83. MacroGenics, Inc. has a 1 year low of $3.14 and a 1 year high of $21.88.

MacroGenics (NASDAQ:MGNX) last posted its earnings results on Tuesday, August 6th. The biopharmaceutical company reported ($0.89) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.42). The business had revenue of $10.80 million for the quarter, compared to analyst estimates of $24.14 million. MacroGenics had a negative net margin of 332.47% and a negative return on equity of 146.01%. Research analysts expect that MacroGenics, Inc. will post -1.72 earnings per share for the current year.

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.