DRW Securities LLC Invests $56,000 in MacroGenics, Inc. (NASDAQ:MGNX)

DRW Securities LLC purchased a new position in shares of MacroGenics, Inc. (NASDAQ:MGNX) during the second quarter, HoldingsChannel reports. The firm purchased 13,105 shares of the biopharmaceutical company’s stock, valued at approximately $56,000.

Other large investors have also recently added to or reduced their stakes in the company. Avoro Capital Advisors LLC acquired a new position in MacroGenics during the 1st quarter worth approximately $90,528,000. Price T Rowe Associates Inc. MD grew its holdings in MacroGenics by 8,361.6% during 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 acquiring an additional 2,409,237 shares during the period. Perceptive Advisors LLC purchased a new position in MacroGenics in the fourth quarter worth $5,887,000. Frazier Life Sciences Management L.P. lifted 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 valued at $23,104,000 after acquiring an additional 598,500 shares during the period. Finally, Panagora Asset Management Inc. boosted its position in shares of MacroGenics by 60.0% during the 2nd quarter. Panagora Asset Management Inc. now owns 741,490 shares of the biopharmaceutical company’s stock worth $3,151,000 after purchasing an additional 278,060 shares in the last quarter. 96.89% of the stock is owned by hedge funds and other institutional investors.

MacroGenics Price Performance

NASDAQ:MGNX opened at $3.00 on Wednesday. MacroGenics, Inc. has a 1-year low of $2.95 and a 1-year high of $21.88. The firm has a 50 day simple moving average of $3.82 and a 200-day simple moving average of $7.74. The firm has a market cap of $187.90 million, a PE ratio of -7.69 and a beta of 2.09.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Evercore ISI upgraded shares of MacroGenics to a “strong-buy” rating in a report on Monday, September 16th. HC Wainwright reiterated a “neutral” rating and set a $4.00 price target on shares of MacroGenics in a research report on Wednesday, September 18th. BTIG Research downgraded MacroGenics from a “buy” rating to a “neutral” rating in a research report on Thursday, August 1st. Barclays dropped their price target on MacroGenics from $14.00 to $9.00 and set an “overweight” rating for the company in a research report on Monday, July 29th. Finally, BMO Capital Markets lowered their price objective on shares of MacroGenics from $8.00 to $5.00 and set a “market perform” rating on the stock in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, MacroGenics has a consensus rating of “Hold” and a consensus target price of $8.11.

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.