Renaissance Technologies LLC Sells 231,000 Shares of MacroGenics, Inc. (NASDAQ:MGNX)

Renaissance Technologies LLC reduced its holdings in shares of MacroGenics, Inc. (NASDAQ:MGNX) by 32.3% during the second quarter, HoldingsChannel reports. The firm owned 484,027 shares of the biopharmaceutical company’s stock after selling 231,000 shares during the period. Renaissance Technologies LLC’s holdings in MacroGenics were worth $2,057,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of MGNX. EntryPoint Capital LLC bought a new position in shares of MacroGenics during the first quarter valued at $40,000. CANADA LIFE ASSURANCE Co purchased a new stake in MacroGenics during the first quarter valued at $52,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in MacroGenics by 300.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,072 shares of the biopharmaceutical company’s stock valued at $68,000 after acquiring an additional 12,060 shares during the last quarter. Sound Income Strategies LLC purchased a new stake in MacroGenics during the first quarter valued at $77,000. Finally, Diversified Trust Co increased its position in MacroGenics by 32.8% during the second quarter. Diversified Trust Co now owns 18,097 shares of the biopharmaceutical company’s stock valued at $77,000 after acquiring an additional 4,467 shares during the last quarter. 96.89% of the stock is owned by institutional investors.

MacroGenics Stock Up 2.9 %

Shares of MGNX opened at $3.53 on Thursday. MacroGenics, Inc. has a 52 week low of $2.95 and a 52 week high of $21.88. The business has a 50-day simple moving average of $3.63 and a two-hundred day simple moving average of $7.27. The stock has a market cap of $221.09 million, a price-to-earnings ratio of -9.05 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 (EPS) for the quarter, missing the consensus estimate of ($0.47) by ($0.42). MacroGenics had a negative return on equity of 146.01% and a negative net margin of 332.47%. The business had revenue of $10.80 million for the quarter, compared to analysts’ expectations of $24.14 million. On average, equities analysts anticipate that MacroGenics, Inc. will post -1.72 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on MGNX shares. JMP Securities reduced their price objective on MacroGenics from $16.00 to $8.00 and set a “market outperform” rating for the company in a research report on Wednesday, July 31st. Guggenheim cut MacroGenics from a “buy” rating to a “neutral” rating in a research report on Wednesday, July 31st. HC Wainwright reiterated a “neutral” rating and set a $4.00 price objective on shares of MacroGenics in a research report on Wednesday, September 18th. BMO Capital Markets reduced their price objective on MacroGenics from $8.00 to $5.00 and set a “market perform” rating for the company in a research report on Wednesday, August 7th. Finally, StockNews.com cut MacroGenics from a “hold” rating to a “sell” rating in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $8.11.

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.