MacroGenics, Inc. (NASDAQ:MGNX) Shares Purchased by Marshall Wace LLP

Marshall Wace LLP increased its stake in shares of MacroGenics, Inc. (NASDAQ:MGNX) by 1,689.3% in the 2nd quarter, Holdings Channel reports. The firm owned 658,007 shares of the biopharmaceutical company’s stock after purchasing an additional 621,232 shares during the period. Marshall Wace LLP’s holdings in MacroGenics were worth $2,797,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. ProShare Advisors LLC raised its position in shares of MacroGenics by 8.9% during the 1st quarter. ProShare Advisors LLC now owns 15,282 shares of the biopharmaceutical company’s stock worth $225,000 after purchasing an additional 1,246 shares during the last quarter. Diversified Trust Co raised its position in shares of MacroGenics by 16.0% during the 1st 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 during the last quarter. EntryPoint Capital LLC acquired a new position in shares of MacroGenics during the 1st quarter worth about $40,000. CANADA LIFE ASSURANCE Co acquired a new position in shares of MacroGenics during the 1st quarter worth about $52,000. Finally, Principal Financial Group Inc. grew its stake in MacroGenics by 1.1% during the 2nd quarter. Principal Financial Group Inc. now owns 348,421 shares of the biopharmaceutical company’s stock valued at $1,481,000 after acquiring an additional 3,818 shares in the last quarter. Institutional investors and hedge funds own 96.89% of the company’s stock.

MacroGenics Stock Performance

Shares of MGNX stock opened at $3.55 on Friday. The firm’s 50 day moving average price is $3.59 and its 200-day moving average price is $7.24. MacroGenics, Inc. has a one year low of $2.95 and a one year high of $21.88. The firm has a market cap of $222.35 million, a P/E ratio of -9.21 and a beta of 2.09.

MacroGenics (NASDAQ:MGNX) last issued its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported ($0.89) 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 company had revenue of $10.80 million during the quarter, compared to analyst estimates of $24.14 million. As a group, research analysts predict that MacroGenics, Inc. will post -1.72 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on MGNX shares. Evercore ISI raised shares of MacroGenics to a “strong-buy” rating in a research note on Monday, September 16th. Citigroup dropped their price objective on shares of MacroGenics from $16.00 to $14.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. StockNews.com cut shares of MacroGenics from a “hold” rating to a “sell” rating in a research note on Thursday, August 8th. BMO Capital Markets dropped their price objective on shares of MacroGenics from $8.00 to $5.00 and set a “market perform” rating for the company in a research note on Wednesday, August 7th. Finally, Barclays dropped their price objective on shares of MacroGenics from $14.00 to $9.00 and set an “overweight” rating for the company in a research note on Monday, July 29th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target 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.