Connor Clark & Lunn Investment Management Ltd. Has $2.18 Million Stock Holdings in MacroGenics, Inc. (NASDAQ:MGNX)

Connor Clark & Lunn Investment Management Ltd. raised its holdings in MacroGenics, Inc. (NASDAQ:MGNX) by 39.3% during the third quarter, Holdings Channel.com reports. The fund owned 661,914 shares of the biopharmaceutical company’s stock after purchasing an additional 186,858 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in MacroGenics were worth $2,178,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in MGNX. ProShare Advisors LLC increased its stake in MacroGenics by 8.9% in the first quarter. ProShare Advisors LLC now owns 15,282 shares of the biopharmaceutical company’s stock valued at $225,000 after purchasing an additional 1,246 shares in the last quarter. EntryPoint Capital LLC acquired a new stake in MacroGenics during the 1st quarter worth $40,000. CANADA LIFE ASSURANCE Co bought a new position in MacroGenics during the first quarter worth about $52,000. Principal Financial Group Inc. grew its stake in MacroGenics by 1.1% in the second 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 during the period. Finally, Diversified Trust Co grew its position in shares of MacroGenics by 32.8% in the 2nd quarter. Diversified Trust Co now owns 18,097 shares of the biopharmaceutical company’s stock valued at $77,000 after purchasing an additional 4,467 shares during the period. 96.89% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on MGNX shares. JMP Securities lowered shares of MacroGenics from an “outperform” rating to a “market perform” rating in a report on Thursday, November 7th. Citigroup cut their price target on MacroGenics from $16.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. StockNews.com upgraded MacroGenics from a “sell” rating to a “buy” rating in a report on Sunday, November 10th. BTIG Research cut MacroGenics from a “buy” rating to a “neutral” rating in a research note on Thursday, August 1st. Finally, B. Riley downgraded MacroGenics from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $18.00 to $5.00 in a research report on Wednesday, July 31st. Eight equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $7.63.

MacroGenics Stock Performance

MGNX opened at $3.29 on Tuesday. The firm has a market cap of $206.49 million, a P/E ratio of -2.08 and a beta of 2.08. The business’s fifty day moving average is $3.64 and its 200-day moving average is $3.99. MacroGenics, Inc. has a 52-week low of $2.95 and a 52-week high of $21.88.

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.