Bank of New York Mellon Corp Sells 52,439 Shares of MacroGenics, Inc. (NASDAQ:MGNX)

Bank of New York Mellon Corp trimmed its position in shares of MacroGenics, Inc. (NASDAQ:MGNX) by 24.0% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 166,122 shares of the biopharmaceutical company’s stock after selling 52,439 shares during the period. Bank of New York Mellon Corp’s holdings in MacroGenics were worth $540,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Barclays PLC lifted its holdings in shares of MacroGenics by 97.1% during the 3rd quarter. Barclays PLC now owns 98,753 shares of the biopharmaceutical company’s stock worth $325,000 after acquiring an additional 48,639 shares during the period. SG Americas Securities LLC raised its position in MacroGenics by 104.5% during the fourth quarter. SG Americas Securities LLC now owns 34,399 shares of the biopharmaceutical company’s stock valued at $112,000 after purchasing an additional 17,577 shares in the last quarter. Stifel Financial Corp raised its position in MacroGenics by 19.7% during the third quarter. Stifel Financial Corp now owns 39,888 shares of the biopharmaceutical company’s stock valued at $131,000 after purchasing an additional 6,578 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in MacroGenics by 35.2% during the third quarter. Jacobs Levy Equity Management Inc. now owns 566,328 shares of the biopharmaceutical company’s stock worth $1,863,000 after purchasing an additional 147,438 shares during the last quarter. Finally, FMR LLC boosted its holdings in shares of MacroGenics by 1,230.1% in the 3rd quarter. FMR LLC now owns 137,215 shares of the biopharmaceutical company’s stock valued at $451,000 after purchasing an additional 126,899 shares in the last quarter. 96.89% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on MGNX. StockNews.com cut MacroGenics from a “buy” rating to a “hold” rating in a report on Friday, March 21st. HC Wainwright lowered their target price on MacroGenics from $4.00 to $2.00 and set a “neutral” rating for the company in a research note on Tuesday. Nine analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, MacroGenics currently has a consensus rating of “Hold” and an average target price of $7.38.

MacroGenics Stock Down 5.1 %

Shares of MGNX opened at $1.48 on Friday. The stock has a market cap of $93.37 million, a PE ratio of -0.94 and a beta of 2.12. MacroGenics, Inc. has a 12-month low of $1.46 and a 12-month high of $19.54. The business has a 50-day simple moving average of $2.54 and a two-hundred day simple moving average of $3.17.

MacroGenics (NASDAQ:MGNX) last issued its quarterly earnings data on Thursday, March 20th. The biopharmaceutical company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.02). MacroGenics had a negative net margin of 69.07% and a negative return on equity of 89.42%. The business had revenue of $49.40 million during the quarter, compared to the consensus estimate of $34.17 million. On average, equities research analysts expect that MacroGenics, Inc. will post -1.06 EPS 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.