MacroGenics, Inc. (NASDAQ:MGNX) Shares Acquired by Armistice Capital LLC

Armistice Capital LLC boosted its holdings in MacroGenics, Inc. (NASDAQ:MGNX) by 150.0% in the second quarter, HoldingsChannel reports. The firm owned 6,000,000 shares of the biopharmaceutical company’s stock after purchasing an additional 3,600,000 shares during the period. Armistice Capital LLC owned about 0.10% of MacroGenics worth $25,500,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its stake in shares of MacroGenics by 1.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 833,500 shares of the biopharmaceutical company’s stock valued at $8,018,000 after buying an additional 8,111 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in MacroGenics by 144.5% in the fourth quarter. BNP Paribas Financial Markets now owns 42,109 shares of the biopharmaceutical company’s stock valued at $405,000 after acquiring an additional 24,883 shares in the last quarter. Jump Financial LLC acquired a new stake in MacroGenics in the fourth quarter valued at $135,000. Dynamic Technology Lab Private Ltd bought a new position in MacroGenics during the 4th quarter valued at $182,000. Finally, Campbell & CO Investment Adviser LLC acquired a new position in MacroGenics during the 4th quarter worth $895,000. Institutional investors and hedge funds own 96.89% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Evercore ISI upgraded MacroGenics to a “strong-buy” rating in a research note on Monday, September 16th. JMP Securities dropped their price target on MacroGenics from $16.00 to $8.00 and set a “market outperform” rating on the stock in a research report on Wednesday, July 31st. Guggenheim downgraded shares of MacroGenics from a “buy” rating to a “neutral” rating in a report on Wednesday, July 31st. Barclays lowered their target price 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. Finally, StockNews.com downgraded shares of MacroGenics from a “hold” rating to a “sell” rating in a research report on Thursday, August 8th. One equities 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 given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $8.11.

MacroGenics Stock Up 1.3 %

Shares of MGNX opened at $3.04 on Thursday. MacroGenics, Inc. has a 52-week low of $2.95 and a 52-week high of $21.88. The firm has a market capitalization of $190.40 million, a PE ratio of -7.79 and a beta of 2.09. The firm has a 50-day moving average price of $3.78 and a 200 day moving average price of $7.71.

MacroGenics (NASDAQ:MGNX) last posted its quarterly earnings data 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). MacroGenics had a negative net margin of 332.47% and a negative return on equity of 146.01%. The business had revenue of $10.80 million for the quarter, compared to the consensus estimate of $24.14 million. On average, equities analysts expect that MacroGenics, Inc. will post -1.72 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.