Rhumbline Advisers Sells 4,805 Shares of MacroGenics, Inc. (NASDAQ:MGNX)

Rhumbline Advisers decreased its holdings in MacroGenics, Inc. (NASDAQ:MGNX) by 5.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 88,294 shares of the biopharmaceutical company’s stock after selling 4,805 shares during the quarter. Rhumbline Advisers owned approximately 0.14% of MacroGenics worth $375,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. ProShare Advisors LLC increased its stake in shares of MacroGenics by 8.9% in the 1st quarter. ProShare Advisors LLC now owns 15,282 shares of the biopharmaceutical company’s stock valued at $225,000 after buying an additional 1,246 shares during the period. Diversified Trust Co increased its stake in shares of MacroGenics by 16.0% in the 1st quarter. Diversified Trust Co now owns 13,630 shares of the biopharmaceutical company’s stock valued at $201,000 after buying an additional 1,880 shares during the period. EntryPoint Capital LLC acquired a new stake in shares of MacroGenics in the 1st quarter valued at $40,000. CANADA LIFE ASSURANCE Co acquired a new stake in shares of MacroGenics in the 1st quarter valued at $52,000. Finally, Principal Financial Group Inc. grew its stake in shares of MacroGenics by 1.1% during the second quarter. Principal Financial Group Inc. now owns 348,421 shares of the biopharmaceutical company’s stock worth $1,481,000 after purchasing an additional 3,818 shares during the period. Institutional investors own 96.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on MGNX shares. Evercore ISI raised MacroGenics to a “strong-buy” rating in a research note on Monday, September 16th. B. Riley downgraded MacroGenics from a “buy” rating to a “neutral” rating and decreased their target price for the company from $18.00 to $5.00 in a research report on Wednesday, July 31st. Guggenheim downgraded MacroGenics from a “buy” rating to a “neutral” rating in a research report on Wednesday, July 31st. BMO Capital Markets cut their target price on 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, StockNews.com cut MacroGenics from a “hold” rating to a “sell” rating in a research note on Thursday, August 8th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $8.11.

MacroGenics Stock Up 4.9 %

MacroGenics stock opened at $3.19 on Friday. The stock has a market cap of $199.80 million, a P/E ratio of -8.18 and a beta of 2.09. The company’s 50 day moving average price is $3.71 and its two-hundred day moving average price is $7.58. MacroGenics, Inc. has a 52 week low of $2.95 and a 52 week high of $21.88.

MacroGenics (NASDAQ:MGNX) last released its quarterly earnings results on Tuesday, August 6th. The biopharmaceutical company reported ($0.89) EPS for the quarter, missing analysts’ consensus estimates 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 firm 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 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.