AQR Capital Management LLC Buys 61,131 Shares of MacroGenics, Inc. (NASDAQ:MGNX)

AQR Capital Management LLC boosted its position in MacroGenics, Inc. (NASDAQ:MGNX) by 74.5% during the second quarter, Holdings Channel reports. The fund owned 143,161 shares of the biopharmaceutical company’s stock after acquiring an additional 61,131 shares during the period. AQR Capital Management LLC’s holdings in MacroGenics were worth $608,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Avoro Capital Advisors LLC bought a new position in shares of MacroGenics during the 1st quarter valued at about $90,528,000. Armistice Capital LLC grew its position in MacroGenics by 150.0% during the second quarter. Armistice Capital LLC now owns 6,000,000 shares of the biopharmaceutical company’s stock valued at $25,500,000 after acquiring an additional 3,600,000 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of MacroGenics by 8,361.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,438,050 shares of the biopharmaceutical company’s stock worth $35,889,000 after acquiring an additional 2,409,237 shares in the last quarter. Panagora Asset Management Inc. lifted its holdings in shares of MacroGenics by 60.0% in the 2nd quarter. Panagora Asset Management Inc. now owns 741,490 shares of the biopharmaceutical company’s stock worth $3,151,000 after acquiring an additional 278,060 shares during the last quarter. Finally, Marshall Wace LLP boosted its stake in shares of MacroGenics by 1,689.3% in the 2nd quarter. Marshall Wace LLP now owns 658,007 shares of the biopharmaceutical company’s stock valued at $2,797,000 after purchasing an additional 621,232 shares in the last quarter. Hedge funds and other institutional investors own 96.89% of the company’s stock.

MacroGenics Trading Up 3.4 %

Shares of MacroGenics stock opened at $4.28 on Tuesday. MacroGenics, Inc. has a 12-month low of $2.95 and a 12-month high of $21.88. The company has a market cap of $268.07 million, a P/E ratio of -10.97 and a beta of 2.08. The company’s fifty day simple moving average is $3.46 and its two-hundred day simple moving average is $6.56.

MacroGenics (NASDAQ:MGNX) last released its quarterly earnings results on Tuesday, August 6th. The biopharmaceutical company reported ($0.89) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.42). The company had revenue of $10.80 million during the quarter, compared to the consensus estimate of $24.14 million. MacroGenics had a negative return on equity of 146.01% and a negative net margin of 332.47%. Analysts predict that MacroGenics, Inc. will post -1.72 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on MGNX shares. Evercore ISI upgraded shares of MacroGenics to a “strong-buy” rating in a research report on Monday, September 16th. B. Riley lowered MacroGenics from a “buy” rating to a “neutral” rating and lowered their target price for the company from $18.00 to $5.00 in a research note on Wednesday, July 31st. Citigroup reduced their price target on MacroGenics from $16.00 to $14.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Barclays lowered their price objective on MacroGenics from $14.00 to $9.00 and set an “overweight” rating for the company in a research report on Monday, July 29th. Finally, StockNews.com cut shares of MacroGenics from a “hold” rating to a “sell” rating in a report on Thursday, August 8th. One investment 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $8.11.

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.