Connor Clark & Lunn Investment Management Ltd. raised its holdings in MacroGenics, Inc. (NASDAQ:MGNX - Free Report) by 39.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 661,914 shares of the biopharmaceutical company's stock after buying an additional 186,858 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 1.05% of MacroGenics worth $2,178,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. EntryPoint Capital LLC bought a new position in MacroGenics during the first quarter worth $40,000. China Universal Asset Management Co. Ltd. boosted its position in shares of MacroGenics by 64.0% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 12,064 shares of the biopharmaceutical company's stock worth $40,000 after purchasing an additional 4,707 shares in the last quarter. CANADA LIFE ASSURANCE Co acquired a new stake in shares of MacroGenics in the 1st quarter valued at about $52,000. SG Americas Securities LLC bought a new stake in MacroGenics in the 3rd quarter valued at about $55,000. Finally, DRW Securities LLC bought a new stake in MacroGenics in the 2nd quarter valued at about $56,000. 96.89% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of brokerages recently commented on MGNX. StockNews.com raised MacroGenics from a "sell" rating to a "buy" rating in a research report on Sunday, November 10th. B. Riley lowered 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. Citigroup decreased their target price on MacroGenics from $16.00 to $14.00 and set a "buy" rating for the company in a research report on Thursday, August 15th. Guggenheim lowered MacroGenics from a "buy" rating to a "neutral" rating in a research report on Wednesday, July 31st. Finally, BTIG Research lowered MacroGenics from a "buy" rating to a "neutral" rating in a report on Thursday, August 1st. Eight research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $7.63.
Read Our Latest Research Report on MacroGenics
MacroGenics Stock Performance
MGNX traded up $0.11 during midday trading on Tuesday, reaching $3.40. 484,041 shares of the company were exchanged, compared to its average volume of 1,436,020. MacroGenics, Inc. has a one year low of $2.95 and a one year high of $21.88. The company's fifty day moving average price is $3.64 and its 200 day moving average price is $3.99. The company has a market cap of $213.39 million, a price-to-earnings ratio of -2.16 and a beta of 2.08.
About MacroGenics
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Free Report)
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.
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