Panagora Asset Management Inc. Grows Holdings in MacroGenics, Inc. (NASDAQ:MGNX)

Panagora Asset Management Inc. grew its position in shares of MacroGenics, Inc. (NASDAQ:MGNX - Free Report) by 60.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 741,490 shares of the biopharmaceutical company's stock after acquiring an additional 278,060 shares during the quarter. Panagora Asset Management Inc. owned 1.18% of MacroGenics worth $3,151,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. EntryPoint Capital LLC bought a new stake in MacroGenics during the first quarter worth $40,000. CANADA LIFE ASSURANCE Co bought a new stake in shares of MacroGenics during the 1st quarter worth $52,000. Sound Income Strategies LLC bought a new stake in shares of MacroGenics during the 1st quarter worth $77,000. AJOVista LLC purchased a new position in shares of MacroGenics in the 4th quarter worth about $51,000. Finally, China Universal Asset Management Co. Ltd. grew its position in MacroGenics by 66.4% during the first quarter. China Universal Asset Management Co. Ltd. now owns 11,935 shares of the biopharmaceutical company's stock valued at $176,000 after buying an additional 4,761 shares during the period. Hedge funds and other institutional investors own 96.89% of the company's stock.

MacroGenics Price Performance

MGNX stock traded up $0.04 during mid-day trading on Friday, reaching $3.51. 1,276,665 shares of the company traded hands, compared to its average volume of 1,722,820. The company has a fifty day moving average price of $4.16 and a 200-day moving average price of $9.63. MacroGenics, Inc. has a 52-week low of $3.14 and a 52-week high of $21.88. The company has a market capitalization of $219.84 million, a P/E ratio of -9.00 and a beta of 2.09.

MacroGenics (NASDAQ:MGNX - Get Free Report) last issued its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported ($0.89) EPS for the quarter, missing the consensus estimate of ($0.47) by ($0.42). MacroGenics had a negative net margin of 53.60% and a negative return on equity of 98.01%. The firm had revenue of $10.80 million for the quarter, compared to analysts' expectations of $24.14 million. As a group, analysts forecast that MacroGenics, Inc. will post -2.19 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on MGNX shares. Citigroup dropped their target price on shares of MacroGenics from $16.00 to $14.00 and set a "buy" rating on the stock in a research note on Thursday, August 15th. TD Cowen lowered MacroGenics from a "buy" rating to a "hold" rating in a report on Friday, May 10th. Barclays decreased their target price on MacroGenics from $14.00 to $9.00 and set an "overweight" rating for the company in a research report on Monday, July 29th. Guggenheim downgraded MacroGenics from a "buy" rating to a "neutral" rating in a research note on Wednesday, July 31st. Finally, Stifel Nicolaus cut MacroGenics from a "buy" rating to a "hold" rating and lowered their price objective for the company from $29.00 to $7.00 in a research note on Friday, May 10th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, MacroGenics has an average rating of "Hold" and an average price target of $8.11.

About MacroGenics

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.