Federated Hermes Inc. Reduces Stock Holdings in MacroGenics, Inc. (NASDAQ:MGNX)

Federated Hermes Inc. trimmed its position in shares of MacroGenics, Inc. (NASDAQ:MGNX - Free Report) by 33.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 300,499 shares of the biopharmaceutical company's stock after selling 153,233 shares during the quarter. Federated Hermes Inc. owned 0.48% of MacroGenics worth $1,277,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MGNX. EntryPoint Capital LLC acquired a new position in MacroGenics during the first quarter worth $40,000. CANADA LIFE ASSURANCE Co purchased a new position in shares of MacroGenics in the 1st quarter valued at about $52,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of MacroGenics by 300.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,072 shares of the biopharmaceutical company's stock valued at $68,000 after purchasing an additional 12,060 shares during the period. Sound Income Strategies LLC purchased a new stake in MacroGenics during the first quarter worth about $77,000. Finally, Diversified Trust Co grew its position in MacroGenics by 32.8% during the second quarter. Diversified Trust Co now owns 18,097 shares of the biopharmaceutical company's stock worth $77,000 after buying an additional 4,467 shares during the period. Institutional investors and hedge funds own 96.89% of the company's stock.

MacroGenics Stock Down 3.2 %

NASDAQ:MGNX opened at $3.28 on Friday. MacroGenics, Inc. has a fifty-two week low of $3.14 and a fifty-two week high of $21.88. The firm's 50 day moving average is $3.91 and its two-hundred day moving average is $8.06. The company has a market cap of $205.44 million, a P/E ratio of -8.41 and a beta of 2.09.

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

Analysts Set New Price Targets

Several research firms recently weighed in on MGNX. BTIG Research downgraded MacroGenics from a "buy" rating to a "neutral" rating in a research note on Thursday, August 1st. Barclays decreased their price objective on shares of MacroGenics from $14.00 to $9.00 and set an "overweight" rating on the stock in a research report on Monday, July 29th. StockNews.com cut shares of MacroGenics from a "hold" rating to a "sell" rating in a research report on Thursday, August 8th. Guggenheim lowered shares of MacroGenics from a "buy" rating to a "neutral" rating in a research report on Wednesday, July 31st. Finally, B. Riley lowered MacroGenics from a "buy" rating to a "neutral" rating and reduced their target price for the company from $18.00 to $5.00 in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, MacroGenics presently has an average rating of "Hold" and a consensus 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.