Renaissance Technologies LLC Sells 231,000 Shares of MacroGenics, Inc. (NASDAQ:MGNX)

Renaissance Technologies LLC lessened its stake in MacroGenics, Inc. (NASDAQ:MGNX - Free Report) by 32.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 484,027 shares of the biopharmaceutical company's stock after selling 231,000 shares during the quarter. Renaissance Technologies LLC owned about 0.77% of MacroGenics worth $2,057,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Avoro Capital Advisors LLC acquired a new position in shares of MacroGenics in the 1st quarter valued at approximately $90,528,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of MacroGenics by 8,361.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,438,050 shares of the biopharmaceutical company's stock valued at $35,889,000 after buying an additional 2,409,237 shares during the period. Perceptive Advisors LLC bought a new stake in shares of MacroGenics during the fourth quarter worth $5,887,000. Frazier Life Sciences Management L.P. lifted its position in MacroGenics by 33.2% in the 4th quarter. Frazier Life Sciences Management L.P. now owns 2,401,704 shares of the biopharmaceutical company's stock valued at $23,104,000 after acquiring an additional 598,500 shares in the last quarter. Finally, Panagora Asset Management Inc. lifted its position in MacroGenics by 60.0% in the 2nd quarter. Panagora Asset Management Inc. now owns 741,490 shares of the biopharmaceutical company's stock valued at $3,151,000 after acquiring an additional 278,060 shares in the last quarter. Institutional investors and hedge funds own 96.89% of the company's stock.

Analysts Set New Price Targets

MGNX has been the topic of several recent research reports. Guggenheim downgraded MacroGenics from a "buy" rating to a "neutral" rating in a research note on Wednesday, July 31st. HC Wainwright restated a "neutral" rating and issued a $4.00 target price on shares of MacroGenics in a research note on Wednesday, September 18th. Barclays decreased their price target on shares of MacroGenics from $14.00 to $9.00 and set an "overweight" rating for the company in a research note on Monday, July 29th. StockNews.com downgraded shares of MacroGenics from a "hold" rating to a "sell" rating in a research report on Thursday, August 8th. Finally, JMP Securities reduced their price objective on shares of MacroGenics from $16.00 to $8.00 and set a "market outperform" rating for the company in a research note on Wednesday, July 31st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $8.11.

MacroGenics Trading Up 0.6 %

NASDAQ:MGNX traded up $0.02 on Thursday, hitting $3.55. The company's stock had a trading volume of 439,948 shares, compared to its average volume of 1,596,151. MacroGenics, Inc. has a one year low of $2.95 and a one year high of $21.88. The firm has a market capitalization of $222.35 million, a P/E ratio of -9.21 and a beta of 2.09. The stock has a fifty day moving average of $3.59 and a two-hundred day moving average of $7.24.

MacroGenics (NASDAQ:MGNX - Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The biopharmaceutical company reported ($0.89) earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $10.80 million for the quarter, compared to analyst estimates of $24.14 million. As a group, sell-side 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.