Millennium Management LLC boosted its holdings in shares of MacroGenics, Inc. (NASDAQ:MGNX - Free Report) by 3,473.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,312,672 shares of the biopharmaceutical company's stock after buying an additional 3,219,977 shares during the quarter. Millennium Management LLC owned 5.29% of MacroGenics worth $14,079,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of the business. Perceptive Advisors LLC acquired a new stake in shares of MacroGenics during the 4th quarter worth approximately $5,887,000. Price T Rowe Associates Inc. MD increased its holdings in 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 in the last quarter. Frazier Life Sciences Management L.P. raised its position in shares of MacroGenics by 33.2% in the fourth quarter. Frazier Life Sciences Management L.P. now owns 2,401,704 shares of the biopharmaceutical company's stock worth $23,104,000 after acquiring an additional 598,500 shares during the period. Swiss National Bank acquired a new position in shares of MacroGenics in the first quarter worth about $1,351,000. Finally, Sound Income Strategies LLC purchased a new stake in shares of MacroGenics during the 1st quarter worth about $77,000. 96.89% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of research firms recently weighed in on MGNX. BTIG Research cut MacroGenics from a "buy" rating to a "neutral" rating in a report on Thursday, August 1st. Evercore ISI upgraded MacroGenics to a "strong-buy" rating in a research report on Monday, September 16th. HC Wainwright reissued a "neutral" rating and issued a $4.00 price target on shares of MacroGenics in a report on Wednesday, September 18th. 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 report on Monday, July 29th. Finally, Guggenheim cut shares of MacroGenics from a "buy" rating to a "neutral" rating 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 issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $8.11.
View Our Latest Analysis on MGNX
MacroGenics Price Performance
Shares of MGNX stock remained flat at $3.59 during trading hours on Monday. The stock had a trading volume of 253,658 shares, compared to its average volume of 1,583,181. MacroGenics, Inc. has a 1-year low of $2.95 and a 1-year high of $21.88. The firm has a market cap of $224.85 million, a P/E ratio of -9.23 and a beta of 2.08. The stock has a 50-day simple moving average of $3.52 and a two-hundred day simple moving average of $7.02.
MacroGenics (NASDAQ:MGNX - Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The biopharmaceutical company reported ($0.89) earnings per share for the quarter, missing the consensus estimate of ($0.47) by ($0.42). The firm had revenue of $10.80 million during the quarter, compared to analysts' expectations of $24.14 million. MacroGenics had a negative net margin of 332.47% and a negative return on equity of 146.01%. As a group, analysts anticipate that MacroGenics, Inc. will post -1.72 earnings per share for the current fiscal year.
About MacroGenics
(
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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