Dimensional Fund Advisors LP Reduces Stock Position in MacroGenics, Inc. (NASDAQ:MGNX)

Dimensional Fund Advisors LP trimmed its holdings in MacroGenics, Inc. (NASDAQ:MGNX - Free Report) by 14.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 898,497 shares of the biopharmaceutical company's stock after selling 152,762 shares during the quarter. Dimensional Fund Advisors LP owned about 1.43% of MacroGenics worth $3,818,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in MGNX. Acadian Asset Management LLC lifted its stake in MacroGenics by 23.8% in the second quarter. Acadian Asset Management LLC now owns 586,079 shares of the biopharmaceutical company's stock valued at $2,489,000 after buying an additional 112,666 shares during the period. Principal Financial Group Inc. lifted its position in shares of MacroGenics by 1.1% during the 2nd quarter. Principal Financial Group Inc. now owns 348,421 shares of the biopharmaceutical company's stock valued at $1,481,000 after acquiring an additional 3,818 shares during the period. Panagora Asset Management Inc. boosted its stake in MacroGenics by 60.0% during the second quarter. Panagora Asset Management Inc. now owns 741,490 shares of the biopharmaceutical company's stock worth $3,151,000 after acquiring an additional 278,060 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in MacroGenics by 300.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,072 shares of the biopharmaceutical company's stock worth $68,000 after purchasing an additional 12,060 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in MacroGenics by 4.9% in the second quarter. Bank of New York Mellon Corp now owns 261,944 shares of the biopharmaceutical company's stock valued at $1,113,000 after purchasing an additional 12,237 shares in the last quarter. 96.89% of the stock is owned by institutional investors and hedge funds.

MacroGenics Price Performance

Shares of NASDAQ MGNX traded up $0.09 during mid-day trading on Thursday, reaching $3.74. 554,633 shares of the company's stock were exchanged, compared to its average volume of 1,566,470. The firm has a market capitalization of $234.25 million, a price-to-earnings ratio of -9.51 and a beta of 2.08. The firm has a 50-day moving average price of $3.44 and a two-hundred day moving average price of $6.83. MacroGenics, Inc. has a 52 week low of $2.95 and a 52 week high of $21.88.

MacroGenics (NASDAQ:MGNX - Get Free Report) last released its earnings results on Tuesday, August 6th. The biopharmaceutical company reported ($0.89) earnings per share for the quarter, missing analysts' consensus estimates 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 company had revenue of $10.80 million during the quarter, compared to analysts' expectations of $24.14 million. As a group, sell-side analysts forecast that MacroGenics, Inc. will post -1.72 EPS for the current fiscal year.

Analysts Set New Price Targets

MGNX has been the subject of a number of research analyst reports. 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. JMP Securities cut their target price on MacroGenics from $16.00 to $8.00 and set a "market outperform" rating on the stock in a report on Wednesday, July 31st. Barclays reduced their price target on shares of MacroGenics from $14.00 to $9.00 and set an "overweight" rating for the company in a research report on Monday, July 29th. StockNews.com downgraded shares of MacroGenics from a "hold" rating to a "sell" rating in a report on Thursday, August 8th. Finally, BTIG Research cut shares of MacroGenics from a "buy" rating to a "neutral" rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, MacroGenics presently has a consensus rating of "Hold" and a consensus price target of $8.11.

MacroGenics 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.