Panagora Asset Management Inc. Purchases New Position in MacroGenics Inc (NASDAQ:MGNX)

Panagora Asset Management Inc. purchased a new stake in shares of MacroGenics Inc (NASDAQ:MGNX) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 300,587 shares of the biopharmaceutical company’s stock, valued at approximately $5,101,000. Panagora Asset Management Inc. owned 0.61% of MacroGenics at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. OppenheimerFunds Inc. grew its position in shares of MacroGenics by 0.4% in the 1st quarter. OppenheimerFunds Inc. now owns 4,463,410 shares of the biopharmaceutical company’s stock worth $80,252,000 after buying an additional 16,569 shares during the last quarter. Wasatch Advisors Inc. grew its holdings in shares of MacroGenics by 10.1% in the second quarter. Wasatch Advisors Inc. now owns 1,422,245 shares of the biopharmaceutical company’s stock valued at $24,135,000 after purchasing an additional 130,732 shares during the period. Federated Investors Inc. PA grew its holdings in shares of MacroGenics by 206,408.1% in the first quarter. Federated Investors Inc. PA now owns 1,100,688 shares of the biopharmaceutical company’s stock valued at $19,790,000 after purchasing an additional 1,100,155 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of MacroGenics by 38.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 808,201 shares of the biopharmaceutical company’s stock valued at $10,264,000 after purchasing an additional 225,690 shares during the period. Finally, Candriam Luxembourg S.C.A. grew its holdings in shares of MacroGenics by 12.8% in the second quarter. Candriam Luxembourg S.C.A. now owns 750,988 shares of the biopharmaceutical company’s stock valued at $12,688,000 after purchasing an additional 85,500 shares during the period. Hedge funds and other institutional investors own 90.76% of the company’s stock.

Shares of NASDAQ MGNX traded down $0.02 during mid-day trading on Friday, hitting $13.64. 14,152 shares of the company were exchanged, compared to its average volume of 303,215. The company has a quick ratio of 5.81, a current ratio of 5.81 and a debt-to-equity ratio of 0.08. The stock has a 50 day simple moving average of $14.37 and a 200-day simple moving average of $16.99. MacroGenics Inc has a 1-year low of $9.87 and a 1-year high of $32.32. The firm has a market cap of $652.19 million, a price-to-earnings ratio of -3.20 and a beta of 2.35.

MacroGenics (NASDAQ:MGNX) last issued its quarterly earnings results on Wednesday, July 31st. The biopharmaceutical company reported ($0.65) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.96) by $0.31. MacroGenics had a negative return on equity of 54.52% and a negative net margin of 273.47%. The firm had revenue of $10.59 million during the quarter, compared to the consensus estimate of $17.58 million. Analysts anticipate that MacroGenics Inc will post -3.27 earnings per share for the current fiscal year.

A number of brokerages recently issued reports on MGNX. ValuEngine lowered shares of MacroGenics from a “buy” rating to a “hold” rating in a report on Monday, July 8th. Stifel Nicolaus reduced their price target on shares of MacroGenics from $29.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. Cowen reissued a “buy” rating on shares of MacroGenics in a research report on Wednesday, June 5th. BidaskClub cut shares of MacroGenics from a “sell” rating to a “strong sell” rating in a research report on Friday, July 19th. Finally, Morgan Stanley set a $19.00 price target on shares of MacroGenics and gave the stock a “hold” rating in a research report on Wednesday, June 5th. One analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $30.89.

About MacroGenics

MacroGenics, Inc, a biopharmaceutical company, discovers and develops antibody-based therapeutics for the treatment of cancer in the United States. Its pipeline of immuno-oncology product candidates includes Margetuximab, a monoclonal antibody, which is in Phase III clinical trial that targets HER2-expressing tumors, such as various breast and gastroesophageal cancers.

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Institutional Ownership by Quarter for MacroGenics (NASDAQ:MGNX)

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