Wasatch Advisors LP Cuts Stock Position in MacroGenics, Inc. $MGNX

Wasatch Advisors LP lessened its stake in shares of MacroGenics, Inc. (NASDAQ:MGNX) by 12.7% in the first quarter, Holdings Channel reports. The institutional investor owned 1,559,701 shares of the biopharmaceutical company’s stock after selling 226,655 shares during the period. Wasatch Advisors LP’s holdings in MacroGenics were worth $4,508,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. R Squared Ltd purchased a new position in MacroGenics during the fourth quarter valued at $26,000. Engineers Gate Manager LP purchased a new stake in shares of MacroGenics in the second quarter worth $28,000. Walleye Capital LLC bought a new position in shares of MacroGenics during the second quarter valued at $30,000. Cresset Asset Management LLC increased its holdings in shares of MacroGenics by 52.3% during the second quarter. Cresset Asset Management LLC now owns 26,720 shares of the biopharmaceutical company’s stock valued at $32,000 after acquiring an additional 9,172 shares in the last quarter. Finally, Rangeley Capital LLC purchased a new position in shares of MacroGenics in the 2nd quarter worth about $33,000. Hedge funds and other institutional investors own 96.89% of the company’s stock.

Analysts Set New Price Targets

MGNX has been the topic of a number of analyst reports. B. Riley Financial upgraded shares of MacroGenics from a “neutral” rating to a “buy” rating and upped their price target for the stock from $3.00 to $9.00 in a research note on Friday, April 10th. Barclays lifted their target price on shares of MacroGenics from $4.00 to $6.00 and gave the stock an “overweight” rating in a report on Monday, April 20th. Weiss Ratings reiterated a “sell (d-)” rating on shares of MacroGenics in a research note on Friday, May 8th. Finally, Wall Street Zen upgraded shares of MacroGenics from a “sell” rating to a “hold” rating in a research note on Saturday, March 14th. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $5.50.

MacroGenics Stock Up 3.1%

Shares of MacroGenics stock opened at $4.81 on Friday. MacroGenics, Inc. has a twelve month low of $1.18 and a twelve month high of $5.08. The company’s 50 day moving average is $3.88 and its 200 day moving average is $2.75. The company has a market cap of $305.47 million, a price-to-earnings ratio of -4.37 and a beta of 1.18.

MacroGenics (NASDAQ:MGNX) last posted its earnings results on Wednesday, May 13th. The biopharmaceutical company reported ($0.58) EPS for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.01). The company had revenue of $20.77 million during the quarter, compared to the consensus estimate of $15.24 million. MacroGenics had a negative return on equity of 147.80% and a negative net margin of 44.79%. Sell-side analysts expect that MacroGenics, Inc. will post -1.76 EPS for the current fiscal year.

MacroGenics Profile

MacroGenics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of monoclonal antibody–based therapeutics for the treatment of cancer and autoimmune diseases. The company leverages proprietary Fc engineering technologies to enhance immune engagement and extend the activity of its antibodies. Since its founding in 2000, MacroGenics has advanced several product candidates through clinical trials, most notably margetuximab, a HER2-targeted antibody designed to improve outcomes in patients with HER2-positive breast cancer.

Central to MacroGenics’ research platform are its ADAPTIR and Trident bispecific antibody technologies.