Allspring Global Investments Holdings LLC boosted its holdings in shares of MacroGenics, Inc. (NASDAQ:MGNX – Free Report) by 280.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 62,708 shares of the biopharmaceutical company’s stock after acquiring an additional 46,218 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.10% of MacroGenics worth $335,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in MacroGenics during the 1st quarter worth about $27,000. Point72 Middle East FZE acquired a new stake in MacroGenics during the 4th quarter worth about $28,000. Ensign Peak Advisors Inc acquired a new stake in MacroGenics during the 3rd quarter worth about $41,000. Point72 Hong Kong Ltd acquired a new stake in shares of MacroGenics during the 2nd quarter valued at about $59,000. Finally, Lazard Asset Management LLC acquired a new stake in shares of MacroGenics during the 4th quarter valued at about $80,000. 96.89% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several brokerages have recently issued reports on MGNX. Guggenheim upgraded MacroGenics from a “neutral” rating to a “buy” rating and set a $12.00 price target for the company in a report on Tuesday. StockNews.com upgraded MacroGenics from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, HC Wainwright reiterated a “buy” rating and set a $14.00 price target on shares of MacroGenics in a report on Thursday, August 10th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, MacroGenics currently has a consensus rating of “Moderate Buy” and an average price target of $12.71.
MacroGenics Stock Performance
MGNX opened at $6.40 on Friday. The business has a 50 day moving average price of $5.05 and a 200 day moving average price of $5.35. MacroGenics, Inc. has a twelve month low of $4.29 and a twelve month high of $7.90. The firm has a market cap of $396.99 million, a P/E ratio of 8.00 and a beta of 1.90.
MacroGenics (NASDAQ:MGNX – Get Free Report) last posted its earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($0.36) earnings per share for the quarter, topping the consensus estimate of ($0.52) by $0.16. MacroGenics had a negative return on equity of 51.83% and a net margin of 41.13%. The firm had revenue of $13.14 million during the quarter, compared to analyst estimates of $27.06 million. As a group, analysts anticipate that MacroGenics, Inc. will post -1.77 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other MacroGenics news, Director Edward Hurwitz purchased 15,000 shares of the company’s stock in a transaction on Wednesday, August 30th. The shares were bought at an average cost of $4.91 per share, with a total value of $73,650.00. Following the transaction, the director now directly owns 33,074 shares in the company, valued at approximately $162,393.34. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. In other MacroGenics news, Director Edward Hurwitz purchased 15,000 shares of the company’s stock in a transaction on Wednesday, August 30th. The shares were bought at an average cost of $4.91 per share, with a total value of $73,650.00. Following the transaction, the director now directly owns 33,074 shares in the company, valued at approximately $162,393.34. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Target N. V. Biotech purchased 150,000 shares of the company’s stock in a transaction on Monday, October 2nd. The stock was acquired at an average cost of $4.46 per share, for a total transaction of $669,000.00. Following the completion of the transaction, the insider now owns 9,929,963 shares in the company, valued at $44,287,634.98. The disclosure for this purchase can be found here. Insiders have acquired a total of 365,000 shares of company stock valued at $1,794,650 in the last three months. Company insiders own 10.00% of the company’s stock.
MacroGenics Company Profile
MacroGenics, Inc, a biopharmaceutical company, develops 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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