Vanguard Group Inc. Increases Stake in MacroGenics, Inc. (NASDAQ:MGNX)

Vanguard Group Inc. grew its position in MacroGenics, Inc. (NASDAQ:MGNX) by 0.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,414,924 shares of the biopharmaceutical company’s stock after acquiring an additional 36,396 shares during the quarter. Vanguard Group Inc. owned about 7.12% of MacroGenics worth $20,574,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in MGNX. Millennium Management LLC raised its stake in shares of MacroGenics by 68.0% in the second quarter. Millennium Management LLC now owns 2,609,562 shares of the biopharmaceutical company’s stock valued at $7,698,000 after acquiring an additional 1,055,927 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of MacroGenics by 517.8% in the second quarter. JPMorgan Chase & Co. now owns 1,249,992 shares of the biopharmaceutical company’s stock worth $6,687,000 after purchasing an additional 1,047,650 shares during the last quarter. Citadel Advisors LLC grew its holdings in shares of MacroGenics by 910.9% in the second quarter. Citadel Advisors LLC now owns 1,092,449 shares of the biopharmaceutical company’s stock worth $3,222,000 after purchasing an additional 984,387 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of MacroGenics by 144.3% in the second quarter. Renaissance Technologies LLC now owns 1,430,923 shares of the biopharmaceutical company’s stock worth $4,221,000 after purchasing an additional 845,211 shares during the last quarter. Finally, State Street Corp grew its holdings in shares of MacroGenics by 21.7% in the first quarter. State Street Corp now owns 3,544,724 shares of the biopharmaceutical company’s stock worth $31,229,000 after purchasing an additional 632,054 shares during the last quarter. Hedge funds and other institutional investors own 96.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on MGNX. JMP Securities restated a “market outperform” rating on shares of MacroGenics in a report on Thursday, April 4th. TD Cowen upgraded shares of MacroGenics from a “hold” rating to a “buy” rating in a report on Tuesday, April 9th. Barclays upped their price target on shares of MacroGenics from $12.00 to $23.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. TheStreet cut shares of MacroGenics from a “c” rating to a “d” rating in a report on Thursday, March 7th. Finally, BTIG Research increased their target price on shares of MacroGenics from $12.00 to $24.00 and gave the stock a “buy” rating in a report on Monday, March 4th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.00.

MacroGenics Stock Performance

NASDAQ:MGNX opened at $17.54 on Friday. MacroGenics, Inc. has a fifty-two week low of $4.29 and a fifty-two week high of $21.88. The stock has a market capitalization of $1.10 billion, a P/E ratio of -109.63 and a beta of 2.09. The company’s 50-day simple moving average is $17.00 and its 200-day simple moving average is $11.25.

MacroGenics (NASDAQ:MGNX) last released its quarterly earnings results on Thursday, March 7th. The biopharmaceutical company reported ($0.75) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.49). MacroGenics had a negative net margin of 15.42% and a negative return on equity of 88.49%. The firm had revenue of $10.72 million during the quarter, compared to the consensus estimate of $25.70 million. During the same quarter in the prior year, the business posted $0.21 earnings per share. On average, research analysts forecast that MacroGenics, Inc. will post -2.7 EPS for the current year.

Insider Activity

In other news, VP Jeffrey Stuart Peters sold 16,124 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $17.22, for a total value of $277,655.28. Following the sale, the vice president now directly owns 8,895 shares in the company, valued at approximately $153,171.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Ezio Bonvini sold 13,316 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $15.00, for a total value of $199,740.00. Following the completion of the transaction, the senior vice president now directly owns 74,668 shares of the company’s stock, valued at approximately $1,120,020. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Jeffrey Stuart Peters sold 16,124 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $17.22, for a total transaction of $277,655.28. Following the completion of the transaction, the vice president now directly owns 8,895 shares of the company’s stock, valued at $153,171.90. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 94,151 shares of company stock worth $1,436,380. Corporate insiders own 10.00% of the company’s stock.

About MacroGenics

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.