Millennium Management LLC Sells 671,179 Shares of MacroGenics, Inc. (NASDAQ:MGNX)

Millennium Management LLC trimmed its holdings in shares of MacroGenics, Inc. (NASDAQ:MGNX) by 19.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,864,721 shares of the biopharmaceutical company’s stock after selling 671,179 shares during the period. Millennium Management LLC owned about 4.56% of MacroGenics worth $9,310,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wasatch Advisors LP boosted its holdings in MacroGenics by 37.6% during the 4th quarter. Wasatch Advisors LP now owns 3,488,493 shares of the biopharmaceutical company’s stock valued at $11,338,000 after acquiring an additional 952,691 shares during the period. Schonfeld Strategic Advisors LLC purchased a new position in MacroGenics in the 4th quarter worth approximately $2,787,000. JPMorgan Chase & Co. lifted its position in MacroGenics by 68.3% in the fourth quarter. JPMorgan Chase & Co. now owns 546,807 shares of the biopharmaceutical company’s stock valued at $1,777,000 after purchasing an additional 221,905 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of MacroGenics by 69.1% during the fourth quarter. Renaissance Technologies LLC now owns 538,523 shares of the biopharmaceutical company’s stock valued at $1,750,000 after purchasing an additional 220,100 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of MacroGenics during the fourth quarter valued at approximately $364,000. 96.89% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Stifel Nicolaus decreased their target price on shares of MacroGenics from $6.00 to $5.00 and set a “hold” rating on the stock in a research note on Wednesday, May 14th. Wall Street Zen cut shares of MacroGenics from a “hold” rating to a “sell” rating in a research report on Thursday. Barclays reiterated an “overweight” rating and set a $3.00 target price (down from $8.00) on shares of MacroGenics in a report on Wednesday, May 14th. B. Riley cut their target price on MacroGenics from $5.00 to $3.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 20th. Finally, HC Wainwright lowered their price target on MacroGenics from $4.00 to $2.00 and set a “neutral” rating for the company in a research report on Tuesday, March 25th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $5.71.

MacroGenics Price Performance

Shares of MGNX opened at $1.51 on Monday. The firm has a market capitalization of $95.27 million, a PE ratio of -0.96 and a beta of 2.20. The company has a 50-day simple moving average of $1.49 and a two-hundred day simple moving average of $2.51. MacroGenics, Inc. has a one year low of $0.99 and a one year high of $5.77.

MacroGenics (NASDAQ:MGNX) last posted its quarterly earnings data on Tuesday, May 13th. The biopharmaceutical company reported ($0.65) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.61) by ($0.04). The firm had revenue of $13.19 million during the quarter, compared to the consensus estimate of $9.59 million. MacroGenics had a negative return on equity of 89.42% and a negative net margin of 69.07%. Analysts expect that MacroGenics, Inc. will post -1.06 EPS for the current fiscal year.

MacroGenics Company 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.