Lazard Asset Management LLC Purchases New Position in MacroGenics, Inc. (NASDAQ:MGNX)

Lazard Asset Management LLC purchased a new stake in MacroGenics, Inc. (NASDAQ:MGNX) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 9,869 shares of the biopharmaceutical company’s stock, valued at approximately $32,000.

Several other hedge funds have also recently bought and sold shares of MGNX. Cubist Systematic Strategies LLC acquired a new position in shares of MacroGenics in the fourth quarter valued at approximately $364,000. Bridgeway Capital Management LLC bought a new stake in MacroGenics in the 4th quarter valued at $338,000. Bank of America Corp DE grew its holdings in MacroGenics by 41.5% in the 4th quarter. Bank of America Corp DE now owns 201,151 shares of the biopharmaceutical company’s stock valued at $654,000 after buying an additional 59,005 shares in the last quarter. Schonfeld Strategic Advisors LLC bought a new position in MacroGenics during the 4th quarter worth $2,787,000. Finally, Oxford Asset Management LLP bought a new position in MacroGenics during the 4th quarter worth $89,000. 96.89% of the stock is currently owned by institutional investors and hedge funds.

MacroGenics Price Performance

Shares of NASDAQ:MGNX opened at $1.51 on Tuesday. MacroGenics, Inc. has a 1 year low of $0.99 and a 1 year high of $5.77. The stock has a market capitalization of $95.27 million, a price-to-earnings ratio of -0.96 and a beta of 2.20. The company’s 50 day simple moving average is $1.48 and its 200 day simple moving average is $2.49.

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on MGNX shares. B. Riley reduced their target price on shares of MacroGenics from $5.00 to $3.00 and set a “neutral” rating for the company in a research report on Tuesday, May 20th. HC Wainwright cut their price objective on shares of MacroGenics from $4.00 to $2.00 and set a “neutral” rating for the company in a report on Tuesday, March 25th. Wall Street Zen cut shares of MacroGenics from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd. Stifel Nicolaus dropped their price target on shares of MacroGenics from $6.00 to $5.00 and set a “hold” rating for the company in a research report on Wednesday, May 14th. Finally, Barclays reissued an “overweight” rating and set a $3.00 price target (down previously from $8.00) on shares of MacroGenics in a research report on Wednesday, May 14th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, MacroGenics has a consensus rating of “Hold” and a consensus target price of $5.71.

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.