Exchange Traded Concepts LLC Raises Stock Position in MacroGenics, Inc. (NASDAQ:MGNX)

Exchange Traded Concepts LLC grew its holdings in MacroGenics, Inc. (NASDAQ:MGNX) by 19.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 58,434 shares of the biopharmaceutical company’s stock after purchasing an additional 9,611 shares during the quarter. Exchange Traded Concepts LLC owned approximately 0.09% of MacroGenics worth $74,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Wasatch Advisors LP boosted its position in MacroGenics by 37.6% during the fourth quarter. Wasatch Advisors LP now owns 3,488,493 shares of the biopharmaceutical company’s stock worth $11,338,000 after acquiring an additional 952,691 shares during the last quarter. Frazier Life Sciences Management L.P. raised its stake in shares of MacroGenics by 5.5% in the 4th quarter. Frazier Life Sciences Management L.P. now owns 3,175,665 shares of the biopharmaceutical company’s stock valued at $10,321,000 after acquiring an additional 164,938 shares during the period. Geode Capital Management LLC raised its stake in shares of MacroGenics by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 1,433,217 shares of the biopharmaceutical company’s stock valued at $4,659,000 after acquiring an additional 26,341 shares during the period. Two Sigma Advisers LP raised its stake in shares of MacroGenics by 7.1% in the 4th quarter. Two Sigma Advisers LP now owns 1,118,600 shares of the biopharmaceutical company’s stock valued at $3,635,000 after acquiring an additional 74,596 shares during the period. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in MacroGenics during the 4th quarter worth $2,787,000. 96.89% of the stock is currently owned by institutional investors and hedge funds.

MacroGenics Stock Up 1.5%

Shares of MGNX opened at $1.34 on Wednesday. The company’s fifty day moving average is $1.52 and its 200-day moving average is $2.19. The firm has a market cap of $84.54 million, a price-to-earnings ratio of -1.51 and a beta of 1.65. MacroGenics, Inc. has a 12 month low of $0.99 and a 12 month 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 the consensus estimate of ($0.61) by ($0.04). MacroGenics had a negative return on equity of 59.84% and a negative net margin of 36.23%. The firm had revenue of $13.19 million for the quarter, compared to the consensus estimate of $9.59 million. As a group, research analysts predict that MacroGenics, Inc. will post -1.06 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on MGNX shares. Stifel Nicolaus dropped their target price 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. Wall Street Zen raised shares of MacroGenics from a “sell” rating to a “hold” rating in a research note on Saturday, June 7th. Barclays reissued an “overweight” rating and set a $3.00 target price (down from $8.00) on shares of MacroGenics in a research note on Wednesday, May 14th. B. Riley cut their price target on shares of MacroGenics from $5.00 to $3.00 and set a “neutral” rating on the stock in a report on Tuesday, May 20th. Finally, HC Wainwright decreased their price objective on shares of MacroGenics from $4.00 to $2.00 and set a “neutral” rating for the company in a research note on Tuesday, March 25th. Eight analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $5.71.

MacroGenics 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.