Jacobs Levy Equity Management Inc. Purchases 99,447 Shares of MacroGenics, Inc. $MGNX

Jacobs Levy Equity Management Inc. grew its position in MacroGenics, Inc. (NASDAQ:MGNX) by 17.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 665,351 shares of the biopharmaceutical company’s stock after acquiring an additional 99,447 shares during the period. Jacobs Levy Equity Management Inc. owned about 1.05% of MacroGenics worth $845,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. ProShare Advisors LLC boosted its holdings in shares of MacroGenics by 32.4% during the 4th quarter. ProShare Advisors LLC now owns 20,284 shares of the biopharmaceutical company’s stock worth $66,000 after buying an additional 4,963 shares during the period. Exchange Traded Concepts LLC boosted its holdings in shares of MacroGenics by 19.7% during the 1st quarter. Exchange Traded Concepts LLC now owns 58,434 shares of the biopharmaceutical company’s stock worth $74,000 after buying an additional 9,611 shares during the period. Lazard Asset Management LLC bought a new stake in shares of MacroGenics during the 4th quarter worth about $32,000. Wellington Management Group LLP boosted its holdings in shares of MacroGenics by 5.4% during the 4th quarter. Wellington Management Group LLP now owns 323,857 shares of the biopharmaceutical company’s stock worth $1,053,000 after buying an additional 16,717 shares during the period. Finally, Armistice Capital LLC boosted its holdings in shares of MacroGenics by 0.3% during the 1st quarter. Armistice Capital LLC now owns 6,296,000 shares of the biopharmaceutical company’s stock worth $7,996,000 after buying an additional 20,000 shares during the period. Institutional investors own 96.89% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Leerink Partners reduced their target price on shares of MacroGenics from $8.00 to $5.00 and set an “outperform” rating for the company in a report on Friday, August 15th. Wall Street Zen downgraded shares of MacroGenics from a “hold” rating to a “sell” rating in a report on Saturday, August 2nd. Finally, 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 report on Tuesday, May 20th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, MacroGenics currently has an average rating of “Moderate Buy” and a consensus target price of $3.60.

Insider Transactions at MacroGenics

In related news, Director William K. Heiden acquired 50,500 shares of the stock in a transaction that occurred on Tuesday, August 19th. The stock was acquired at an average cost of $1.52 per share, for a total transaction of $76,760.00. Following the transaction, the director directly owned 61,500 shares in the company, valued at $93,480. This trade represents a 459.09% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 13.00% of the stock is currently owned by corporate insiders.

MacroGenics Trading Down 3.6%

Shares of NASDAQ:MGNX opened at $1.59 on Friday. The firm has a 50 day moving average of $1.63 and a 200-day moving average of $1.61. The stock has a market capitalization of $100.50 million, a PE ratio of -2.79 and a beta of 1.63. MacroGenics, Inc. has a 12 month low of $0.99 and a 12 month high of $5.10.

MacroGenics (NASDAQ:MGNX) last issued its earnings results on Thursday, August 14th. The biopharmaceutical company reported ($0.57) EPS for the quarter, beating the consensus estimate of ($0.59) by $0.02. The company had revenue of $22.24 million during the quarter, compared to analysts’ expectations of $28.06 million. MacroGenics had a negative net margin of 21.99% and a negative return on equity of 40.24%. On average, research analysts predict that MacroGenics, Inc. will post -1.06 EPS for the current fiscal year.

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.