Goldman Sachs Group Inc. Has $251,000 Position in MacroGenics, Inc. $MGNX

Goldman Sachs Group Inc. cut its holdings in MacroGenics, Inc. (NASDAQ:MGNX) by 43.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 197,696 shares of the biopharmaceutical company’s stock after selling 153,440 shares during the quarter. Goldman Sachs Group Inc. owned about 0.31% of MacroGenics worth $251,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Acadian Asset Management LLC lifted its stake in shares of MacroGenics by 78.8% in the 1st quarter. Acadian Asset Management LLC now owns 2,308,649 shares of the biopharmaceutical company’s stock valued at $2,923,000 after purchasing an additional 1,017,726 shares during the period. Amundi acquired a new position in MacroGenics in the first quarter valued at about $272,000. Strs Ohio acquired a new position in MacroGenics in the first quarter valued at about $263,000. GSA Capital Partners LLP boosted its holdings in MacroGenics by 81.9% during the first quarter. GSA Capital Partners LLP now owns 448,530 shares of the biopharmaceutical company’s stock worth $570,000 after buying an additional 201,926 shares during the last quarter. Finally, Nuveen LLC acquired a new position in shares of MacroGenics during the 1st quarter worth about $252,000. Institutional investors own 96.89% of the company’s stock.

Insider Activity at MacroGenics

In other MacroGenics news, Director William K. Heiden bought 49,500 shares of MacroGenics stock in a transaction that occurred on Wednesday, August 20th. The stock was acquired at an average price of $1.49 per share, for a total transaction of $73,755.00. Following the completion of the acquisition, the director owned 111,000 shares of the company’s stock, valued at $165,390. This trade represents a 80.49% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 13.00% of the stock is currently owned by corporate insiders.

MacroGenics Stock Up 4.8%

Shares of NASDAQ:MGNX opened at $1.73 on Monday. The firm has a market cap of $109.35 million, a price-to-earnings ratio of -3.04 and a beta of 1.63. MacroGenics, Inc. has a 12 month low of $0.99 and a 12 month high of $5.10. The company’s fifty day simple moving average is $1.65 and its 200 day simple moving average is $1.55.

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

Wall Street Analysts Forecast Growth

MGNX has been the topic of a number of analyst reports. Barclays started coverage on shares of MacroGenics in a research report on Wednesday, September 17th. They issued an “overweight” rating and a $3.00 price target on the stock. Leerink Partners lowered their target price on shares of MacroGenics from $8.00 to $5.00 and set an “outperform” rating for the company in a research note on Friday, August 15th. Finally, Wall Street Zen lowered shares of MacroGenics from a “hold” rating to a “sell” rating in a report on Saturday, August 2nd. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, MacroGenics currently has an average rating of “Moderate Buy” and a consensus price target of $3.60.

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.