Wasatch Advisors LP Sells 307,995 Shares of MacroGenics, Inc. (NASDAQ:MGNX)

Wasatch Advisors LP trimmed its position in shares of MacroGenics, Inc. (NASDAQ:MGNX) by 23.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 989,579 shares of the biopharmaceutical company’s stock after selling 307,995 shares during the period. Wasatch Advisors LP’s holdings in MacroGenics were worth $14,567,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. AJOVista LLC purchased a new stake in shares of MacroGenics during the 4th quarter worth approximately $51,000. China Universal Asset Management Co. Ltd. increased its position in MacroGenics by 349.2% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 7,174 shares of the biopharmaceutical company’s stock worth $69,000 after purchasing an additional 5,577 shares during the last quarter. Sound Income Strategies LLC purchased a new stake in MacroGenics during the first quarter valued at $77,000. Sherbrooke Park Advisers LLC purchased a new stake in MacroGenics during the third quarter valued at $99,000. Finally, Jump Financial LLC bought a new position in MacroGenics during the fourth quarter valued at $135,000. Hedge funds and other institutional investors own 96.89% of the company’s stock.

MacroGenics Trading Down 4.7 %

Shares of MGNX opened at $4.10 on Wednesday. MacroGenics, Inc. has a 1-year low of $3.14 and a 1-year high of $21.88. The company has a 50-day moving average of $7.00 and a 200 day moving average of $11.99.

MacroGenics (NASDAQ:MGNX) last posted its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.84) earnings per share for the quarter, missing the consensus estimate of ($0.67) by ($0.17). The company had revenue of $9.10 million for the quarter, compared to the consensus estimate of $13.63 million. MacroGenics had a negative net margin of 53.60% and a negative return on equity of 98.01%. Equities research analysts predict that MacroGenics, Inc. will post -3.04 EPS for the current year.

Insider Buying and Selling at MacroGenics

In related news, VP Jeffrey Stuart Peters sold 51,395 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $15.55, for a total value of $799,192.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 11.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MGNX. JMP Securities decreased their target price on shares of MacroGenics from $22.00 to $16.00 and set a “market outperform” rating on the stock in a research report on Friday, May 10th. HC Wainwright decreased their price objective on MacroGenics from $16.00 to $4.00 and set a “neutral” rating on the stock in a research report on Monday, May 13th. BMO Capital Markets lowered MacroGenics from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $24.00 to $8.00 in a research note on Friday, May 10th. Stifel Nicolaus lowered MacroGenics from a “buy” rating to a “hold” rating and decreased their price target for the company from $29.00 to $7.00 in a report on Friday, May 10th. Finally, TheStreet lowered shares of MacroGenics from a “c” rating to a “d” rating in a research note on Thursday, March 7th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $12.00.

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.