MacroGenics, Inc. (NASDAQ:MGNX) Holdings Lifted by Acadian Asset Management LLC

Acadian Asset Management LLC grew its holdings in shares of MacroGenics, Inc. (NASDAQ:MGNX) by 23.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 586,079 shares of the biopharmaceutical company’s stock after buying an additional 112,666 shares during the period. Acadian Asset Management LLC’s holdings in MacroGenics were worth $2,489,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in MGNX. EntryPoint Capital LLC acquired a new stake in MacroGenics in the 1st quarter valued at approximately $40,000. CANADA LIFE ASSURANCE Co bought a new stake in shares of MacroGenics during the first quarter valued at about $52,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in MacroGenics by 300.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,072 shares of the biopharmaceutical company’s stock worth $68,000 after purchasing an additional 12,060 shares during the period. Sound Income Strategies LLC bought a new position in MacroGenics in the 1st quarter valued at about $77,000. Finally, Diversified Trust Co grew its position in MacroGenics by 32.8% in the 2nd quarter. Diversified Trust Co now owns 18,097 shares of the biopharmaceutical company’s stock valued at $77,000 after buying an additional 4,467 shares in the last quarter. Institutional investors own 96.89% of the company’s stock.

MacroGenics Trading Up 2.5 %

MGNX stock opened at $3.70 on Friday. MacroGenics, Inc. has a one year low of $3.14 and a one year high of $21.88. The firm has a 50-day moving average of $4.01 and a two-hundred day moving average of $8.67. The firm has a market capitalization of $232.06 million, a PE ratio of -9.49 and a beta of 2.09.

MacroGenics (NASDAQ:MGNX) last issued its quarterly earnings results on Tuesday, August 6th. The biopharmaceutical company reported ($0.89) EPS for the quarter, missing the consensus estimate of ($0.47) by ($0.42). MacroGenics had a negative net margin of 332.47% and a negative return on equity of 146.01%. The firm had revenue of $10.80 million during the quarter, compared to analysts’ expectations of $24.14 million. On average, equities research analysts anticipate that MacroGenics, Inc. will post -1.72 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on MGNX. B. Riley lowered shares of MacroGenics from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $18.00 to $5.00 in a research note on Wednesday, July 31st. BTIG Research downgraded MacroGenics from a “buy” rating to a “neutral” rating in a research report on Thursday, August 1st. StockNews.com cut MacroGenics from a “hold” rating to a “sell” rating in a research report on Thursday, August 8th. BMO Capital Markets cut their price objective on MacroGenics from $8.00 to $5.00 and set a “market perform” rating for the company in a report on Wednesday, August 7th. Finally, Barclays lowered their target price on MacroGenics from $14.00 to $9.00 and set an “overweight” rating on the stock in a report on Monday, July 29th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $8.11.

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.