Geode Capital Management LLC Sells 8,363 Shares of MacroGenics, Inc. (NASDAQ:MGNX)

Geode Capital Management LLC reduced its stake in MacroGenics, Inc. (NASDAQ:MGNX) by 0.6% during the 3rd quarter, HoldingsChannel reports. The fund owned 1,406,876 shares of the biopharmaceutical company’s stock after selling 8,363 shares during the quarter. Geode Capital Management LLC’s holdings in MacroGenics were worth $4,629,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Armistice Capital LLC grew its holdings in shares of MacroGenics by 150.0% during the second quarter. Armistice Capital LLC now owns 6,000,000 shares of the biopharmaceutical company’s stock worth $25,500,000 after buying an additional 3,600,000 shares in the last quarter. Millennium Management LLC grew its stake in shares of MacroGenics by 3,473.7% during the 2nd quarter. Millennium Management LLC now owns 3,312,672 shares of the biopharmaceutical company’s stock worth $14,079,000 after acquiring an additional 3,219,977 shares in the last quarter. Frazier Life Sciences Management L.P. boosted its holdings in MacroGenics by 21.8% during the second quarter. Frazier Life Sciences Management L.P. now owns 3,010,727 shares of the biopharmaceutical company’s stock worth $12,796,000 after purchasing an additional 539,023 shares during the last quarter. Wasatch Advisors LP grew its position in MacroGenics by 3.4% in the third quarter. Wasatch Advisors LP now owns 2,535,802 shares of the biopharmaceutical company’s stock valued at $8,343,000 after purchasing an additional 84,005 shares in the last quarter. Finally, Vestal Point Capital LP increased its stake in MacroGenics by 3.8% in the 3rd quarter. Vestal Point Capital LP now owns 830,000 shares of the biopharmaceutical company’s stock valued at $2,731,000 after buying an additional 30,000 shares during the last quarter. 96.89% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on MGNX. JMP Securities cut MacroGenics from an “outperform” rating to a “market perform” rating in a report on Thursday, November 7th. Evercore ISI raised MacroGenics to a “strong-buy” rating in a research report on Monday, September 16th. StockNews.com raised shares of MacroGenics from a “sell” rating to a “buy” rating in a research note on Sunday, November 10th. Finally, HC Wainwright restated a “neutral” rating and set a $4.00 target price on shares of MacroGenics in a report on Wednesday, November 6th. Eight equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, MacroGenics presently has an average rating of “Hold” and a consensus price target of $7.63.

MacroGenics Price Performance

Shares of MacroGenics stock opened at $3.46 on Monday. MacroGenics, Inc. has a 1 year low of $2.95 and a 1 year high of $21.88. The company has a market capitalization of $217.16 million, a price-to-earnings ratio of -2.19 and a beta of 2.04. The business has a fifty day simple moving average of $3.51 and a two-hundred day simple moving average of $3.76.

MacroGenics Company 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.