Susquehanna Fundamental Investments LLC Increases Stock Position in MacroGenics, Inc. (NASDAQ:MGNX)

Susquehanna Fundamental Investments LLC increased its holdings in MacroGenics, Inc. (NASDAQ:MGNX) by 22.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 129,996 shares of the biopharmaceutical company’s stock after acquiring an additional 24,209 shares during the quarter. Susquehanna Fundamental Investments LLC’s holdings in MacroGenics were worth $552,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. ProShare Advisors LLC lifted its position in MacroGenics by 8.9% during the 1st quarter. ProShare Advisors LLC now owns 15,282 shares of the biopharmaceutical company’s stock worth $225,000 after acquiring an additional 1,246 shares during the period. Diversified Trust Co raised its stake in shares of MacroGenics by 16.0% during the first quarter. Diversified Trust Co now owns 13,630 shares of the biopharmaceutical company’s stock worth $201,000 after purchasing an additional 1,880 shares during the last quarter. EntryPoint Capital LLC purchased a new stake in shares of MacroGenics during the first quarter worth approximately $40,000. CANADA LIFE ASSURANCE Co acquired a new stake in shares of MacroGenics during the first quarter worth $52,000. Finally, Principal Financial Group Inc. grew its position in MacroGenics by 1.1% in the 2nd quarter. Principal Financial Group Inc. now owns 348,421 shares of the biopharmaceutical company’s stock valued at $1,481,000 after buying an additional 3,818 shares during the last quarter. Hedge funds and other institutional investors own 96.89% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. BMO Capital Markets reduced their target price on shares of MacroGenics from $8.00 to $5.00 and set a “market perform” rating for the company in a research note on Wednesday, August 7th. BTIG Research downgraded shares of MacroGenics from a “buy” rating to a “neutral” rating in a research report on Thursday, August 1st. HC Wainwright reiterated a “neutral” rating and set a $4.00 target price on shares of MacroGenics in a research report on Wednesday, September 18th. Evercore ISI raised MacroGenics to a “strong-buy” rating in a report on Monday, September 16th. Finally, JMP Securities dropped their price objective on MacroGenics from $16.00 to $8.00 and set a “market outperform” rating on the stock in a report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, MacroGenics currently has a consensus rating of “Hold” and an average price target of $8.11.

MacroGenics Stock Performance

Shares of MGNX stock opened at $3.55 on Friday. The stock has a fifty day moving average price of $3.59 and a 200 day moving average price of $7.24. The stock has a market cap of $222.35 million, a PE ratio of -9.10 and a beta of 2.09. MacroGenics, Inc. has a 1 year low of $2.95 and a 1 year high of $21.88.

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

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.