Emerald Advisers Inc. PA cut its stake in shares of MacroGenics, Inc. (NASDAQ:MGNX) by 2.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 445,295 shares of the biopharmaceutical company’s stock after selling 9,050 shares during the period. Emerald Advisers Inc. PA owned approximately 1.21% of MacroGenics worth $8,229,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Legal & General Group Plc grew its holdings in shares of MacroGenics by 4.3% in the second quarter. Legal & General Group Plc now owns 7,925 shares of the biopharmaceutical company’s stock valued at $138,000 after purchasing an additional 328 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of MacroGenics by 1.0% in the first quarter. Ameriprise Financial Inc. now owns 49,059 shares of the biopharmaceutical company’s stock valued at $912,000 after purchasing an additional 485 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of MacroGenics by 2.9% in the second quarter. The Manufacturers Life Insurance Company now owns 26,485 shares of the biopharmaceutical company’s stock valued at $463,000 after purchasing an additional 743 shares in the last quarter. Cornerstone Capital Management Holdings LLC. grew its holdings in shares of MacroGenics by 3.8% in the second quarter. Cornerstone Capital Management Holdings LLC. now owns 23,238 shares of the biopharmaceutical company’s stock valued at $406,000 after purchasing an additional 848 shares in the last quarter. Finally, Jennison Associates LLC grew its holdings in shares of MacroGenics by 0.6% in the second quarter. Jennison Associates LLC now owns 189,970 shares of the biopharmaceutical company’s stock valued at $3,326,000 after purchasing an additional 1,062 shares in the last quarter. Institutional investors and hedge funds own 84.72% of the company’s stock.
In other news, SVP Jon Marc Wigginton sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 25th. The shares were sold at an average price of $20.00, for a total transaction of $200,000.00. Following the completion of the sale, the senior vice president now owns 40,000 shares in the company, valued at approximately $800,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 8.30% of the stock is currently owned by insiders.
A number of research analysts recently weighed in on the stock. Stifel Nicolaus restated a “buy” rating and issued a $34.00 price objective on shares of MacroGenics in a report on Tuesday, September 12th. Citigroup Inc. lifted their price objective on shares of MacroGenics from $18.00 to $22.00 and gave the company a “neutral” rating in a report on Friday. Cowen and Company restated a “buy” rating on shares of MacroGenics in a report on Friday, August 4th. ValuEngine cut shares of MacroGenics from a “sell” rating to a “strong sell” rating in a report on Thursday, August 3rd. Finally, BidaskClub downgraded shares of MacroGenics from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 12th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company’s stock. MacroGenics has an average rating of “Buy” and an average target price of $30.10.
Shares of MacroGenics, Inc. (MGNX) traded up $1.06 during trading on Monday, reaching $18.68. 285,600 shares of the company were exchanged, compared to its average volume of 261,654. MacroGenics, Inc. has a one year low of $14.36 and a one year high of $31.85.
MacroGenics (NASDAQ:MGNX) last issued its quarterly earnings data on Wednesday, November 8th. The biopharmaceutical company reported ($1.28) earnings per share for the quarter, missing the consensus estimate of ($1.09) by ($0.19). The company had revenue of $1.70 million for the quarter, compared to analysts’ expectations of $5.50 million. MacroGenics had a negative return on equity of 69.31% and a negative net margin of 1,526.55%. The firm’s quarterly revenue was down 48.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.97) EPS. equities research analysts forecast that MacroGenics, Inc. will post -2.34 EPS for the current fiscal year.
MacroGenics, Inc is a clinical-stage biopharmaceutical company focused on discovering and developing monoclonal antibody-based therapeutics for the treatment of cancer, as well as various autoimmune disorders and infectious diseases. The Company develops therapeutic product candidates using its antibody-based technology platforms and also in collaboration with other biopharmaceutical companies.
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