Acadian Asset Management LLC Grows Position in MacroGenics Inc (MGNX)

Acadian Asset Management LLC increased its stake in MacroGenics Inc (NASDAQ:MGNX) by 2,597.8% in the first quarter, HoldingsChannel reports. The institutional investor owned 137,047 shares of the biopharmaceutical company’s stock after acquiring an additional 131,967 shares during the period. Acadian Asset Management LLC’s holdings in MacroGenics were worth $2,463,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. 683 Capital Management LLC raised its stake in MacroGenics by 14.7% in the fourth quarter. 683 Capital Management LLC now owns 384,970 shares of the biopharmaceutical company’s stock worth $4,889,000 after buying an additional 49,336 shares in the last quarter. Vanguard Group Inc. raised its stake in MacroGenics by 7.9% in the third quarter. Vanguard Group Inc. now owns 2,270,541 shares of the biopharmaceutical company’s stock worth $48,680,000 after buying an additional 165,937 shares in the last quarter. Morgan Stanley raised its stake in MacroGenics by 6.3% in the third quarter. Morgan Stanley now owns 114,926 shares of the biopharmaceutical company’s stock worth $2,464,000 after buying an additional 6,842 shares in the last quarter. BB Biotech AG raised its stake in MacroGenics by 9.8% in the fourth quarter. BB Biotech AG now owns 3,283,272 shares of the biopharmaceutical company’s stock worth $41,698,000 after buying an additional 292,860 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. raised its stake in MacroGenics by 6.7% in the fourth quarter. Los Angeles Capital Management & Equity Research Inc. now owns 80,965 shares of the biopharmaceutical company’s stock worth $1,028,000 after buying an additional 5,115 shares in the last quarter. 90.64% of the stock is owned by institutional investors.

A number of equities analysts recently issued reports on the stock. ValuEngine raised shares of MacroGenics from a “buy” rating to a “strong-buy” rating in a research note on Thursday, February 7th. Wedbush downgraded shares of MacroGenics from an “outperform” rating to a “neutral” rating in a research note on Thursday, February 7th. SunTrust Banks increased their price target on shares of MacroGenics to $40.00 and gave the stock a “buy” rating in a research note on Thursday, February 7th. Citigroup raised shares of MacroGenics from a “sell” rating to a “buy” rating and raised their target price for the company from $10.00 to $39.00 in a research note on Thursday, February 7th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $39.00 target price (up previously from $34.00) on shares of MacroGenics in a research note on Wednesday, February 6th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $31.98.

Shares of NASDAQ MGNX opened at $18.71 on Tuesday. MacroGenics Inc has a fifty-two week low of $9.87 and a fifty-two week high of $32.32. The company has a market cap of $876.70 million, a price-to-earnings ratio of -4.47 and a beta of 2.60. The company has a quick ratio of 6.47, a current ratio of 6.47 and a debt-to-equity ratio of 0.08.

MacroGenics (NASDAQ:MGNX) last announced its earnings results on Wednesday, May 1st. The biopharmaceutical company reported ($0.99) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.95) by ($0.04). MacroGenics had a negative net margin of 256.47% and a negative return on equity of 57.65%. The business had revenue of $9.66 million for the quarter, compared to the consensus estimate of $11.46 million. On average, sell-side analysts anticipate that MacroGenics Inc will post -3.7 EPS for the current year.

In other MacroGenics news, SVP Eric Blasius Risser sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $18.38, for a total transaction of $55,140.00. Following the completion of the transaction, the senior vice president now owns 33,806 shares of the company’s stock, valued at $621,354.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 7.88% of the stock is currently owned by company insiders.

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About MacroGenics

MacroGenics, Inc, a biopharmaceutical company, discovers and develops antibody-based therapeutics for the treatment of cancer in the United States. Its pipeline of immuno-oncology product candidates includes Margetuximab, a monoclonal antibody, which is in Phase III clinical trial that targets HER2-expressing tumors, such as various breast and gastroesophageal cancers.

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Institutional Ownership by Quarter for MacroGenics (NASDAQ:MGNX)

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