Bellevue Group AG Increases Position in MacroGenics, Inc. (NASDAQ:MGNX)

Bellevue Group AG lifted its stake in MacroGenics, Inc. (NASDAQ:MGNX) by 0.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,965,862 shares of the biopharmaceutical company’s stock after purchasing an additional 12,549 shares during the quarter. MacroGenics comprises approximately 2.2% of Bellevue Group AG’s holdings, making the stock its 13th largest position. Bellevue Group AG owned 15.91% of MacroGenics worth $146,697,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in MGNX. ProShare Advisors LLC raised its stake in MacroGenics by 8.9% during the first quarter. ProShare Advisors LLC now owns 15,282 shares of the biopharmaceutical company’s stock valued at $225,000 after buying an additional 1,246 shares during the last quarter. Diversified Trust Co grew its position in MacroGenics by 16.0% during the 1st quarter. Diversified Trust Co now owns 13,630 shares of the biopharmaceutical company’s stock valued at $201,000 after purchasing an additional 1,880 shares during the last quarter. EntryPoint Capital LLC purchased a new stake in MacroGenics during the 1st quarter valued at about $40,000. Mirae Asset Global Investments Co. Ltd. grew its position in MacroGenics by 7.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 49,337 shares of the biopharmaceutical company’s stock valued at $475,000 after purchasing an additional 3,319 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co bought a new position in shares of MacroGenics in the first quarter worth approximately $52,000. 96.89% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on MGNX shares. BTIG Research reduced their price target on shares of MacroGenics from $24.00 to $9.00 and set a “buy” rating for the company in a research report on Friday, May 24th. JMP Securities lowered their target price on shares of MacroGenics from $22.00 to $16.00 and set a “market outperform” rating on the stock in a research note on Friday, May 10th. BMO Capital Markets lowered shares of MacroGenics from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $24.00 to $8.00 in a research note on Friday, May 10th. HC Wainwright decreased their price objective on shares of MacroGenics from $16.00 to $4.00 and set a “neutral” rating for the company in a report on Monday, May 13th. Finally, Barclays dropped their target price on shares of MacroGenics from $25.00 to $14.00 and set an “overweight” rating on the stock in a report on Friday, May 10th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.00.

MacroGenics Trading Up 0.9 %

Shares of MGNX stock traded up $0.05 on Friday, reaching $5.55. The company’s stock had a trading volume of 631,316 shares, compared to its average volume of 926,417. The company has a market capitalization of $347.60 million, a price-to-earnings ratio of -14.23 and a beta of 2.08. The stock’s fifty day simple moving average is $4.56 and its 200-day simple moving average is $11.34. MacroGenics, Inc. has a 1 year low of $3.14 and a 1 year high of $21.88.

MacroGenics (NASDAQ:MGNX) last announced its earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.84) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.67) by ($0.17). The business had revenue of $9.10 million for the quarter, compared to analysts’ expectations of $13.63 million. MacroGenics had a negative net margin of 53.60% and a negative return on equity of 98.01%. Equities research analysts forecast that MacroGenics, Inc. will post -3.04 earnings per share for the current year.

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.