SPC Financial Inc. Buys New Shares in MacroGenics, Inc. (NASDAQ:MGNX)

SPC Financial Inc. bought a new stake in shares of MacroGenics, Inc. (NASDAQ:MGNX) in the 4th quarter, HoldingsChannel reports. The firm bought 37,750 shares of the biopharmaceutical company’s stock, valued at approximately $123,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of MacroGenics by 39.3% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 661,914 shares of the biopharmaceutical company’s stock valued at $2,178,000 after acquiring an additional 186,858 shares during the period. Barclays PLC raised its holdings in shares of MacroGenics by 97.1% during the third quarter. Barclays PLC now owns 98,753 shares of the biopharmaceutical company’s stock valued at $325,000 after acquiring an additional 48,639 shares during the period. SG Americas Securities LLC raised its holdings in shares of MacroGenics by 104.5% during the fourth quarter. SG Americas Securities LLC now owns 34,399 shares of the biopharmaceutical company’s stock valued at $112,000 after acquiring an additional 17,577 shares during the period. Jacobs Levy Equity Management Inc. increased its stake in MacroGenics by 35.2% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 566,328 shares of the biopharmaceutical company’s stock valued at $1,863,000 after buying an additional 147,438 shares during the period. Finally, Stifel Financial Corp increased its stake in MacroGenics by 19.7% in the 3rd quarter. Stifel Financial Corp now owns 39,888 shares of the biopharmaceutical company’s stock valued at $131,000 after buying an additional 6,578 shares during the period. 96.89% of the stock is owned by institutional investors and hedge funds.

MacroGenics Trading Up 2.6 %

NASDAQ MGNX opened at $2.38 on Thursday. The company has a fifty day simple moving average of $2.94 and a 200 day simple moving average of $3.33. The company has a market cap of $149.38 million, a P/E ratio of -1.51 and a beta of 2.02. MacroGenics, Inc. has a 1 year low of $2.15 and a 1 year high of $21.88.

Analysts Set New Price Targets

Several research firms have weighed in on MGNX. StockNews.com upgraded shares of MacroGenics from a “sell” rating to a “buy” rating in a research note on Sunday, November 10th. JMP Securities lowered shares of MacroGenics from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 7th. Finally, HC Wainwright reiterated a “neutral” rating and issued a $4.00 price objective on shares of MacroGenics in a research note on Wednesday, November 6th. Eight analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $7.63.

MacroGenics 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.