MacroGenics, Inc. (NASDAQ:MGNX) Shares Bought by Panagora Asset Management Inc.

Panagora Asset Management Inc. grew its position in shares of MacroGenics, Inc. (NASDAQ:MGNX) by 60.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 741,490 shares of the biopharmaceutical company’s stock after purchasing an additional 278,060 shares during the quarter. Panagora Asset Management Inc. owned approximately 1.18% of MacroGenics worth $3,151,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. EntryPoint Capital LLC purchased a new position in MacroGenics during the 1st quarter worth approximately $40,000. AJOVista LLC acquired a new position in shares of MacroGenics in the 4th quarter valued at $51,000. CANADA LIFE ASSURANCE Co purchased a new stake in MacroGenics in the 1st quarter valued at $52,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in MacroGenics by 300.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,072 shares of the biopharmaceutical company’s stock worth $68,000 after purchasing an additional 12,060 shares during the period. Finally, Sound Income Strategies LLC purchased a new position in MacroGenics during the 1st quarter worth $77,000. Institutional investors and hedge funds own 96.89% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research 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 report on Wednesday, August 7th. Citigroup decreased their price objective on MacroGenics from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. StockNews.com lowered MacroGenics from a “hold” rating to a “sell” rating in a report on Thursday, August 8th. Stifel Nicolaus cut MacroGenics from a “buy” rating to a “hold” rating and cut their price target for the stock from $29.00 to $7.00 in a research note on Friday, May 10th. Finally, JMP Securities lowered their price objective on shares of MacroGenics from $16.00 to $8.00 and set a “market outperform” rating on the stock in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, MacroGenics has an average rating of “Hold” and a consensus target price of $8.11.

MacroGenics Stock Up 1.2 %

Shares of NASDAQ MGNX traded up $0.04 during midday trading on Friday, hitting $3.51. The company had a trading volume of 1,276,665 shares, compared to its average volume of 1,722,819. The firm has a market capitalization of $219.84 million, a price-to-earnings ratio of -8.90 and a beta of 2.09. MacroGenics, Inc. has a twelve month low of $3.14 and a twelve month high of $21.88. The business has a 50-day simple moving average of $4.18 and a two-hundred day simple moving average of $9.73.

MacroGenics (NASDAQ:MGNX) last issued its earnings results on Tuesday, August 6th. The biopharmaceutical company reported ($0.89) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.42). MacroGenics had a negative net margin of 53.60% and a negative return on equity of 98.01%. The company had revenue of $10.80 million during the quarter, compared to analysts’ expectations of $24.14 million. On average, equities analysts forecast that MacroGenics, Inc. will post -2.19 EPS 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.