Acadian Asset Management LLC Grows Position in MacroGenics, Inc. $MGNX

Key Points

• Acadian Asset Management LLC increased its stake in MacroGenics by 78.8% during the 1st quarter, owning 2,308,649 shares valued at approximately $2.92 million.
• Institutional investors collectively control 96.89% of MacroGenics' stock, highlighting significant institutional interest in the biopharmaceutical company.
• MacroGenics recently reported a quarterly loss of ($0.57) EPS, which was better than the consensus estimate, but fell short on revenue projections with $22.24 million reported against an expected $28.06 million.

Acadian Asset Management LLC increased its position in MacroGenics, Inc. (NASDAQ:MGNX - Free Report) by 78.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,308,649 shares of the biopharmaceutical company's stock after buying an additional 1,017,726 shares during the period. Acadian Asset Management LLC owned 3.66% of MacroGenics worth $2,923,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Bank of America Corp DE grew its stake in shares of MacroGenics by 41.5% in the 4th quarter. Bank of America Corp DE now owns 201,151 shares of the biopharmaceutical company's stock worth $654,000 after buying an additional 59,005 shares in the last quarter. Lazard Asset Management LLC purchased a new position in shares of MacroGenics during the fourth quarter valued at approximately $32,000. ProShare Advisors LLC boosted its position in shares of MacroGenics by 32.4% during the fourth quarter. ProShare Advisors LLC now owns 20,284 shares of the biopharmaceutical company's stock valued at $66,000 after buying an additional 4,963 shares during the period. Two Sigma Advisers LP lifted its stake in shares of MacroGenics by 7.1% during the 4th quarter. Two Sigma Advisers LP now owns 1,118,600 shares of the biopharmaceutical company's stock worth $3,635,000 after acquiring an additional 74,596 shares during the last quarter. Finally, Frazier Life Sciences Management L.P. lifted its stake in shares of MacroGenics by 5.5% during the 4th quarter. Frazier Life Sciences Management L.P. now owns 3,175,665 shares of the biopharmaceutical company's stock worth $10,321,000 after acquiring an additional 164,938 shares during the last quarter. Institutional investors own 96.89% of the company's stock.

Insiders Place Their Bets

In other news, Director William K. Heiden bought 49,500 shares of MacroGenics stock in a transaction that occurred on Wednesday, August 20th. The shares were purchased at an average price of $1.49 per share, with a total value of $73,755.00. Following the completion of the acquisition, the director directly owned 111,000 shares in the company, valued at $165,390. The trade was a 80.49% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 13.00% of the stock is currently owned by company insiders.

MacroGenics Stock Down 6.4%

MacroGenics stock traded down $0.11 during mid-day trading on Friday, reaching $1.62. 923,220 shares of the company's stock were exchanged, compared to its average volume of 1,028,018. The company has a market cap of $102.40 million, a P/E ratio of -2.84 and a beta of 1.63. MacroGenics, Inc. has a twelve month low of $0.99 and a twelve month high of $5.10. The company has a fifty day moving average of $1.63 and a 200-day moving average of $1.58.

MacroGenics (NASDAQ:MGNX - Get Free Report) last released its earnings results on Thursday, August 14th. The biopharmaceutical company reported ($0.57) EPS for the quarter, topping the consensus estimate of ($0.59) by $0.02. MacroGenics had a negative return on equity of 40.24% and a negative net margin of 21.99%.The firm had revenue of $22.24 million during the quarter, compared to analysts' expectations of $28.06 million. Equities research analysts expect that MacroGenics, Inc. will post -1.06 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have issued reports on MGNX. Barclays started coverage on shares of MacroGenics in a research report on Wednesday. They issued an "overweight" rating and a $3.00 price objective for the company. Leerink Partners reduced their price target on shares of MacroGenics from $8.00 to $5.00 and set an "outperform" rating for the company in a report on Friday, August 15th. Finally, Wall Street Zen cut MacroGenics from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $3.60.

About MacroGenics

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.