BlackRock Inc. Takes $21.62 Million Position in MacroGenics, Inc. $MGNX

Key Points

• BlackRock acquired 4.68 million MacroGenics shares worth approximately $21.62 million, giving it a 7.36% stake. Institutional investors collectively own 96.89% of the company.
• MacroGenics shares opened at $4.32, versus a 52-week range of $1.29 to $5.08. The company reported quarterly EPS of $0.31, beating estimates, but revenue of $32.83 million fell short of the $59.14 million consensus.
• Analyst sentiment remains mixed, with an average “Hold” rating and a $6.33 price target; B. Riley raised its target to $11 and maintained a “Buy” rating, while another firm reiterated a “Sell” rating.

BlackRock Inc. acquired a new position in MacroGenics, Inc. (NASDAQ:MGNX - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 4,679,229 shares of the biopharmaceutical company's stock, valued at approximately $21,618,000. BlackRock Inc. owned about 7.36% of MacroGenics as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Seven Fleet Capital Management LP bought a new position in shares of MacroGenics during the 1st quarter worth approximately $39,000. Qube Research & Technologies Ltd bought a new position in MacroGenics in the third quarter worth approximately $38,000. Engineers Gate Manager LP bought a new position in shares of MacroGenics in the 2nd quarter worth $28,000. Walleye Capital LLC acquired a new position in shares of MacroGenics during the second quarter valued at about $30,000. Finally, Cresset Asset Management LLC raised its holdings in shares of MacroGenics by 52.3% in the 2nd quarter. Cresset Asset Management LLC now owns 26,720 shares of the biopharmaceutical company's stock worth $32,000 after acquiring an additional 9,172 shares during the last quarter. 96.89% of the stock is owned by institutional investors.

MacroGenics Stock Performance

NASDAQ:MGNX opened at $4.32 on Thursday. MacroGenics, Inc. has a 52-week low of $1.29 and a 52-week high of $5.08. The firm has a market capitalization of $275.18 million, a price-to-earnings ratio of -19.64 and a beta of 1.22. The stock has a fifty day moving average of $4.21 and a 200 day moving average of $3.61.

MacroGenics (NASDAQ:MGNX - Get Free Report) last announced its earnings results on Thursday, August 13th. The biopharmaceutical company reported $0.31 earnings per share for the quarter, beating analysts' consensus estimates of ($0.08) by $0.39. MacroGenics had a negative net margin of 8.70% and a negative return on equity of 109.26%. The business had revenue of $32.83 million for the quarter, compared to the consensus estimate of $59.14 million. Equities analysts forecast that MacroGenics, Inc. will post -1.48 earnings per share for the current fiscal year.

Insider Buying and Selling at MacroGenics

In related news, VP Jeffrey Stuart Peters sold 31,105 shares of the firm's stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $4.15, for a total transaction of $129,085.75. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 13.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. B. Riley Financial upped their price target on MacroGenics from $9.00 to $11.00 and gave the stock a "buy" rating in a report on Monday, August 17th. Weiss Ratings reiterated a "sell (d-)" rating on shares of MacroGenics in a research note on Wednesday, August 5th. Two research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $6.33.

About MacroGenics

MacroGenics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of monoclonal antibody–based therapeutics for the treatment of cancer and autoimmune diseases. The company leverages proprietary Fc engineering technologies to enhance immune engagement and extend the activity of its antibodies. Since its founding in 2000, MacroGenics has advanced several product candidates through clinical trials, most notably margetuximab, a HER2-targeted antibody designed to improve outcomes in patients with HER2-positive breast cancer.

Central to MacroGenics' research platform are its ADAPTIR and Trident bispecific antibody technologies.

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