GSA Capital Partners LLP Increases Stock Position in MacroGenics, Inc. (NASDAQ:MGNX)

Key Points

• GSA Capital Partners LLP increased its stake in MacroGenics, Inc. by 81.9% during the first quarter, owning approximately 0.71% of the company valued at $570,000.
• MacroGenics reported a quarterly loss of ($0.65) earnings per share, missing analyst estimates, but had revenue of $13.19 million which exceeded predictions.
• Analyst ratings for MacroGenics show mixed sentiments, with recent price targets lowered and an average rating of "Hold," while Barclays set a new target price of $3.00.

GSA Capital Partners LLP increased its holdings in shares of MacroGenics, Inc. (NASDAQ:MGNX - Free Report) by 81.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 448,530 shares of the biopharmaceutical company's stock after purchasing an additional 201,926 shares during the quarter. GSA Capital Partners LLP owned approximately 0.71% of MacroGenics worth $570,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Wellington Management Group LLP lifted its stake in shares of MacroGenics by 5.4% during the fourth quarter. Wellington Management Group LLP now owns 323,857 shares of the biopharmaceutical company's stock worth $1,053,000 after purchasing an additional 16,717 shares in the last quarter. Lazard Asset Management LLC bought a new position in MacroGenics in the fourth quarter worth about $32,000. JPMorgan Chase & Co. grew its position in shares of MacroGenics by 68.3% during the fourth quarter. JPMorgan Chase & Co. now owns 546,807 shares of the biopharmaceutical company's stock worth $1,777,000 after acquiring an additional 221,905 shares during the last quarter. Wells Fargo & Company MN grew its stake in shares of MacroGenics by 45.4% in the fourth quarter. Wells Fargo & Company MN now owns 29,838 shares of the biopharmaceutical company's stock worth $97,000 after purchasing an additional 9,312 shares in the last quarter. Finally, MetLife Investment Management LLC raised its holdings in MacroGenics by 162.8% during the fourth quarter. MetLife Investment Management LLC now owns 39,669 shares of the biopharmaceutical company's stock worth $129,000 after purchasing an additional 24,576 shares in the last quarter. Hedge funds and other institutional investors own 96.89% of the company's stock.

MacroGenics Trading Down 1.6%

NASDAQ MGNX traded down $0.03 on Thursday, hitting $1.59. 151,898 shares of the company traded hands, compared to its average volume of 935,931. The business's 50 day moving average price is $1.50 and its 200-day moving average price is $1.83. MacroGenics, Inc. has a 52-week low of $0.99 and a 52-week high of $5.10. The company has a market capitalization of $100.00 million, a price-to-earnings ratio of -1.78 and a beta of 1.65.

MacroGenics (NASDAQ:MGNX - Get Free Report) last issued its earnings results on Tuesday, May 13th. The biopharmaceutical company reported ($0.65) EPS for the quarter, missing analysts' consensus estimates of ($0.61) by ($0.04). The company had revenue of $13.19 million during the quarter, compared to the consensus estimate of $9.59 million. MacroGenics had a negative return on equity of 59.84% and a negative net margin of 36.23%. As a group, sell-side analysts predict that MacroGenics, Inc. will post -1.06 earnings per share for the current year.

Wall Street Analysts Forecast Growth

MGNX has been the subject of a number of research analyst reports. Stifel Nicolaus reduced their target price on MacroGenics from $6.00 to $5.00 and set a "hold" rating for the company in a report on Wednesday, May 14th. B. Riley decreased their price target on shares of MacroGenics from $5.00 to $3.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 20th. Barclays restated an "overweight" rating and set a $3.00 price target (down from $8.00) on shares of MacroGenics in a research report on Wednesday, May 14th. Finally, Wall Street Zen lowered shares of MacroGenics from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, MacroGenics currently has an average rating of "Hold" and a consensus target price of $5.33.

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.