JPMorgan Chase & Co. Increases Stake in MacroGenics, Inc. $MGNX

Key Points

• JPMorgan Chase & Co. increased its stake in MacroGenics by 64.1% in Q3, buying 295,108 shares to hold 755,245 shares (about a 1.19% stake) valued at roughly $1.27 million per its latest 13F filing.
• MacroGenics beat expectations in its most recent quarter, reporting EPS of ($0.22) versus a ($0.42) consensus and revenue of $41.23M versus $27.81M, but remains unprofitable with a ~49.9% negative net margin.
• The stock trades near $3.44 (52-week range $1.10–$3.54) with a market cap of ~$218.6M; analysts have a consensus "Hold" rating with an average target of $3.80, and Barclays recently raised its price target to $4.00 with an "overweight" rating.

JPMorgan Chase & Co. increased its holdings in MacroGenics, Inc. (NASDAQ:MGNX - Free Report) by 64.1% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 755,245 shares of the biopharmaceutical company's stock after purchasing an additional 295,108 shares during the period. JPMorgan Chase & Co. owned approximately 1.19% of MacroGenics worth $1,269,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. SG Americas Securities LLC boosted its stake in shares of MacroGenics by 55.9% in the 3rd quarter. SG Americas Securities LLC now owns 17,179 shares of the biopharmaceutical company's stock valued at $29,000 after purchasing an additional 6,161 shares in the last quarter. Qube Research & Technologies Ltd purchased a new stake in MacroGenics during the 3rd quarter valued at about $38,000. Engineers Gate Manager LP purchased a new stake in MacroGenics during the 2nd quarter valued at about $28,000. Walleye Capital LLC purchased a new stake in MacroGenics during the 2nd quarter valued at about $30,000. Finally, Cresset Asset Management LLC boosted its holdings in MacroGenics by 52.3% during the 2nd quarter. Cresset Asset Management LLC now owns 26,720 shares of the biopharmaceutical company's stock valued at $32,000 after acquiring an additional 9,172 shares during the period. Hedge funds and other institutional investors own 96.89% of the company's stock.

MacroGenics Stock Performance

NASDAQ MGNX opened at $3.44 on Friday. MacroGenics, Inc. has a fifty-two week low of $1.10 and a fifty-two week high of $3.54. The stock has a 50 day simple moving average of $2.41 and a two-hundred day simple moving average of $1.90. The stock has a market cap of $218.63 million, a P/E ratio of -2.94 and a beta of 1.09.

MacroGenics (NASDAQ:MGNX - Get Free Report) last posted its earnings results on Monday, March 9th. The biopharmaceutical company reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.42) by $0.20. MacroGenics had a negative net margin of 49.91% and a negative return on equity of 120.19%. The firm had revenue of $41.23 million during the quarter, compared to analysts' expectations of $27.81 million. Sell-side analysts predict that MacroGenics, Inc. will post -1.06 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on MGNX shares. Weiss Ratings restated a "sell (d-)" rating on shares of MacroGenics in a report on Monday, December 22nd. Zacks Research cut shares of MacroGenics from a "strong-buy" rating to a "hold" rating in a research report on Thursday, January 1st. Wall Street Zen raised shares of MacroGenics from a "sell" rating to a "hold" rating in a research report on Saturday, March 14th. Barclays increased their price target on shares of MacroGenics from $3.00 to $4.00 and gave the company an "overweight" rating in a research report on Tuesday, March 10th. Finally, Citigroup reissued a "market perform" rating on shares of MacroGenics in a research report on Tuesday, February 24th. Two investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $3.80.

MacroGenics Company Profile

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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