MacroGenics, Inc. $MGNX Shares Bought by Wasatch Advisors LP

Key Points

• Wasatch Advisors increased its MacroGenics stake by 29.4% in the second quarter, adding 459,180 shares to own 2.02 million shares valued at approximately $9.3 million, or 3.18% of the company.
• Institutional investors collectively own 96.89% of MacroGenics. The stock opened at $4.02, with a one-year range of $1.29 to $5.08 and a market capitalization of about $255.5 million.
• MacroGenics missed its latest quarterly EPS estimate, reporting a loss of $0.58 per share versus expectations of $0.57, while revenue exceeded forecasts. Analysts have a consensus “Hold” rating and a $5.50 target price.

Wasatch Advisors LP lifted its holdings in shares of MacroGenics, Inc. (NASDAQ:MGNX - Free Report) by 29.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,018,881 shares of the biopharmaceutical company's stock after acquiring an additional 459,180 shares during the quarter. Wasatch Advisors LP owned 3.18% of MacroGenics worth $9,327,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MGNX. Seven Fleet Capital Management LP acquired a new stake in MacroGenics during the 1st quarter valued at approximately $39,000. R Squared Ltd purchased a new stake in MacroGenics during the 4th quarter worth approximately $26,000. Qube Research & Technologies Ltd acquired a new position in shares of MacroGenics in the 3rd quarter valued at approximately $38,000. Engineers Gate Manager LP acquired a new position in shares of MacroGenics in the 2nd quarter valued at approximately $28,000. Finally, Walleye Capital LLC purchased a new position in shares of MacroGenics during the 2nd quarter valued at approximately $30,000. Hedge funds and other institutional investors own 96.89% of the company's stock.

MacroGenics Stock Performance

NASDAQ:MGNX opened at $4.02 on Thursday. The company has a market capitalization of $255.52 million, a price-to-earnings ratio of -3.65 and a beta of 1.20. MacroGenics, Inc. has a one year low of $1.29 and a one year high of $5.08. The stock has a 50-day simple moving average of $4.22 and a 200 day simple moving average of $3.36.

MacroGenics (NASDAQ:MGNX - Get Free Report) last announced its quarterly earnings data on Wednesday, May 13th. The biopharmaceutical company reported ($0.58) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.57) by ($0.01). MacroGenics had a negative net margin of 44.79% and a negative return on equity of 147.80%. The firm had revenue of $20.77 million for the quarter, compared to analyst estimates of $15.24 million. On average, equities research analysts forecast that MacroGenics, Inc. will post -1.76 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of MacroGenics in a research report on Wednesday, August 5th. Barclays upped their price target on shares of MacroGenics from $4.00 to $6.00 and gave the company an "overweight" rating in a report on Monday, April 20th. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, MacroGenics currently has a consensus rating of "Hold" and a consensus target price of $5.50.

MacroGenics 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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