Vestal Point Capital LP lessened its holdings in MacroGenics, Inc. (NASDAQ:MGNX - Free Report) by 66.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 280,000 shares of the biopharmaceutical company's stock after selling 550,000 shares during the period. Vestal Point Capital LP owned about 0.45% of MacroGenics worth $910,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the business. Two Sigma Advisers LP raised its stake in shares of MacroGenics by 7.1% in the 4th quarter. Two Sigma Advisers LP now owns 1,118,600 shares of the biopharmaceutical company's stock valued at $3,635,000 after acquiring an additional 74,596 shares during the period. ProShare Advisors LLC increased its stake in MacroGenics by 32.4% during the 4th quarter. ProShare Advisors LLC now owns 20,284 shares of the biopharmaceutical company's stock worth $66,000 after buying an additional 4,963 shares during the period. Lazard Asset Management LLC purchased a new stake in MacroGenics during the 4th quarter worth $32,000. Cubist Systematic Strategies LLC purchased a new stake in MacroGenics during the 4th quarter worth $364,000. Finally, Bridgeway Capital Management LLC purchased a new stake in MacroGenics during the 4th quarter worth $338,000. Hedge funds and other institutional investors own 96.89% of the company's stock.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on MGNX shares. Wall Street Zen downgraded shares of MacroGenics from a "hold" rating to a "sell" rating in a research note on Thursday. B. Riley dropped their target price on shares of MacroGenics from $5.00 to $3.00 and set a "neutral" rating for the company in a research report on Tuesday. HC Wainwright dropped their target price on shares of MacroGenics from $4.00 to $2.00 and set a "neutral" rating for the company in a research report on Tuesday, March 25th. Stifel Nicolaus dropped their target price on shares of MacroGenics from $6.00 to $5.00 and set a "hold" rating for the company in a research report on Wednesday, May 14th. Finally, Barclays reissued an "overweight" rating and issued a $3.00 target price (down previously from $8.00) on shares of MacroGenics in a research report on Wednesday, May 14th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $6.13.
Get Our Latest Stock Analysis on MGNX
MacroGenics Stock Down 4.4%
Shares of MGNX traded down $0.07 during mid-day trading on Friday, hitting $1.51. 273,887 shares of the company's stock were exchanged, compared to its average volume of 802,840. The firm has a fifty day moving average of $1.49 and a two-hundred day moving average of $2.54. MacroGenics, Inc. has a twelve month low of $0.99 and a twelve month high of $5.77. The stock has a market cap of $95.27 million, a price-to-earnings ratio of -0.96 and a beta of 2.20.
MacroGenics (NASDAQ:MGNX - Get Free Report) last posted its quarterly earnings data on Tuesday, May 13th. The biopharmaceutical company reported ($0.65) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.61) by ($0.04). The firm had revenue of $13.19 million for the quarter, compared to the consensus estimate of $9.59 million. MacroGenics had a negative return on equity of 89.42% and a negative net margin of 69.07%. On average, equities analysts predict that MacroGenics, Inc. will post -1.06 earnings per share for the current year.
MacroGenics Company Profile
(
Free Report)
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.
Recommended Stories
Before you consider MacroGenics, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and MacroGenics wasn't on the list.
While MacroGenics currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
