MacroGenics, Inc. (NASDAQ:MGNX) Shares Sold by Millennium Management LLC

Millennium Management LLC reduced its position in MacroGenics, Inc. (NASDAQ:MGNX - Free Report) by 19.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,864,721 shares of the biopharmaceutical company's stock after selling 671,179 shares during the quarter. Millennium Management LLC owned about 4.56% of MacroGenics worth $9,310,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of MGNX. Wasatch Advisors LP lifted its stake in shares of MacroGenics by 37.6% during the fourth quarter. Wasatch Advisors LP now owns 3,488,493 shares of the biopharmaceutical company's stock worth $11,338,000 after buying an additional 952,691 shares during the period. Geode Capital Management LLC lifted its stake in shares of MacroGenics by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 1,433,217 shares of the biopharmaceutical company's stock worth $4,659,000 after buying an additional 26,341 shares during the period. Schonfeld Strategic Advisors LLC acquired a new stake in shares of MacroGenics during the fourth quarter worth $2,787,000. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of MacroGenics by 12.5% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 744,902 shares of the biopharmaceutical company's stock worth $2,421,000 after buying an additional 82,988 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake 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 buying an additional 221,905 shares during the period. 96.89% of the stock is owned by hedge funds and other institutional investors.

MacroGenics Stock Performance

MacroGenics stock traded down $0.10 during midday trading on Wednesday, hitting $1.39. 434,707 shares of the company's stock were exchanged, compared to its average volume of 795,729. MacroGenics, Inc. has a 12-month low of $0.99 and a 12-month high of $5.77. The stock has a market cap of $87.70 million, a price-to-earnings ratio of -0.88 and a beta of 2.20. The firm's 50 day simple moving average is $1.46 and its 200 day simple moving average is $2.49.

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 the consensus estimate of ($0.61) by ($0.04). MacroGenics had a negative return on equity of 89.42% and a negative net margin of 69.07%. The company had revenue of $13.19 million for the quarter, compared to analysts' expectations of $9.59 million. On average, equities research analysts forecast that MacroGenics, Inc. will post -1.06 EPS for the current fiscal year.

Wall Street Analyst Weigh In

MGNX has been the subject of a number of research reports. B. Riley decreased 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, May 20th. HC Wainwright decreased 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. Wall Street Zen downgraded shares of MacroGenics from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Barclays restated an "overweight" rating and set a $3.00 target price (down from $8.00) on shares of MacroGenics in a research report on Wednesday, May 14th. Finally, Stifel Nicolaus cut their price objective on shares of MacroGenics from $6.00 to $5.00 and set a "hold" rating for the company in a report on Wednesday, May 14th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $5.71.

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.