Strs Ohio Invests $263,000 in MacroGenics, Inc. $MGNX

Key Points

• Strs Ohio has invested approximately $263,000 in MacroGenics, acquiring 207,200 shares of the biopharmaceutical company.
• Recent analyst ratings for MacroGenics show mixed results, with one firm downgrading the stock to a "sell" rating, while Barclays initiated coverage with an "overweight" rating and a $3.00 price target.
• MacroGenics reported a quarterly EPS of ($0.57), narrowly beating analyst expectations, but its revenue fell below forecasts at $22.24 million.

Strs Ohio bought a new stake in MacroGenics, Inc. (NASDAQ:MGNX - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 207,200 shares of the biopharmaceutical company's stock, valued at approximately $263,000. Strs Ohio owned about 0.33% of MacroGenics as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Nuveen LLC purchased a new stake in shares of MacroGenics during the 1st quarter worth $252,000. Acadian Asset Management LLC lifted its position in MacroGenics by 78.8% in the first quarter. Acadian Asset Management LLC now owns 2,308,649 shares of the biopharmaceutical company's stock valued at $2,923,000 after acquiring an additional 1,017,726 shares during the last quarter. Deutsche Bank AG raised its holdings in shares of MacroGenics by 3,803.2% in the first quarter. Deutsche Bank AG now owns 51,093 shares of the biopharmaceutical company's stock valued at $65,000 after buying an additional 49,784 shares during the last quarter. Exchange Traded Concepts LLC raised its holdings in shares of MacroGenics by 19.7% in the first quarter. Exchange Traded Concepts LLC now owns 58,434 shares of the biopharmaceutical company's stock valued at $74,000 after buying an additional 9,611 shares during the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of MacroGenics by 41.5% in the fourth quarter. Bank of America Corp DE now owns 201,151 shares of the biopharmaceutical company's stock valued at $654,000 after buying an additional 59,005 shares during the last quarter. Hedge funds and other institutional investors own 96.89% of the company's stock.

Analyst Ratings Changes

MGNX has been the topic of a number of recent analyst reports. Wall Street Zen lowered shares of MacroGenics from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. Barclays began coverage on shares of MacroGenics in a report on Wednesday, September 17th. They issued an "overweight" rating and a $3.00 price target on the stock. Finally, Leerink Partners reduced their price objective on shares of MacroGenics from $8.00 to $5.00 and set an "outperform" rating on the stock in a research note on Friday, August 15th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $3.60.

MacroGenics Price Performance

Shares of MGNX stock opened at $1.72 on Thursday. The firm has a fifty day moving average of $1.65 and a two-hundred day moving average of $1.57. MacroGenics, Inc. has a 1-year low of $0.99 and a 1-year high of $5.10. The firm has a market cap of $108.72 million, a P/E ratio of -3.02 and a beta of 1.63.

MacroGenics (NASDAQ:MGNX - Get Free Report) last posted its quarterly earnings results on Thursday, August 14th. The biopharmaceutical company reported ($0.57) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.59) by $0.02. MacroGenics had a negative net margin of 21.99% and a negative return on equity of 40.24%. The company had revenue of $22.24 million for the quarter, compared to the consensus estimate of $28.06 million. On average, sell-side analysts expect that MacroGenics, Inc. will post -1.06 EPS for the current year.

Insiders Place Their Bets

In other news, Director William K. Heiden acquired 49,500 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The shares were purchased at an average cost of $1.49 per share, for a total transaction of $73,755.00. Following the transaction, the director directly owned 111,000 shares in the company, valued at $165,390. This trade represents a 80.49% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 13.00% of the stock is currently owned by corporate insiders.

MacroGenics Profile

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.

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