Federated Hermes Inc. Sells 126,701 Shares of MacroGenics, Inc. (NASDAQ:MGNX)

Federated Hermes Inc. lowered its position in shares of MacroGenics, Inc. (NASDAQ:MGNX - Free Report) by 13.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 803,375 shares of the biopharmaceutical company's stock after selling 126,701 shares during the quarter. Federated Hermes Inc. owned approximately 1.30% of MacroGenics worth $7,728,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. SG Americas Securities LLC acquired a new stake in shares of MacroGenics during the third quarter worth $97,000. Strs Ohio grew its stake in shares of MacroGenics by 59.7% during the third quarter. Strs Ohio now owns 112,400 shares of the biopharmaceutical company's stock worth $523,000 after purchasing an additional 42,000 shares during the period. Principal Financial Group Inc. grew its stake in shares of MacroGenics by 0.9% during the third quarter. Principal Financial Group Inc. now owns 275,550 shares of the biopharmaceutical company's stock worth $1,284,000 after purchasing an additional 2,335 shares during the period. Los Angeles Capital Management LLC acquired a new stake in shares of MacroGenics during the third quarter worth $281,000. Finally, Barclays PLC grew its stake in shares of MacroGenics by 15.2% during the third quarter. Barclays PLC now owns 134,273 shares of the biopharmaceutical company's stock worth $624,000 after purchasing an additional 17,733 shares during the period. Institutional investors own 96.89% of the company's stock.

Wall Street Analysts Forecast Growth

MGNX has been the subject of a number of research analyst reports. HC Wainwright lowered MacroGenics from a "buy" rating to a "neutral" rating and boosted their price target for the company from $12.00 to $14.00 in a report on Wednesday, February 14th. TheStreet lowered MacroGenics from a "c" rating to a "d" rating in a report on Thursday, March 7th. JMP Securities restated a "market outperform" rating on shares of MacroGenics in a report on Thursday, April 4th. TD Cowen upgraded MacroGenics from a "hold" rating to a "buy" rating in a report on Tuesday, April 9th. Finally, BTIG Research boosted their price target on MacroGenics from $12.00 to $24.00 and gave the company a "buy" rating in a report on Monday, March 4th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $17.00.

MacroGenics Stock Down 8.5 %

Shares of MacroGenics stock traded down $1.33 on Thursday, hitting $14.37. The stock had a trading volume of 1,203,006 shares, compared to its average volume of 1,420,570. MacroGenics, Inc. has a twelve month low of $4.29 and a twelve month high of $21.88. The business's 50 day moving average is $16.79 and its two-hundred day moving average is $11.89. The stock has a market cap of $898.99 million, a price-to-earnings ratio of -89.81 and a beta of 2.09.

MacroGenics (NASDAQ:MGNX - Get Free Report) last issued its quarterly earnings results on Thursday, March 7th. The biopharmaceutical company reported ($0.75) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.26) by ($0.49). The company had revenue of $10.72 million for the quarter, compared to analyst estimates of $25.70 million. MacroGenics had a negative return on equity of 88.49% and a negative net margin of 15.42%. During the same period in the prior year, the company earned $0.21 EPS. As a group, equities analysts predict that MacroGenics, Inc. will post -2.7 earnings per share for the current fiscal year.

Insider Buying and Selling at MacroGenics

In other MacroGenics news, SVP Ezio Bonvini sold 13,316 shares of the firm's stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $15.00, for a total value of $199,740.00. Following the sale, the senior vice president now owns 74,668 shares of the company's stock, valued at approximately $1,120,020. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, SVP Ezio Bonvini sold 13,316 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $15.00, for a total value of $199,740.00. Following the completion of the transaction, the senior vice president now directly owns 74,668 shares in the company, valued at approximately $1,120,020. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Jeffrey Stuart Peters sold 51,395 shares of the stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $15.55, for a total value of $799,192.25. The disclosure for this sale can be found here. In the last quarter, insiders have sold 80,835 shares of company stock valued at $1,276,588. 11.30% of the stock is currently owned by corporate insiders.

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.