Bank of Montreal Can raised its position in shares of MacroGenics Inc (NASDAQ:MGNX) by 804.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,000 shares of the biopharmaceutical company’s stock after purchasing an additional 4,447 shares during the period. Bank of Montreal Can’s holdings in MacroGenics were worth $90,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Acadian Asset Management LLC acquired a new stake in shares of MacroGenics during the 4th quarter worth approximately $65,000. Great West Life Assurance Co. Can boosted its stake in MacroGenics by 148.6% in the 4th quarter. Great West Life Assurance Co. Can now owns 6,215 shares of the biopharmaceutical company’s stock valued at $76,000 after buying an additional 3,715 shares in the last quarter. Legal & General Group Plc boosted its stake in MacroGenics by 20.4% in the 4th quarter. Legal & General Group Plc now owns 7,432 shares of the biopharmaceutical company’s stock valued at $94,000 after buying an additional 1,261 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in MacroGenics by 62,661.5% in the 1st quarter. BNP Paribas Arbitrage SA now owns 8,159 shares of the biopharmaceutical company’s stock valued at $147,000 after buying an additional 8,146 shares in the last quarter. Finally, Sun Life Financial INC boosted its stake in MacroGenics by 58.0% in the 4th quarter. Sun Life Financial INC now owns 12,947 shares of the biopharmaceutical company’s stock valued at $164,000 after buying an additional 4,751 shares in the last quarter. 90.52% of the stock is currently owned by institutional investors and hedge funds.
Several analysts recently commented on MGNX shares. Zacks Investment Research lowered MacroGenics from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. ValuEngine lowered MacroGenics from a “buy” rating to a “hold” rating in a research note on Tuesday, March 5th. HC Wainwright reaffirmed a “buy” rating and issued a $39.00 price target on shares of MacroGenics in a research note on Thursday, April 4th. Guggenheim started coverage on MacroGenics in a research note on Friday, April 12th. They issued a “neutral” rating on the stock. Finally, Credit Suisse Group started coverage on MacroGenics in a research note on Wednesday, April 17th. They issued an “outperform” rating and a $29.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $31.62.
MacroGenics (NASDAQ:MGNX) last released its earnings results on Wednesday, May 1st. The biopharmaceutical company reported ($0.99) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.95) by ($0.04). The firm had revenue of $9.66 million for the quarter, compared to the consensus estimate of $11.46 million. MacroGenics had a negative return on equity of 57.65% and a negative net margin of 256.47%. As a group, analysts predict that MacroGenics Inc will post -3.75 earnings per share for the current year.
In related news, SVP Eric Blasius Risser sold 3,000 shares of the company’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $18.38, for a total value of $55,140.00. Following the completion of the sale, the senior vice president now owns 33,806 shares in the company, valued at $621,354.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 7.88% of the company’s stock.
MacroGenics Company Profile
MacroGenics, Inc, a biopharmaceutical company, discovers and develops antibody-based therapeutics for the treatment of cancer in the United States. Its pipeline of immuno-oncology product candidates includes Margetuximab, a monoclonal antibody, which is in Phase III clinical trial that targets HER2-expressing tumors, such as various breast and gastroesophageal cancers.
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