ProShare Advisors LLC Reduces Holdings in MacroGenics, Inc. (MGNX)
ProShare Advisors LLC lowered its stake in MacroGenics, Inc. (NASDAQ:MGNX) by 6.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 20,911 shares of the biopharmaceutical company’s stock after selling 1,426 shares during the period. ProShare Advisors LLC owned approximately 0.06% of MacroGenics worth $366,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently bought and sold shares of MGNX. Marshall Wace North America L.P. bought a new position in shares of MacroGenics in the first quarter valued at $4,514,000. MARSHALL WACE ASIA Ltd bought a new position in shares of MacroGenics in the first quarter valued at $4,514,000. DekaBank Deutsche Girozentrale increased its holdings in shares of MacroGenics by 1,027.0% in the second quarter. DekaBank Deutsche Girozentrale now owns 208,500 shares of the biopharmaceutical company’s stock valued at $3,649,000 after buying an additional 190,000 shares in the last quarter. State Street Corp increased its holdings in shares of MacroGenics by 20.0% in the first quarter. State Street Corp now owns 1,007,211 shares of the biopharmaceutical company’s stock valued at $18,732,000 after buying an additional 167,720 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new position in shares of MacroGenics in the first quarter valued at $2,435,000. 84.47% of the stock is currently owned by institutional investors.
Several research analysts have issued reports on the company. BidaskClub cut MacroGenics from a “sell” rating to a “strong sell” rating in a report on Saturday, August 12th. Morgan Stanley cut their target price on shares of MacroGenics from $22.00 to $21.00 and set an “equal weight” rating on the stock in a research note on Monday, August 7th. Cowen and Company reissued a “buy” rating on shares of MacroGenics in a research note on Friday, August 4th. Zacks Investment Research downgraded shares of MacroGenics from a “hold” rating to a “sell” rating in a research note on Wednesday, October 4th. Finally, ValuEngine downgraded shares of MacroGenics from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 3rd. Four research analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $30.30.
MacroGenics, Inc. (MGNX) opened at 17.92 on Monday. The stock has a 50 day moving average of $17.61 and a 200-day moving average of $18.19. The firm’s market capitalization is $659.42 million. MacroGenics, Inc. has a 1-year low of $14.36 and a 1-year high of $31.85.
MacroGenics (NASDAQ:MGNX) last issued its quarterly earnings data on Wednesday, August 2nd. The biopharmaceutical company reported ($1.14) EPS for the quarter, missing analysts’ consensus estimates of ($1.05) by ($0.09). MacroGenics had a negative return on equity of 56.81% and a negative net margin of 1,216.51%. The company had revenue of $1.70 million for the quarter, compared to analyst estimates of $15.82 million. During the same quarter in the previous year, the business earned $1.12 earnings per share. The company’s revenue was down 97.9% on a year-over-year basis. On average, equities research analysts anticipate that MacroGenics, Inc. will post ($4.42) earnings per share for the current year.
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MacroGenics, Inc is a clinical-stage biopharmaceutical company focused on discovering and developing monoclonal antibody-based therapeutics for the treatment of cancer, as well as various autoimmune disorders and infectious diseases. The Company develops therapeutic product candidates using its antibody-based technology platforms and also in collaboration with other biopharmaceutical companies.
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