Los Angeles Capital Management & Equity Research Inc. Acquires 46,270 Shares of MacroGenics Inc (MGNX)
Los Angeles Capital Management & Equity Research Inc. raised its holdings in MacroGenics Inc (NASDAQ:MGNX) by 156.4% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 75,850 shares of the biopharmaceutical company’s stock after acquiring an additional 46,270 shares during the period. Los Angeles Capital Management & Equity Research Inc.’s holdings in MacroGenics were worth $1,626,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Sun Life Financial INC bought a new stake in shares of MacroGenics in the 2nd quarter valued at $168,000. Algert Global LLC bought a new stake in shares of MacroGenics in the 2nd quarter valued at $203,000. Hussman Strategic Advisors Inc. bought a new stake in shares of MacroGenics in the 3rd quarter valued at $214,000. Metropolitan Life Insurance Co. NY boosted its stake in shares of MacroGenics by 33.7% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 13,178 shares of the biopharmaceutical company’s stock valued at $272,000 after purchasing an additional 3,323 shares during the last quarter. Finally, Fox Run Management L.L.C. bought a new stake in shares of MacroGenics in the 2nd quarter valued at $316,000. Hedge funds and other institutional investors own 91.62% of the company’s stock.
Several research analysts recently issued reports on the stock. ValuEngine raised shares of MacroGenics from a “hold” rating to a “buy” rating in a research note on Thursday, August 2nd. BidaskClub lowered shares of MacroGenics from a “hold” rating to a “sell” rating in a research note on Saturday, August 4th. HC Wainwright reissued a “buy” rating and set a $34.00 target price on shares of MacroGenics in a research note on Wednesday, August 8th. Cowen reissued a “buy” rating on shares of MacroGenics in a research note on Wednesday, August 8th. Finally, Zacks Investment Research lowered shares of MacroGenics from a “buy” rating to a “hold” rating in a research note on Saturday, August 11th. One analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company. MacroGenics currently has an average rating of “Buy” and an average target price of $31.00.
MacroGenics (NASDAQ:MGNX) last issued its earnings results on Wednesday, November 7th. The biopharmaceutical company reported ($0.81) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.29) by $0.48. The business had revenue of $20.80 million for the quarter, compared to analyst estimates of $6.18 million. MacroGenics had a negative net margin of 10.72% and a negative return on equity of 7.39%. Sell-side analysts expect that MacroGenics Inc will post -4.07 earnings per share for the current year.
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MacroGenics, Inc, a biopharmaceutical company, focuses on the discovery and development of antibody-based therapeutics for the treatment of cancer primarily by modulating the human immune system, as well as various autoimmune disorders and infectious diseases in the United States. The company's advanced clinical product candidate is Margetuximab, a monoclonal antibody, which is in Phase III clinical trial that targets human epidermal growth factor receptor 2-expressing tumors, such as various breast and gastroesophageal cancers.
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