Affinity Asset Advisors LLC Raises Stock Position in MacroGenics, Inc. (NASDAQ:MGNX)

Affinity Asset Advisors LLC raised its position in MacroGenics, Inc. (NASDAQ:MGNX) by 220.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 80,000 shares of the biopharmaceutical company’s stock after buying an additional 55,000 shares during the period. MacroGenics comprises 0.8% of Affinity Asset Advisors LLC’s investment portfolio, making the stock its 29th biggest position. Affinity Asset Advisors LLC’s holdings in MacroGenics were worth $2,149,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Rafferty Asset Management LLC increased its holdings in MacroGenics by 10.8% in the second quarter. Rafferty Asset Management LLC now owns 122,291 shares of the biopharmaceutical company’s stock valued at $3,285,000 after buying an additional 11,922 shares in the last quarter. Squarepoint Ops LLC increased its stake in shares of MacroGenics by 45.6% during the first quarter. Squarepoint Ops LLC now owns 75,998 shares of the biopharmaceutical company’s stock worth $2,421,000 after purchasing an additional 23,803 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of MacroGenics during the second quarter worth about $62,000. Ameriprise Financial Inc. increased its stake in shares of MacroGenics by 4.8% during the first quarter. Ameriprise Financial Inc. now owns 24,909 shares of the biopharmaceutical company’s stock worth $793,000 after purchasing an additional 1,131 shares in the last quarter. Finally, Allianz Asset Management GmbH increased its stake in shares of MacroGenics by 24.0% during the first quarter. Allianz Asset Management GmbH now owns 118,059 shares of the biopharmaceutical company’s stock worth $3,761,000 after purchasing an additional 22,887 shares in the last quarter. 93.67% of the stock is owned by institutional investors.

In related news, SVP Thomas Spitznagel sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, July 16th. The shares were sold at an average price of $25.01, for a total transaction of $125,050.00. Following the sale, the senior vice president now directly owns 5,000 shares of the company’s stock, valued at approximately $125,050. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Target N. V. Biotech bought 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 28th. The shares were acquired at an average cost of $20.64 per share, for a total transaction of $2,064,000.00. The disclosure for this purchase can be found here. 7.90% of the stock is currently owned by insiders.

NASDAQ:MGNX traded up $0.25 on Thursday, hitting $21.19. The stock had a trading volume of 3,673 shares, compared to its average volume of 754,712. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of -9.52 and a beta of 2.23. The company has a fifty day moving average price of $22.53 and a two-hundred day moving average price of $26.45. MacroGenics, Inc. has a 1-year low of $18.16 and a 1-year high of $36.48.

MacroGenics (NASDAQ:MGNX) last posted its earnings results on Thursday, July 29th. The biopharmaceutical company reported ($0.66) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.38). The firm had revenue of $30.76 million during the quarter, compared to analyst estimates of $35.55 million. MacroGenics had a negative net margin of 109.07% and a negative return on equity of 41.16%. Analysts forecast that MacroGenics, Inc. will post -2.86 EPS for the current year.

MGNX has been the topic of a number of recent research reports. SVB Leerink restated a “buy” rating on shares of MacroGenics in a research report on Sunday, September 19th. BTIG Research initiated coverage on shares of MacroGenics in a research report on Wednesday, June 16th. They set a “buy” rating on the stock. Zacks Investment Research upgraded shares of MacroGenics from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a research report on Wednesday. Finally, HC Wainwright restated a “buy” rating and set a $41.00 price target on shares of MacroGenics in a research report on Monday, September 20th. One investment analyst has rated the stock with a sell rating and six have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $32.50.

MacroGenics Profile

MacroGenics, Inc is a clinical-stage biopharmaceutical company, which engages in discovering and developing antibody-based therapeutics designed to modulate the human immune response for the treatment of cancer. Its product pipeline includes Margetuximab, Flotetuzumab, Retifanlimab, Enoblituzumab, Tebotelimab, MGC018, MGD019, IMGC936, and MGD014 for infectious diseases.

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Institutional Ownership by Quarter for MacroGenics (NASDAQ:MGNX)

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