EcoR1 Capital LLC Purchases New Shares in MacroGenics, Inc. $MGNX

EcoR1 Capital LLC acquired a new stake in MacroGenics, Inc. (NASDAQ:MGNX) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 1,602,717 shares of the biopharmaceutical company’s stock, valued at approximately $1,939,000. EcoR1 Capital LLC owned approximately 2.54% of MacroGenics at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Acadian Asset Management LLC boosted its position in shares of MacroGenics by 78.8% in the first quarter. Acadian Asset Management LLC now owns 2,308,649 shares of the biopharmaceutical company’s stock valued at $2,923,000 after acquiring an additional 1,017,726 shares during the period. Jane Street Group LLC boosted its holdings in MacroGenics by 207.7% in the 2nd quarter. Jane Street Group LLC now owns 758,204 shares of the biopharmaceutical company’s stock valued at $917,000 after purchasing an additional 511,777 shares during the period. Amundi bought a new stake in MacroGenics in the 1st quarter valued at about $272,000. Strs Ohio acquired a new position in shares of MacroGenics during the 1st quarter worth approximately $263,000. Finally, Nuveen LLC bought a new position in shares of MacroGenics during the first quarter worth approximately $252,000. Institutional investors and hedge funds own 96.89% of the company’s stock.

MacroGenics Stock Performance

Shares of MGNX opened at $1.40 on Friday. MacroGenics, Inc. has a 52-week low of $0.99 and a 52-week high of $3.60. The firm has a market cap of $88.56 million, a price-to-earnings ratio of -1.17 and a beta of 1.52. The business’s fifty day moving average is $1.57 and its 200-day moving average is $1.57.

MacroGenics (NASDAQ:MGNX) last announced its quarterly earnings data on Wednesday, November 12th. The biopharmaceutical company reported $0.27 earnings per share for the quarter, topping the consensus estimate of ($0.48) by $0.75. MacroGenics had a negative return on equity of 98.30% and a negative net margin of 59.46%.The business had revenue of $72.84 million during the quarter, compared to the consensus estimate of $28.72 million. As a group, research analysts forecast that MacroGenics, Inc. will post -1.06 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Leerink Partners cut their price target on MacroGenics from $8.00 to $5.00 and set an “outperform” rating for the company in a research note on Friday, August 15th. Barclays started coverage on MacroGenics in a research report on Wednesday, September 17th. They set an “overweight” rating and a $3.00 target price for the company. Zacks Research raised MacroGenics from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 13th. HC Wainwright reaffirmed a “neutral” rating and issued a $2.00 price target on shares of MacroGenics in a research note on Monday, November 3rd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MacroGenics in a research report on Monday. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $3.60.

MacroGenics Profile

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.