Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of MacroGenics, Inc. (NASDAQ:MGNX – Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,000,412 shares of the biopharmaceutical company’s stock, valued at approximately $4,622,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 1.57% of MacroGenics at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of MacroGenics during the second quarter worth $21,618,000. Deutsche Bank AG bought a new position in shares of MacroGenics in the 2nd quarter valued at $288,000. Persistent Asset Partners Ltd bought a new position in shares of MacroGenics in the 2nd quarter valued at $441,000. Bank of New York Mellon Corp acquired a new stake in shares of MacroGenics during the 2nd quarter valued at $626,000. Finally, Wasatch Advisors LP boosted its holdings in shares of MacroGenics by 29.4% during the 2nd quarter. Wasatch Advisors LP now owns 2,018,881 shares of the biopharmaceutical company’s stock valued at $9,327,000 after acquiring an additional 459,180 shares in the last quarter. Institutional investors own 96.89% of the company’s stock.
Analysts Set New Price Targets
A number of equities analysts have issued reports on MGNX shares. B. Riley Financial upped their target price on MacroGenics from $9.00 to $11.00 and gave the stock a “buy” rating in a report on Monday, August 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of MacroGenics in a research note on Wednesday, August 5th. Two research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $6.33.
MacroGenics Price Performance
MGNX opened at $4.08 on Friday. MacroGenics, Inc. has a fifty-two week low of $1.29 and a fifty-two week high of $5.08. The company’s 50 day moving average price is $4.25 and its two-hundred day moving average price is $3.54. The firm has a market capitalization of $259.90 million, a price-to-earnings ratio of -18.55 and a beta of 1.20.
MacroGenics (NASDAQ:MGNX – Get Free Report) last released its quarterly earnings results on Thursday, August 13th. The biopharmaceutical company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.39. MacroGenics had a negative net margin of 8.70% and a negative return on equity of 109.26%. The firm had revenue of $32.83 million during the quarter, compared to the consensus estimate of $59.14 million. As a group, equities research analysts predict that MacroGenics, Inc. will post -1.48 EPS for the current year.
Insider Transactions at MacroGenics
In related news, VP Jeffrey Stuart Peters sold 31,105 shares of the firm’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $4.15, for a total transaction of $129,085.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 13.60% of the stock is currently owned by corporate insiders.
MacroGenics Profile
MacroGenics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of monoclonal antibody–based therapeutics for the treatment of cancer and autoimmune diseases. The company leverages proprietary Fc engineering technologies to enhance immune engagement and extend the activity of its antibodies. Since its founding in 2000, MacroGenics has advanced several product candidates through clinical trials, most notably margetuximab, a HER2-targeted antibody designed to improve outcomes in patients with HER2-positive breast cancer.
Central to MacroGenics’ research platform are its ADAPTIR and Trident bispecific antibody technologies.
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