Bank of America Corp DE Raises Position in MacroGenics Inc (MGNX)

Share on StockTwits

Bank of America Corp DE increased its stake in MacroGenics Inc (NASDAQ:MGNX) by 21.9% during the 4th quarter, Holdings Channel reports. The firm owned 24,219 shares of the biopharmaceutical company’s stock after buying an additional 4,343 shares during the period. Bank of America Corp DE’s holdings in MacroGenics were worth $307,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of MGNX. Bellevue Group AG boosted its holdings in MacroGenics by 47.3% in the fourth quarter. Bellevue Group AG now owns 1,066,993 shares of the biopharmaceutical company’s stock worth $13,551,000 after purchasing an additional 342,691 shares during the last quarter. BB Biotech AG boosted its holdings in MacroGenics by 9.8% in the fourth quarter. BB Biotech AG now owns 3,283,272 shares of the biopharmaceutical company’s stock worth $41,698,000 after purchasing an additional 292,860 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in MacroGenics by 38.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 808,201 shares of the biopharmaceutical company’s stock worth $10,264,000 after purchasing an additional 225,690 shares during the last quarter. Rhenman & Partners Asset Management AB boosted its holdings in MacroGenics by 58.7% in the fourth quarter. Rhenman & Partners Asset Management AB now owns 542,186 shares of the biopharmaceutical company’s stock worth $6,886,000 after purchasing an additional 200,600 shares during the last quarter. Finally, BlackRock Inc. boosted its holdings in MacroGenics by 5.5% in the fourth quarter. BlackRock Inc. now owns 3,401,391 shares of the biopharmaceutical company’s stock worth $43,198,000 after purchasing an additional 176,135 shares during the last quarter. Institutional investors own 87.02% of the company’s stock.

MGNX has been the topic of several analyst reports. Citigroup cut shares of MacroGenics from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $22.00 to $10.00 in a research note on Monday, February 4th. Credit Suisse Group initiated coverage on shares of MacroGenics in a research note on Wednesday, April 17th. They set an “outperform” rating and a $29.00 price target on the stock. Nomura lifted their price target on shares of MacroGenics from $41.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, February 7th. Wedbush upgraded shares of MacroGenics from a “neutral” rating to an “outperform” rating and set a $26.00 price target on the stock in a research note on Friday, May 3rd. Finally, Raymond James upgraded shares of MacroGenics from an “underperform” rating to a “market perform” rating and set a $26.80 price target on the stock in a research note on Wednesday, February 6th. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company’s stock. MacroGenics presently has an average rating of “Buy” and a consensus price target of $32.07.

In other news, SVP Eric Blasius Risser sold 3,000 shares of the firm’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $18.38, for a total transaction of $55,140.00. Following the sale, the senior vice president now directly owns 33,806 shares in the company, valued at approximately $621,354.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.88% of the stock is owned by company insiders.

Shares of MacroGenics stock opened at $18.85 on Friday. The firm has a market cap of $914.62 million, a PE ratio of -4.50 and a beta of 2.90. MacroGenics Inc has a 1-year low of $9.87 and a 1-year high of $32.32. The company has a debt-to-equity ratio of 0.08, a quick ratio of 6.47 and a current ratio of 6.47.

MacroGenics (NASDAQ:MGNX) last announced its quarterly earnings data on Wednesday, May 1st. The biopharmaceutical company reported ($0.99) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.95) by ($0.04). The firm had revenue of $9.66 million for the quarter, compared to the consensus estimate of $11.46 million. MacroGenics had a negative net margin of 256.47% and a negative return on equity of 57.65%. As a group, equities analysts expect that MacroGenics Inc will post -3.7 EPS for the current fiscal year.

TRADEMARK VIOLATION WARNING: “Bank of America Corp DE Raises Position in MacroGenics Inc (MGNX)” was originally posted by Zolmax and is the property of of Zolmax. If you are reading this story on another domain, it was illegally copied and republished in violation of international copyright and trademark laws. The legal version of this story can be viewed at https://zolmax.com/investing/bank-of-america-corp-de-raises-position-in-macrogenics-inc-mgnx/3094650.html.

MacroGenics Profile

MacroGenics, Inc, a biopharmaceutical company, discovers and develops antibody-based therapeutics for the treatment of cancer in the United States. Its pipeline of immuno-oncology product candidates includes Margetuximab, a monoclonal antibody, which is in Phase III clinical trial that targets HER2-expressing tumors, such as various breast and gastroesophageal cancers.

Featured Article: Book Value Per Share in Stock Trading

Want to see what other hedge funds are holding MGNX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MacroGenics Inc (NASDAQ:MGNX).

Institutional Ownership by Quarter for MacroGenics (NASDAQ:MGNX)

Receive News & Ratings for MacroGenics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MacroGenics and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

Analysts Set Daily Mail and General Trust P L C  Price Target at $685.57
Analysts Set Daily Mail and General Trust P L C Price Target at $685.57
Novocure Ltd  Receives $52.00 Consensus Target Price from Brokerages
Novocure Ltd Receives $52.00 Consensus Target Price from Brokerages
PetIQ Inc  Given Average Rating of “Buy” by Analysts
PetIQ Inc Given Average Rating of “Buy” by Analysts
Banco Santander SA  Receives Average Recommendation of “Buy” from Brokerages
Banco Santander SA Receives Average Recommendation of “Buy” from Brokerages
Precision Drilling Corp  Receives Average Recommendation of “Buy” from Analysts
Precision Drilling Corp Receives Average Recommendation of “Buy” from Analysts
Alphabet Inc  Receives $1,324.41 Consensus PT from Analysts
Alphabet Inc Receives $1,324.41 Consensus PT from Analysts


 
© 2006-2019 Zolmax.