Cornercap Investment Counsel Inc. Lowers Holdings in MacroGenics, Inc. (NASDAQ:MGNX)

Cornercap Investment Counsel Inc. trimmed its position in MacroGenics, Inc. (NASDAQ:MGNX) by 17.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 29,110 shares of the biopharmaceutical company’s stock after selling 6,233 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in MacroGenics were worth $280,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Swiss National Bank grew its stake in shares of MacroGenics by 7.6% in the first quarter. Swiss National Bank now owns 115,800 shares of the biopharmaceutical company’s stock valued at $1,020,000 after buying an additional 8,200 shares in the last quarter. JPMorgan Chase & Co. increased its position in MacroGenics by 195.5% during the 1st quarter. JPMorgan Chase & Co. now owns 283,760 shares of the biopharmaceutical company’s stock worth $2,500,000 after purchasing an additional 187,724 shares during the period. Acadian Asset Management LLC acquired a new position in MacroGenics during the 1st quarter worth approximately $329,000. MetLife Investment Management LLC increased its position in MacroGenics by 58.3% during the 1st quarter. MetLife Investment Management LLC now owns 33,326 shares of the biopharmaceutical company’s stock worth $294,000 after purchasing an additional 12,267 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of MacroGenics by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 4,032,239 shares of the biopharmaceutical company’s stock worth $35,524,000 after acquiring an additional 86,061 shares in the last quarter. 96.89% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, VP Jeffrey Stuart Peters sold 16,124 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $17.22, for a total value of $277,655.28. Following the completion of the sale, the vice president now directly owns 8,895 shares in the company, valued at $153,171.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Jeffrey Stuart Peters sold 16,124 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $17.22, for a total transaction of $277,655.28. Following the completion of the transaction, the vice president now owns 8,895 shares of the company’s stock, valued at $153,171.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Ezio Bonvini sold 13,316 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $15.00, for a total transaction of $199,740.00. Following the transaction, the senior vice president now directly owns 74,668 shares of the company’s stock, valued at approximately $1,120,020. The disclosure for this sale can be found here. In the last three months, insiders have sold 94,151 shares of company stock worth $1,436,380. Corporate insiders own 10.00% of the company’s stock.

MacroGenics Stock Down 3.5 %

Shares of NASDAQ MGNX opened at $16.10 on Thursday. MacroGenics, Inc. has a 1 year low of $4.29 and a 1 year high of $21.88. The stock’s 50-day simple moving average is $16.97 and its 200-day simple moving average is $11.50.

MacroGenics (NASDAQ:MGNX) last announced its earnings results on Thursday, March 7th. The biopharmaceutical company reported ($0.75) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.49). MacroGenics had a negative return on equity of 88.49% and a negative net margin of 15.42%. The firm had revenue of $10.72 million for the quarter, compared to the consensus estimate of $25.70 million. During the same period in the previous year, the firm earned $0.21 EPS. Research analysts forecast that MacroGenics, Inc. will post -2.7 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on MGNX. HC Wainwright lowered MacroGenics from a “buy” rating to a “neutral” rating and upped their target price for the company from $12.00 to $14.00 in a research note on Wednesday, February 14th. JMP Securities restated a “market outperform” rating on shares of MacroGenics in a report on Thursday, April 4th. Citigroup upgraded MacroGenics from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $7.00 to $13.00 in a report on Wednesday, December 20th. TheStreet cut MacroGenics from a “c” rating to a “d” rating in a report on Thursday, March 7th. Finally, BTIG Research raised their price objective on MacroGenics from $12.00 to $24.00 and gave the stock a “buy” rating in a report on Monday, March 4th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, MacroGenics has an average rating of “Moderate Buy” and an average target price of $17.00.

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.