Price T Rowe Associates Inc. MD Decreases Holdings in MacroGenics, Inc. (NASDAQ:MGNX)

Price T Rowe Associates Inc. MD lowered its holdings in MacroGenics, Inc. (NASDAQ:MGNX) by 61.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 485,987 shares of the biopharmaceutical company’s stock after selling 768,249 shares during the quarter. Price T Rowe Associates Inc. MD owned about 0.77% of MacroGenics worth $1,581,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. MetLife Investment Management LLC increased its stake in MacroGenics by 162.8% in the fourth quarter. MetLife Investment Management LLC now owns 39,669 shares of the biopharmaceutical company’s stock valued at $129,000 after purchasing an additional 24,576 shares during the last quarter. Marshall Wace LLP raised its stake in MacroGenics by 3.2% during the 4th quarter. Marshall Wace LLP now owns 393,766 shares of the biopharmaceutical company’s stock worth $1,280,000 after acquiring an additional 12,250 shares in the last quarter. Wasatch Advisors LP lifted its position in MacroGenics by 37.6% in the fourth quarter. Wasatch Advisors LP now owns 3,488,493 shares of the biopharmaceutical company’s stock valued at $11,338,000 after acquiring an additional 952,691 shares during the last quarter. Jump Financial LLC purchased a new position in shares of MacroGenics during the fourth quarter worth about $44,000. Finally, XTX Topco Ltd lifted its holdings in shares of MacroGenics by 497.1% in the 4th quarter. XTX Topco Ltd now owns 66,742 shares of the biopharmaceutical company’s stock valued at $217,000 after purchasing an additional 55,564 shares during the last quarter. Institutional investors and hedge funds own 96.89% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on MGNX shares. HC Wainwright cut their price target on MacroGenics from $4.00 to $2.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 25th. StockNews.com downgraded shares of MacroGenics from a “buy” rating to a “hold” rating in a research report on Friday, March 21st. Nine investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $7.38.

MacroGenics Stock Up 3.0 %

Shares of MacroGenics stock opened at $1.54 on Friday. The company’s 50-day simple moving average is $1.65 and its 200-day simple moving average is $2.70. MacroGenics, Inc. has a 52-week low of $0.99 and a 52-week high of $14.91. The firm has a market cap of $96.84 million, a price-to-earnings ratio of -0.97 and a beta of 2.20.

MacroGenics (NASDAQ:MGNX) last announced its quarterly earnings data on Thursday, March 20th. The biopharmaceutical company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.02). The company had revenue of $49.40 million during the quarter, compared to analyst estimates of $34.17 million. MacroGenics had a negative net margin of 69.07% and a negative return on equity of 89.42%. Equities research analysts anticipate that MacroGenics, Inc. will post -1.06 EPS for the current year.

MacroGenics Company 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.