Wells Fargo & Company MN Buys 9,312 Shares of MacroGenics, Inc. (NASDAQ:MGNX)

Wells Fargo & Company MN grew its stake in shares of MacroGenics, Inc. (NASDAQ:MGNX) by 45.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,838 shares of the biopharmaceutical company’s stock after purchasing an additional 9,312 shares during the period. Wells Fargo & Company MN’s holdings in MacroGenics were worth $97,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Geode Capital Management LLC boosted its stake in shares of MacroGenics by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 1,433,217 shares of the biopharmaceutical company’s stock valued at $4,659,000 after purchasing an additional 26,341 shares in the last quarter. Wellington Management Group LLP lifted its position in MacroGenics by 5.4% during the 4th quarter. Wellington Management Group LLP now owns 323,857 shares of the biopharmaceutical company’s stock valued at $1,053,000 after acquiring an additional 16,717 shares during the period. JPMorgan Chase & Co. lifted its position in MacroGenics by 68.3% during the 4th quarter. JPMorgan Chase & Co. now owns 546,807 shares of the biopharmaceutical company’s stock valued at $1,777,000 after acquiring an additional 221,905 shares during the period. American Century Companies Inc. purchased a new position in MacroGenics during the 4th quarter valued at about $38,000. Finally, Kazazian Asset Management LLC purchased a new position in MacroGenics during the 4th quarter valued at about $137,000. Institutional investors own 96.89% of the company’s stock.

Wall Street Analysts Forecast Growth

MGNX has been the subject of a number of recent research reports. StockNews.com cut shares of MacroGenics from a “buy” rating to a “hold” rating in a research report on Friday, March 21st. HC Wainwright lowered their price target on shares of MacroGenics from $4.00 to $2.00 and set a “neutral” rating for the company in a research report on Tuesday, March 25th. Seven investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, MacroGenics presently has a consensus rating of “Hold” and an average price target of $7.43.

MacroGenics Stock Performance

Shares of MacroGenics stock opened at $1.43 on Monday. The stock has a market capitalization of $90.22 million, a PE ratio of -0.91 and a beta of 2.20. MacroGenics, Inc. has a 52-week low of $0.99 and a 52-week high of $5.77. The company has a 50-day simple moving average of $1.63 and a two-hundred day simple moving average of $2.66.

MacroGenics (NASDAQ:MGNX) last issued its earnings results on Thursday, March 20th. The biopharmaceutical company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.02). The firm had revenue of $49.40 million during the quarter, compared to analysts’ expectations of $34.17 million. MacroGenics had a negative return on equity of 89.42% and a negative net margin of 69.07%. As a group, equities research analysts forecast that MacroGenics, Inc. will post -1.06 EPS for the current fiscal year.

About MacroGenics

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.