MacroGenics, Inc. (MGNX) Shares Bought by Vanguard Group Inc.
Vanguard Group Inc. boosted its stake in MacroGenics, Inc. (NASDAQ:MGNX) by 2.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,391,322 shares of the biopharmaceutical company’s stock after buying an additional 38,458 shares during the period. Vanguard Group Inc. owned 3.78% of MacroGenics worth $24,362,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently modified their holdings of the company. Russell Investments Group Ltd. purchased a new stake in MacroGenics in the second quarter worth about $133,000. Legal & General Group Plc lifted its holdings in MacroGenics by 4.3% in the second quarter. Legal & General Group Plc now owns 7,925 shares of the biopharmaceutical company’s stock worth $138,000 after buying an additional 328 shares during the period. SG Americas Securities LLC lifted its holdings in MacroGenics by 92.2% in the second quarter. SG Americas Securities LLC now owns 10,812 shares of the biopharmaceutical company’s stock worth $189,000 after buying an additional 5,187 shares during the period. Citigroup Inc. lifted its holdings in MacroGenics by 8.4% in the second quarter. Citigroup Inc. now owns 18,975 shares of the biopharmaceutical company’s stock worth $332,000 after buying an additional 1,466 shares during the period. Finally, American International Group Inc. lifted its holdings in MacroGenics by 7.1% in the first quarter. American International Group Inc. now owns 19,632 shares of the biopharmaceutical company’s stock worth $365,000 after buying an additional 1,300 shares during the period. Institutional investors and hedge funds own 84.72% of the company’s stock.
In related news, SVP Jon Marc Wigginton sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 25th. The shares were sold at an average price of $20.00, for a total transaction of $200,000.00. Following the completion of the sale, the senior vice president now owns 40,000 shares of the company’s stock, valued at $800,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.30% of the stock is owned by company insiders.
MacroGenics, Inc. (NASDAQ:MGNX) opened at $17.85 on Tuesday. MacroGenics, Inc. has a 1-year low of $14.36 and a 1-year high of $31.85.
MacroGenics (NASDAQ:MGNX) last released its earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($1.28) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.09) by ($0.19). MacroGenics had a negative net margin of 1,526.55% and a negative return on equity of 69.31%. The business had revenue of $1.70 million for the quarter, compared to analysts’ expectations of $5.50 million. During the same quarter in the previous year, the business posted ($0.97) earnings per share. MacroGenics’s revenue for the quarter was down 48.5% on a year-over-year basis. analysts forecast that MacroGenics, Inc. will post -2.34 earnings per share for the current year.
Several analysts have commented on MGNX shares. Zacks Investment Research upgraded shares of MacroGenics from a “sell” rating to a “hold” rating and set a $19.00 price objective for the company in a report on Tuesday, July 18th. Stifel Nicolaus restated a “buy” rating and issued a $34.00 price objective on shares of MacroGenics in a report on Tuesday, September 12th. SunTrust Banks, Inc. restated a “buy” rating and issued a $26.00 price objective on shares of MacroGenics in a report on Friday, September 1st. Cowen and Company restated a “buy” rating on shares of MacroGenics in a report on Wednesday, October 25th. Finally, ValuEngine upgraded shares of MacroGenics from a “strong sell” rating to a “sell” rating in a report on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company. MacroGenics has a consensus rating of “Buy” and a consensus price target of $30.10.
MacroGenics Company Profile
MacroGenics, Inc is a clinical-stage biopharmaceutical company focused on discovering and developing monoclonal antibody-based therapeutics for the treatment of cancer, as well as various autoimmune disorders and infectious diseases. The Company develops therapeutic product candidates using its antibody-based technology platforms and also in collaboration with other biopharmaceutical companies.
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