Geode Capital Management LLC grew its stake in shares of MacroGenics Inc (NASDAQ:MGNX) by 0.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 298,159 shares of the biopharmaceutical company’s stock after acquiring an additional 2,472 shares during the quarter. Geode Capital Management LLC owned about 0.81% of MacroGenics worth $5,665,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas bought a new stake in shares of MacroGenics during the 4th quarter valued at $225,000. Private Capital Advisors Inc. bought a new stake in shares of MacroGenics during the 4th quarter valued at $332,000. Virtus Fund Advisers LLC bought a new stake in shares of MacroGenics during the 4th quarter valued at $343,000. Wells Fargo & Company MN lifted its position in shares of MacroGenics by 11.5% during the 3rd quarter. Wells Fargo & Company MN now owns 27,714 shares of the biopharmaceutical company’s stock valued at $513,000 after acquiring an additional 2,862 shares during the period. Finally, Cornerstone Capital Management Holdings LLC. lifted its position in shares of MacroGenics by 43.9% during the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 33,438 shares of the biopharmaceutical company’s stock valued at $617,000 after acquiring an additional 10,200 shares during the period. Hedge funds and other institutional investors own 80.03% of the company’s stock.
In other MacroGenics news, CFO James Karrels sold 5,000 shares of the company’s stock in a transaction dated Monday, March 5th. The stock was sold at an average price of $31.00, for a total value of $155,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Eric Blasius Risser sold 1,000 shares of the company’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $25.01, for a total value of $25,010.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 37,967 shares of company stock valued at $998,005. 8.82% of the stock is owned by corporate insiders.
Shares of MGNX stock opened at $24.67 on Wednesday. MacroGenics Inc has a twelve month low of $14.36 and a twelve month high of $32.74. The firm has a market cap of $993.69, a P/E ratio of -45.69 and a beta of 2.45.
MacroGenics (NASDAQ:MGNX) last announced its quarterly earnings data on Tuesday, February 27th. The biopharmaceutical company reported $2.80 earnings per share for the quarter, topping the consensus estimate of $2.58 by $0.22. MacroGenics had a negative return on equity of 8.22% and a negative net margin of 12.44%. The business had revenue of $152.36 million during the quarter, compared to the consensus estimate of $152.59 million. analysts predict that MacroGenics Inc will post -4.42 earnings per share for the current year.
A number of analysts have recently weighed in on the company. Zacks Investment Research downgraded MacroGenics from a “hold” rating to a “sell” rating in a research report on Friday, February 23rd. ValuEngine upgraded MacroGenics from a “sell” rating to a “hold” rating in a research report on Thursday, March 1st. Leerink Swann reiterated an “outperform” rating on shares of MacroGenics in a research report on Friday, April 6th. BidaskClub downgraded MacroGenics from a “sell” rating to a “strong sell” rating in a research report on Thursday, January 11th. Finally, Cowen reiterated a “buy” rating on shares of MacroGenics in a research report on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company’s stock. MacroGenics currently has an average rating of “Buy” and a consensus target price of $30.25.
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MacroGenics, Inc, a biopharmaceutical company, focuses on the discovery and development of antibody-based therapeutics for the treatment of cancer primarily by modulating the human immune system, as well as various autoimmune disorders and infectious diseases in the United States. The company's advanced clinical product candidate is Margetuximab, a monoclonal antibody, which is in Phase III clinical trial that targets human epidermal growth factor receptor 2-expressing tumors, such as various breast and gastroesophageal cancers.
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