Man Group plc Invests $869,000 in MacroGenics, Inc. $MGNX

Man Group plc acquired a new position in MacroGenics, Inc. (NASDAQ:MGNX) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 188,189 shares of the biopharmaceutical company’s stock, valued at approximately $869,000. Man Group plc owned 0.30% of MacroGenics at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. purchased a new position in MacroGenics in the second quarter worth about $21,618,000. Jefferies Financial Group Inc. purchased a new position in shares of MacroGenics in the fourth quarter worth approximately $2,964,000. Renaissance Technologies LLC grew its position in MacroGenics by 71.0% during the fourth quarter. Renaissance Technologies LLC now owns 2,908,631 shares of the biopharmaceutical company’s stock valued at $4,683,000 after buying an additional 1,207,408 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new position in MacroGenics in the second quarter worth approximately $4,622,000. Finally, Marshall Wace LLP boosted its stake in shares of MacroGenics by 104.0% during the 4th quarter. Marshall Wace LLP now owns 1,284,563 shares of the biopharmaceutical company’s stock worth $2,068,000 after acquiring an additional 655,028 shares during the last quarter. Hedge funds and other institutional investors own 96.89% of the company’s stock.

Insider Transactions at MacroGenics

In other MacroGenics news, VP Jeffrey Peters sold 31,105 shares of the stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $4.15, for a total transaction of $129,085.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 13.60% of the stock is currently owned by insiders.

MacroGenics Price Performance

Shares of MGNX opened at $4.25 on Friday. MacroGenics, Inc. has a 1 year low of $1.29 and a 1 year high of $5.08. The company has a 50 day simple moving average of $4.21 and a two-hundred day simple moving average of $3.63. The firm has a market cap of $270.73 million, a P/E ratio of -19.32 and a beta of 1.22.

MacroGenics (NASDAQ:MGNX) last posted its earnings results on Thursday, August 13th. The biopharmaceutical company reported $0.31 earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.39. The company had revenue of $32.83 million during the quarter, compared to analysts’ expectations of $59.14 million. MacroGenics had a negative net margin of 8.70% and a negative return on equity of 109.26%. On average, sell-side analysts anticipate that MacroGenics, Inc. will post -1.48 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. B. Riley Financial upped their price target on MacroGenics from $9.00 to $11.00 and gave the stock a “buy” rating in a research report on Monday, August 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of MacroGenics in a research note on Wednesday, August 5th. Two equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $6.33.

MacroGenics Profile

MacroGenics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of monoclonal antibody–based therapeutics for the treatment of cancer and autoimmune diseases. The company leverages proprietary Fc engineering technologies to enhance immune engagement and extend the activity of its antibodies. Since its founding in 2000, MacroGenics has advanced several product candidates through clinical trials, most notably margetuximab, a HER2-targeted antibody designed to improve outcomes in patients with HER2-positive breast cancer.

Central to MacroGenics’ research platform are its ADAPTIR and Trident bispecific antibody technologies.