MacroGenics, Inc. (NASDAQ:MGNX) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. decreased its stake in MacroGenics, Inc. (NASDAQ:MGNX) by 47.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,342 shares of the biopharmaceutical company’s stock after selling 13,645 shares during the period. Russell Investments Group Ltd.’s holdings in MacroGenics were worth $148,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC grew its holdings in shares of MacroGenics by 64.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 40,834 shares of the biopharmaceutical company’s stock worth $393,000 after purchasing an additional 15,994 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in MacroGenics by 7.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 49,337 shares of the biopharmaceutical company’s stock worth $475,000 after buying an additional 3,319 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its position in MacroGenics by 349.2% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 7,174 shares of the biopharmaceutical company’s stock worth $69,000 after buying an additional 5,577 shares during the period. SG Americas Securities LLC lifted its stake in MacroGenics by 36.9% in the fourth quarter. SG Americas Securities LLC now owns 28,589 shares of the biopharmaceutical company’s stock valued at $275,000 after buying an additional 7,712 shares during the last quarter. Finally, Exchange Traded Concepts LLC boosted its holdings in shares of MacroGenics by 34.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 30,085 shares of the biopharmaceutical company’s stock valued at $289,000 after acquiring an additional 7,629 shares during the period. 96.89% of the stock is owned by hedge funds and other institutional investors.

MacroGenics Stock Performance

MacroGenics stock opened at $4.63 on Friday. The company has a market cap of $289.98 million, a P/E ratio of -11.87 and a beta of 2.09. MacroGenics, Inc. has a one year low of $3.14 and a one year high of $21.88. The business has a fifty day moving average of $13.46 and a two-hundred day moving average of $12.57.

MacroGenics (NASDAQ:MGNX) last announced its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($0.84) EPS for the quarter, missing the consensus estimate of ($0.67) by ($0.17). MacroGenics had a negative net margin of 53.60% and a negative return on equity of 98.01%. The company had revenue of $9.10 million during the quarter, compared to analyst estimates of $13.63 million. Sell-side analysts predict that MacroGenics, Inc. will post -3.04 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Barclays cut their target price on shares of MacroGenics from $25.00 to $14.00 and set an “overweight” rating on the stock in a report on Friday, May 10th. TD Cowen downgraded shares of MacroGenics from a “buy” rating to a “hold” rating in a research note on Friday, May 10th. BTIG Research boosted their price target on MacroGenics from $12.00 to $24.00 and gave the company a “buy” rating in a research report on Monday, March 4th. HC Wainwright decreased their price objective on MacroGenics from $16.00 to $4.00 and set a “neutral” rating for the company in a research report on Monday, May 13th. Finally, TheStreet lowered MacroGenics from a “c” rating to a “d” rating in a report on Thursday, March 7th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $13.67.

Insider Transactions at MacroGenics

In related news, VP Jeffrey Stuart Peters sold 51,395 shares of the firm’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $15.55, for a total value of $799,192.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 11.30% of the company’s stock.

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.