SG Americas Securities LLC Boosts Stock Position in MacroGenics, Inc. (NASDAQ:MGNX)

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SG Americas Securities LLC grew its position in shares of MacroGenics, Inc. (NASDAQ:MGNX) by 273.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,604 shares of the biopharmaceutical company’s stock after buying an additional 23,146 shares during the period. SG Americas Securities LLC owned 0.05% of MacroGenics worth $662,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Marshall Wace North America L.P. purchased a new position in shares of MacroGenics during the 1st quarter valued at $59,000. Marshall Wace LLP purchased a new position in shares of MacroGenics during the 1st quarter valued at $80,000. Royal Bank of Canada lifted its position in shares of MacroGenics by 11.3% during the 2nd quarter. Royal Bank of Canada now owns 6,639 shares of the biopharmaceutical company’s stock valued at $178,000 after buying an additional 676 shares during the last quarter. Commonwealth Equity Services LLC lifted its position in shares of MacroGenics by 15.3% during the 2nd quarter. Commonwealth Equity Services LLC now owns 7,519 shares of the biopharmaceutical company’s stock valued at $201,000 after buying an additional 1,000 shares during the last quarter. Finally, Dark Forest Capital Management LP purchased a new position in shares of MacroGenics during the 2nd quarter valued at $210,000. 94.48% of the stock is currently owned by hedge funds and other institutional investors.

In other MacroGenics news, major shareholder Target N. V. Biotech acquired 200,000 shares of the company’s stock in a transaction on Friday, November 19th. The stock was acquired at an average price of $18.50 per share, for a total transaction of $3,700,000.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 7.90% of the company’s stock.

Shares of MGNX stock opened at $14.03 on Friday. The stock has a market capitalization of $859.45 million, a PE ratio of -5.85 and a beta of 2.06. MacroGenics, Inc. has a 1-year low of $13.93 and a 1-year high of $36.48. The business has a 50-day moving average of $17.45 and a 200 day moving average of $21.20.

MacroGenics (NASDAQ:MGNX) last released its quarterly earnings data on Tuesday, November 2nd. The biopharmaceutical company reported ($0.86) earnings per share for the quarter, missing the consensus estimate of ($0.63) by ($0.23). MacroGenics had a negative return on equity of 46.52% and a negative net margin of 126.03%. The business had revenue of $15.66 million during the quarter, compared to analysts’ expectations of $39.56 million. During the same quarter last year, the business posted ($0.66) EPS. Research analysts anticipate that MacroGenics, Inc. will post -3.26 EPS for the current fiscal year.

A number of brokerages have recently commented on MGNX. Zacks Investment Research cut MacroGenics from a “buy” rating to a “hold” rating in a research report on Saturday, November 6th. JMP Securities decreased their price objective on MacroGenics from $39.00 to $38.00 and set a “market outperform” rating on the stock in a research note on Wednesday, November 3rd. SVB Leerink reiterated a “buy” rating on shares of MacroGenics in a research note on Sunday, September 19th. HC Wainwright reiterated a “buy” rating and set a $41.00 price objective on shares of MacroGenics in a research note on Monday, September 20th. Finally, Guggenheim began coverage on MacroGenics in a research note on Wednesday, November 17th. They set a “buy” rating and a $30.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $32.88.

About MacroGenics

MacroGenics, Inc is a clinical-stage biopharmaceutical company, which engages in discovering and developing antibody-based therapeutics designed to modulate the human immune response for the treatment of cancer. Its product pipeline includes Margetuximab, Flotetuzumab, Retifanlimab, Enoblituzumab, Tebotelimab, MGC018, MGD019, IMGC936, and MGD014 for infectious diseases.

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