MacroGenics, Inc. (NASDAQ:MGNX) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp raised its stake in shares of MacroGenics, Inc. (NASDAQ:MGNX) by 4.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 261,944 shares of the biopharmaceutical company’s stock after purchasing an additional 12,237 shares during the period. Bank of New York Mellon Corp owned 0.42% of MacroGenics worth $1,113,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of MGNX. EntryPoint Capital LLC purchased a new position in MacroGenics in the 1st quarter valued at about $40,000. CANADA LIFE ASSURANCE Co purchased a new position in shares of MacroGenics in the first quarter valued at approximately $52,000. Sound Income Strategies LLC acquired a new stake in shares of MacroGenics in the first quarter worth approximately $77,000. Diversified Trust Co increased its position in shares of MacroGenics by 32.8% during the second quarter. Diversified Trust Co now owns 18,097 shares of the biopharmaceutical company’s stock worth $77,000 after purchasing an additional 4,467 shares in the last quarter. Finally, Jump Financial LLC acquired a new position in MacroGenics in the 4th quarter valued at $135,000. Institutional investors and hedge funds own 96.89% of the company’s stock.

MacroGenics Stock Down 3.2 %

Shares of MacroGenics stock opened at $3.28 on Friday. The firm has a market cap of $205.44 million, a PE ratio of -8.41 and a beta of 2.09. MacroGenics, Inc. has a 52 week low of $3.14 and a 52 week high of $21.88. The business’s fifty day simple moving average is $3.93 and its 200-day simple moving average is $8.27.

MacroGenics (NASDAQ:MGNX) last posted its earnings results on Tuesday, August 6th. The biopharmaceutical company reported ($0.89) EPS for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.42). MacroGenics had a negative net margin of 332.47% and a negative return on equity of 146.01%. The company had revenue of $10.80 million during the quarter, compared to analyst estimates of $24.14 million. As a group, equities analysts expect that MacroGenics, Inc. will post -1.72 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on MGNX. BTIG Research cut shares of MacroGenics from a “buy” rating to a “neutral” rating in a research note on Thursday, August 1st. JMP Securities dropped their price objective on shares of MacroGenics from $16.00 to $8.00 and set a “market outperform” rating for the company in a research note on Wednesday, July 31st. B. Riley downgraded shares of MacroGenics from a “buy” rating to a “neutral” rating and cut their price objective for the company from $18.00 to $5.00 in a report on Wednesday, July 31st. BMO Capital Markets lowered their target price on MacroGenics from $8.00 to $5.00 and set a “market perform” rating on the stock in a report on Wednesday, August 7th. Finally, Guggenheim cut MacroGenics from a “buy” rating to a “neutral” rating in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $8.11.

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.