Intech Investment Management LLC Makes New Investment in MacroGenics, Inc. (NASDAQ:MGNX)

Intech Investment Management LLC acquired a new stake in MacroGenics, Inc. (NASDAQ:MGNX) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 20,763 shares of the biopharmaceutical company’s stock, valued at approximately $68,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. China Universal Asset Management Co. Ltd. grew its position in shares of MacroGenics by 64.0% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 12,064 shares of the biopharmaceutical company’s stock valued at $40,000 after purchasing an additional 4,707 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of MacroGenics during the 3rd quarter valued at about $55,000. DRW Securities LLC purchased a new position in shares of MacroGenics during the second quarter worth about $56,000. XML Financial LLC grew its holdings in shares of MacroGenics by 66.0% during the third quarter. XML Financial LLC now owns 17,600 shares of the biopharmaceutical company’s stock worth $58,000 after purchasing an additional 7,000 shares in the last quarter. Finally, K2 Principal Fund L.P. bought a new position in shares of MacroGenics in the 2nd quarter worth $63,000. Institutional investors own 96.89% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. JMP Securities cut MacroGenics from an “outperform” rating to a “market perform” rating in a report on Thursday, November 7th. Citigroup reduced their price objective on MacroGenics from $16.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. HC Wainwright reiterated a “neutral” rating and issued a $4.00 price objective on shares of MacroGenics in a report on Wednesday, November 6th. StockNews.com upgraded MacroGenics from a “sell” rating to a “buy” rating in a research report on Sunday, November 10th. Finally, Evercore ISI raised shares of MacroGenics to a “strong-buy” rating in a research note on Monday, September 16th. Eight research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, MacroGenics currently has an average rating of “Hold” and a consensus price target of $7.63.

MacroGenics Price Performance

Shares of MacroGenics stock opened at $3.50 on Monday. MacroGenics, Inc. has a 1 year low of $2.95 and a 1 year high of $21.88. The company has a 50-day moving average of $3.70 and a 200 day moving average of $3.93. The firm has a market cap of $219.66 million, a price-to-earnings ratio of -2.22 and a beta of 2.04.

MacroGenics Company Profile

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.