K2 Principal Fund L.P. Invests $63,000 in MacroGenics, Inc. (NASDAQ:MGNX)

K2 Principal Fund L.P. acquired a new stake in shares of MacroGenics, Inc. (NASDAQ:MGNX) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 14,800 shares of the biopharmaceutical company’s stock, valued at approximately $63,000.

Several other hedge funds also recently bought and sold shares of MGNX. Bellevue Group AG grew its holdings in shares of MacroGenics by 1.5% in the fourth quarter. Bellevue Group AG now owns 9,953,313 shares of the biopharmaceutical company’s stock worth $95,751,000 after purchasing an additional 150,000 shares during the last quarter. Avoro Capital Advisors LLC bought a new stake in shares of MacroGenics during the first quarter valued at approximately $90,528,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of MacroGenics by 8,361.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,438,050 shares of the biopharmaceutical company’s stock valued at $35,889,000 after purchasing an additional 2,409,237 shares during the period. Frazier Life Sciences Management L.P. grew its stake in MacroGenics by 33.2% in the fourth quarter. Frazier Life Sciences Management L.P. now owns 2,401,704 shares of the biopharmaceutical company’s stock worth $23,104,000 after purchasing an additional 598,500 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in MacroGenics by 1.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 833,500 shares of the biopharmaceutical company’s stock worth $8,018,000 after purchasing an additional 8,111 shares during the period. Institutional investors own 96.89% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. BMO Capital Markets lowered their target price on MacroGenics from $8.00 to $5.00 and set a “market perform” rating for the company in a report on Wednesday, August 7th. Guggenheim cut shares of MacroGenics from a “buy” rating to a “neutral” rating in a report on Wednesday, July 31st. StockNews.com lowered shares of MacroGenics from a “hold” rating to a “sell” rating in a report on Thursday, August 8th. BTIG Research downgraded shares of MacroGenics from a “buy” rating to a “neutral” rating in a research note on Thursday, August 1st. Finally, HC Wainwright reissued a “neutral” rating and set a $4.00 price objective on shares of MacroGenics in a report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $8.11.

MacroGenics Stock Performance

Shares of MGNX opened at $3.06 on Tuesday. The stock has a 50-day moving average of $3.87 and a two-hundred day moving average of $7.84. The stock has a market cap of $191.66 million, a P/E ratio of -7.85 and a beta of 2.09. MacroGenics, Inc. has a one year low of $3.05 and a one year high of $21.88.

MacroGenics (NASDAQ:MGNX) last released 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 return on equity of 146.01% and a negative net margin of 332.47%. The firm had revenue of $10.80 million for the quarter, compared to analyst estimates of $24.14 million. Analysts predict that MacroGenics, Inc. will post -1.72 EPS for the current fiscal year.

MacroGenics 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.