Exchange Traded Concepts LLC Has $161,000 Holdings in MacroGenics, Inc. (NASDAQ:MGNX)

Exchange Traded Concepts LLC increased its position in shares of MacroGenics, Inc. (NASDAQ:MGNX) by 260.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 48,823 shares of the biopharmaceutical company’s stock after purchasing an additional 35,291 shares during the period. Exchange Traded Concepts LLC owned about 0.08% of MacroGenics worth $161,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Avoro Capital Advisors LLC bought a new stake in MacroGenics in the 1st quarter valued at $90,528,000. Armistice Capital LLC boosted its position in shares of MacroGenics by 150.0% during the 2nd quarter. Armistice Capital LLC now owns 6,000,000 shares of the biopharmaceutical company’s stock valued at $25,500,000 after acquiring an additional 3,600,000 shares in the last quarter. Millennium Management LLC boosted its position in shares of MacroGenics by 3,473.7% during the 2nd quarter. Millennium Management LLC now owns 3,312,672 shares of the biopharmaceutical company’s stock valued at $14,079,000 after acquiring an additional 3,219,977 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in 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 acquiring an additional 2,409,237 shares during the period. Finally, Marshall Wace LLP raised its position in MacroGenics by 1,689.3% in the second quarter. Marshall Wace LLP now owns 658,007 shares of the biopharmaceutical company’s stock worth $2,797,000 after purchasing an additional 621,232 shares in the last quarter. 96.89% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. B. Riley lowered MacroGenics from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $18.00 to $5.00 in a research note on Wednesday, July 31st. Guggenheim cut MacroGenics from a “buy” rating to a “neutral” rating in a research report on Wednesday, July 31st. Citigroup cut their price objective on MacroGenics from $16.00 to $14.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Evercore ISI raised shares of MacroGenics to a “strong-buy” rating in a report on Monday, September 16th. Finally, StockNews.com downgraded shares of MacroGenics from a “hold” rating to a “sell” rating in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $8.11.

MacroGenics Trading Down 3.7 %

Shares of MGNX stock opened at $3.86 on Tuesday. MacroGenics, Inc. has a 1 year low of $2.95 and a 1 year high of $21.88. The firm’s 50 day moving average is $3.50 and its 200-day moving average is $6.28. The firm has a market capitalization of $241.76 million, a price-to-earnings ratio of -9.90 and a beta of 2.08.

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

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.