JPMorgan Chase & Co. Reduces Stock Position in MacroGenics, Inc. (NASDAQ:MGNX)

JPMorgan Chase & Co. cut its position in MacroGenics, Inc. (NASDAQ:MGNX) by 32.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 324,902 shares of the biopharmaceutical company’s stock after selling 155,359 shares during the period. JPMorgan Chase & Co. owned approximately 0.52% of MacroGenics worth $1,069,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of MGNX. Barclays PLC increased its holdings in MacroGenics by 97.1% in the 3rd quarter. Barclays PLC now owns 98,753 shares of the biopharmaceutical company’s stock worth $325,000 after buying an additional 48,639 shares during the period. XTX Topco Ltd purchased a new stake in shares of MacroGenics in the 3rd quarter valued at $37,000. Wellington Management Group LLP increased its stake in shares of MacroGenics by 15.7% in the third quarter. Wellington Management Group LLP now owns 307,140 shares of the biopharmaceutical company’s stock worth $1,010,000 after acquiring an additional 41,733 shares during the period. Stifel Financial Corp raised its holdings in shares of MacroGenics by 19.7% during the third quarter. Stifel Financial Corp now owns 39,888 shares of the biopharmaceutical company’s stock worth $131,000 after purchasing an additional 6,578 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its position in MacroGenics by 35.2% during the third quarter. Jacobs Levy Equity Management Inc. now owns 566,328 shares of the biopharmaceutical company’s stock valued at $1,863,000 after purchasing an additional 147,438 shares during the period. 96.89% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on MGNX. StockNews.com raised MacroGenics from a “sell” rating to a “buy” rating in a report on Sunday, November 10th. HC Wainwright reissued a “neutral” rating and issued a $4.00 price target on shares of MacroGenics in a report on Wednesday, November 6th. Finally, JMP Securities cut shares of MacroGenics from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 7th. Eight analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $7.63.

MacroGenics Stock Up 2.2 %

MGNX opened at $3.23 on Friday. The firm has a market cap of $202.71 million, a P/E ratio of -2.04 and a beta of 2.04. MacroGenics, Inc. has a 52 week low of $2.91 and a 52 week high of $21.88. The business has a fifty day simple moving average of $3.30 and a 200-day simple moving average of $3.65.

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.