Cornercap Investment Counsel Inc. Trims Stock Holdings in MacroGenics, Inc. (NASDAQ:MGNX)

Cornercap Investment Counsel Inc. decreased its position in MacroGenics, Inc. (NASDAQ:MGNX) by 17.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,110 shares of the biopharmaceutical company’s stock after selling 6,233 shares during the period. Cornercap Investment Counsel Inc.’s holdings in MacroGenics were worth $280,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MGNX. Rhumbline Advisers raised its stake in shares of MacroGenics by 1.9% during the 1st quarter. Rhumbline Advisers now owns 95,416 shares of the biopharmaceutical company’s stock valued at $684,000 after buying an additional 1,781 shares during the last quarter. Royal Bank of Canada raised its stake in shares of MacroGenics by 57.1% during the 2nd quarter. Royal Bank of Canada now owns 5,922 shares of the biopharmaceutical company’s stock valued at $32,000 after buying an additional 2,153 shares during the last quarter. UBS Group AG raised its stake in shares of MacroGenics by 3.3% during the 4th quarter. UBS Group AG now owns 70,498 shares of the biopharmaceutical company’s stock valued at $473,000 after buying an additional 2,282 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of MacroGenics by 0.9% in the 3rd quarter. Principal Financial Group Inc. now owns 275,550 shares of the biopharmaceutical company’s stock valued at $1,284,000 after purchasing an additional 2,335 shares in the last quarter. Finally, BNP Paribas Arbitrage SA increased its stake in shares of MacroGenics by 3.6% in the 1st quarter. BNP Paribas Arbitrage SA now owns 81,941 shares of the biopharmaceutical company’s stock valued at $722,000 after purchasing an additional 2,841 shares in the last quarter. Hedge funds and other institutional investors own 96.89% of the company’s stock.

MacroGenics Price Performance

Shares of NASDAQ MGNX opened at $16.10 on Thursday. MacroGenics, Inc. has a 52-week low of $4.29 and a 52-week high of $21.88. The business’s 50 day moving average is $16.97 and its two-hundred day moving average is $11.50.

MacroGenics (NASDAQ:MGNX) last posted its quarterly earnings data on Thursday, March 7th. The biopharmaceutical company reported ($0.75) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.49). MacroGenics had a negative return on equity of 88.49% and a negative net margin of 15.42%. The company had revenue of $10.72 million for the quarter, compared to analysts’ expectations of $25.70 million. During the same period in the prior year, the company posted $0.21 EPS. Sell-side analysts expect that MacroGenics, Inc. will post -2.7 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Ezio Bonvini sold 13,316 shares of the business’s stock in a transaction on Friday, January 19th. The shares were sold at an average price of $12.00, for a total transaction of $159,792.00. Following the completion of the transaction, the senior vice president now owns 87,984 shares in the company, valued at $1,055,808. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other MacroGenics news, VP Jeffrey Stuart Peters sold 51,395 shares of the company’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $15.55, for a total value of $799,192.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Ezio Bonvini sold 13,316 shares of the company’s stock in a transaction on Friday, January 19th. The shares were sold at an average price of $12.00, for a total transaction of $159,792.00. Following the completion of the transaction, the senior vice president now owns 87,984 shares of the company’s stock, valued at approximately $1,055,808. The disclosure for this sale can be found here. Over the last quarter, insiders sold 94,151 shares of company stock worth $1,436,380. Corporate insiders own 10.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MGNX. HC Wainwright lowered MacroGenics from a “buy” rating to a “neutral” rating and lifted their price target for the company from $12.00 to $14.00 in a research note on Wednesday, February 14th. BTIG Research lifted their price objective on MacroGenics from $12.00 to $24.00 and gave the stock a “buy” rating in a report on Monday, March 4th. Barclays lifted their price objective on MacroGenics from $12.00 to $23.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. TheStreet cut MacroGenics from a “c” rating to a “d” rating in a report on Thursday, March 7th. Finally, TD Cowen upgraded MacroGenics from a “hold” rating to a “buy” rating in a report on Tuesday, April 9th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, MacroGenics currently has an average rating of “Moderate Buy” and an average price target of $17.00.

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.