MacroGenics, Inc. (NASDAQ:MGNX) Stock Holdings Lessened by Ikarian Capital LLC

Ikarian Capital LLC reduced its holdings in MacroGenics, Inc. (NASDAQ:MGNX) by 60.0% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 80,079 shares of the biopharmaceutical company’s stock after selling 120,000 shares during the quarter. Ikarian Capital LLC owned approximately 0.13% of MacroGenics worth $263,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of MGNX. Armistice Capital LLC lifted its position in shares of MacroGenics by 150.0% in the 2nd quarter. Armistice Capital LLC now owns 6,000,000 shares of the biopharmaceutical company’s stock worth $25,500,000 after buying an additional 3,600,000 shares during the last quarter. Millennium Management LLC lifted its position in shares of MacroGenics by 3,473.7% in the 2nd quarter. Millennium Management LLC now owns 3,312,672 shares of the biopharmaceutical company’s stock worth $14,079,000 after buying an additional 3,219,977 shares during the last quarter. Marshall Wace LLP lifted its position in shares of MacroGenics by 1,689.3% in the 2nd quarter. Marshall Wace LLP now owns 658,007 shares of the biopharmaceutical company’s stock worth $2,797,000 after buying an additional 621,232 shares during the last quarter. Frazier Life Sciences Management L.P. lifted its position in shares of MacroGenics by 21.8% in the 2nd quarter. Frazier Life Sciences Management L.P. now owns 3,010,727 shares of the biopharmaceutical company’s stock worth $12,796,000 after buying an additional 539,023 shares during the last quarter. Finally, Panagora Asset Management Inc. lifted its position in shares of MacroGenics by 60.0% in the 2nd quarter. Panagora Asset Management Inc. now owns 741,490 shares of the biopharmaceutical company’s stock worth $3,151,000 after buying an additional 278,060 shares during the last quarter. 96.89% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on MGNX. Evercore ISI raised shares of MacroGenics to a “strong-buy” rating in a report on Monday, September 16th. StockNews.com raised shares of MacroGenics from a “sell” rating to a “buy” rating in a report on Sunday, November 10th. Citigroup dropped their price objective on shares of MacroGenics from $16.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. HC Wainwright reaffirmed a “neutral” rating and issued a $4.00 price objective on shares of MacroGenics in a report on Wednesday, November 6th. Finally, BMO Capital Markets dropped their price objective on shares of MacroGenics from $8.00 to $5.00 and set a “market perform” rating on the stock in a report on Wednesday, August 7th. Eight investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $7.63.

MacroGenics Stock Down 3.0 %

MacroGenics stock traded down $0.11 during trading hours on Tuesday, hitting $3.58. 58,462 shares of the company traded hands, compared to its average volume of 1,416,478. The firm has a market cap of $224.68 million, a P/E ratio of -2.34 and a beta of 2.04. The firm’s 50-day simple moving average is $3.67 and its two-hundred day simple moving average is $3.96. MacroGenics, Inc. has a 1-year low of $2.95 and a 1-year high of $21.88.

About MacroGenics

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.