PDT Partners LLC Grows Stock Holdings in MacroGenics, Inc. (NASDAQ:MGNX)

PDT Partners LLC grew its holdings in shares of MacroGenics, Inc. (NASDAQ:MGNX) by 44.5% during the third quarter, HoldingsChannel reports. The firm owned 160,039 shares of the biopharmaceutical company’s stock after purchasing an additional 49,288 shares during the quarter. PDT Partners LLC’s holdings in MacroGenics were worth $527,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. CANADA LIFE ASSURANCE Co purchased a new position in MacroGenics during the first quarter worth about $52,000. China Universal Asset Management Co. Ltd. increased its stake in shares of MacroGenics by 64.0% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 12,064 shares of the biopharmaceutical company’s stock valued at $40,000 after acquiring an additional 4,707 shares during the last quarter. DRW Securities LLC purchased a new position in shares of MacroGenics during the 2nd quarter worth about $56,000. K2 Principal Fund L.P. acquired a new stake in shares of MacroGenics in the second quarter worth approximately $63,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in MacroGenics by 300.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,072 shares of the biopharmaceutical company’s stock valued at $68,000 after purchasing an additional 12,060 shares during the period. Institutional investors and hedge funds own 96.89% of the company’s stock.

MacroGenics Stock Up 2.8 %

MGNX opened at $3.69 on Tuesday. The firm’s 50 day moving average is $3.66 and its 200-day moving average is $3.97. MacroGenics, Inc. has a 52-week low of $2.95 and a 52-week high of $21.88. The firm has a market capitalization of $231.60 million, a P/E ratio of -2.34 and a beta of 2.08.

Analyst Upgrades and Downgrades

MGNX has been the topic of a number of recent analyst reports. JMP Securities downgraded shares of MacroGenics from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 7th. BMO Capital Markets reduced their target price on MacroGenics from $8.00 to $5.00 and set a “market perform” rating on the stock in a report on Wednesday, August 7th. Citigroup cut their price objective on 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 research note on Wednesday, November 6th. Finally, Evercore ISI raised shares of MacroGenics to a “strong-buy” rating in a research report on Monday, September 16th. Eight investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, MacroGenics currently has an average rating of “Hold” and an average price target of $7.63.

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.