Man Group plc Takes $869,000 Position in MacroGenics, Inc. $MGNX

Man Group plc purchased a new position in MacroGenics, Inc. (NASDAQ:MGNX) in the second quarter, HoldingsChannel.com reports. The institutional investor purchased 188,189 shares of the biopharmaceutical company’s stock, valued at approximately $869,000.

A number of other hedge funds have also bought and sold shares of the company. Legal & General Group Plc bought a new position in shares of MacroGenics during the second quarter valued at approximately $28,000. Engineers Gate Manager LP purchased a new position in MacroGenics during the 2nd quarter valued at $28,000. Walleye Capital LLC bought a new position in MacroGenics in the 2nd quarter valued at $30,000. Cresset Asset Management LLC increased its stake in MacroGenics by 52.3% in the second quarter. Cresset Asset Management LLC now owns 26,720 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 9,172 shares during the period. Finally, Rangeley Capital LLC bought a new stake in shares of MacroGenics during the second quarter worth $33,000. Institutional investors own 96.89% of the company’s stock.

Insider Transactions at MacroGenics

In related news, VP Jeffrey Peters sold 31,105 shares of the firm’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $4.15, for a total value of $129,085.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 13.60% of the stock is owned by company insiders.

MacroGenics Price Performance

Shares of MGNX stock opened at $4.25 on Friday. MacroGenics, Inc. has a 1-year low of $1.29 and a 1-year high of $5.08. The stock’s 50-day moving average is $4.21 and its 200 day moving average is $3.63. The company has a market cap of $270.73 million, a P/E ratio of -19.32 and a beta of 1.22.

MacroGenics (NASDAQ:MGNX) last released its quarterly earnings results on Thursday, August 13th. The biopharmaceutical company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.39. The company had revenue of $32.83 million during the quarter, compared to analysts’ expectations of $59.14 million. MacroGenics had a negative return on equity of 109.26% and a negative net margin of 8.70%. On average, analysts anticipate that MacroGenics, Inc. will post -1.48 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MacroGenics in a research note on Wednesday, August 5th. B. Riley Financial increased their price objective on MacroGenics from $9.00 to $11.00 and gave the stock a “buy” rating in a research note on Monday, August 17th. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $6.33.

MacroGenics Company Profile

MacroGenics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of monoclonal antibody–based therapeutics for the treatment of cancer and autoimmune diseases. The company leverages proprietary Fc engineering technologies to enhance immune engagement and extend the activity of its antibodies. Since its founding in 2000, MacroGenics has advanced several product candidates through clinical trials, most notably margetuximab, a HER2-targeted antibody designed to improve outcomes in patients with HER2-positive breast cancer.

Central to MacroGenics’ research platform are its ADAPTIR and Trident bispecific antibody technologies.