Frazier Life Sciences Management L.P. Acquires 598,500 Shares of MacroGenics, Inc. (NASDAQ:MGNX)

Frazier Life Sciences Management L.P. boosted its stake in shares of MacroGenics, Inc. (NASDAQ:MGNX) by 33.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,401,704 shares of the biopharmaceutical company’s stock after purchasing an additional 598,500 shares during the quarter. MacroGenics comprises approximately 1.2% of Frazier Life Sciences Management L.P.’s investment portfolio, making the stock its 22nd biggest position. Frazier Life Sciences Management L.P. owned about 3.87% of MacroGenics worth $23,104,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of MacroGenics by 7.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 49,337 shares of the biopharmaceutical company’s stock worth $475,000 after buying an additional 3,319 shares during the period. AJOVista LLC bought a new position in shares of MacroGenics during the fourth quarter worth approximately $51,000. China Universal Asset Management Co. Ltd. lifted its holdings in MacroGenics by 349.2% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 7,174 shares of the biopharmaceutical company’s stock worth $69,000 after purchasing an additional 5,577 shares during the last quarter. Wellington Management Group LLP boosted its stake in MacroGenics by 3.0% in the 3rd quarter. Wellington Management Group LLP now owns 248,520 shares of the biopharmaceutical company’s stock valued at $1,158,000 after purchasing an additional 7,215 shares during the period. Finally, Exchange Traded Concepts LLC grew its holdings in MacroGenics by 34.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 30,085 shares of the biopharmaceutical company’s stock valued at $289,000 after buying an additional 7,629 shares in the last quarter. 96.89% of the stock is owned by institutional investors.

MacroGenics Trading Down 6.2 %

NASDAQ MGNX traded down $0.31 during trading on Thursday, hitting $4.68. 1,038,491 shares of the company’s stock were exchanged, compared to its average volume of 2,001,369. The stock’s 50 day moving average price is $10.60 and its two-hundred day moving average price is $12.37. MacroGenics, Inc. has a fifty-two week low of $3.14 and a fifty-two week high of $21.88. The company has a market cap of $293.11 million, a PE ratio of -12.38 and a beta of 2.01.

MacroGenics (NASDAQ:MGNX) last issued its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($0.84) EPS for the quarter, missing the consensus estimate of ($0.67) by ($0.17). The company had revenue of $9.10 million during the quarter, compared to the consensus estimate of $13.63 million. MacroGenics had a negative net margin of 53.60% and a negative return on equity of 98.01%. Analysts forecast that MacroGenics, Inc. will post -3.04 earnings per share for the current fiscal year.

Insider Activity at MacroGenics

In other news, VP Jeffrey Stuart Peters sold 51,395 shares of the business’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $15.55, for a total transaction of $799,192.25. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 11.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on MGNX shares. Stifel Nicolaus cut shares of MacroGenics from a “buy” rating to a “hold” rating and reduced their target price for the company from $29.00 to $7.00 in a research report on Friday, May 10th. B. Riley started coverage on shares of MacroGenics in a research report on Friday, April 26th. They issued a “buy” rating and a $25.00 price target for the company. BTIG Research reduced their price target on MacroGenics from $24.00 to $9.00 and set a “buy” rating on the stock in a research report on Friday, May 24th. Barclays dropped their price objective on MacroGenics from $25.00 to $14.00 and set an “overweight” rating for the company in a report on Friday, May 10th. Finally, HC Wainwright cut their target price on MacroGenics from $16.00 to $4.00 and set a “neutral” rating for the company in a research report on Monday, May 13th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $12.00.

MacroGenics Company 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.