Armistice Capital LLC Grows Stock Holdings in MacroGenics, Inc. $MGNX

Armistice Capital LLC grew its position in shares of MacroGenics, Inc. (NASDAQ:MGNX) by 6.1% in the fourth quarter, Holdings Channel reports. The firm owned 6,324,000 shares of the biopharmaceutical company’s stock after purchasing an additional 364,000 shares during the period. Armistice Capital LLC owned about 0.10% of MacroGenics worth $10,182,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in MGNX. JPMorgan Chase & Co. grew its position in MacroGenics by 64.1% in the third quarter. JPMorgan Chase & Co. now owns 755,245 shares of the biopharmaceutical company’s stock worth $1,269,000 after acquiring an additional 295,108 shares in the last quarter. GSA Capital Partners LLP raised its stake in shares of MacroGenics by 740.5% during the fourth quarter. GSA Capital Partners LLP now owns 511,004 shares of the biopharmaceutical company’s stock valued at $823,000 after acquiring an additional 450,203 shares during the last quarter. Jefferies Financial Group Inc. bought a new position in shares of MacroGenics during the fourth quarter valued at about $2,964,000. Cresset Asset Management LLC raised its stake in shares of MacroGenics by 52.3% during the second quarter. Cresset Asset Management LLC now owns 26,720 shares of the biopharmaceutical company’s stock valued at $32,000 after acquiring an additional 9,172 shares during the last quarter. Finally, Walleye Capital LLC purchased a new position in shares of MacroGenics during the second quarter valued at about $30,000. 96.89% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MGNX has been the topic of several research analyst reports. Barclays boosted their price target on shares of MacroGenics from $4.00 to $6.00 and gave the company an “overweight” rating in a research report on Monday, April 20th. B. Riley Financial upgraded shares of MacroGenics from a “neutral” rating to a “buy” rating and increased their price target for the company from $3.00 to $9.00 in a report on Friday, April 10th. Wall Street Zen upgraded shares of MacroGenics from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. Citigroup reiterated a “market perform” rating on shares of MacroGenics in a research report on Tuesday, February 24th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of MacroGenics in a research report on Friday, May 8th. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, MacroGenics currently has an average rating of “Hold” and an average price target of $5.50.

MacroGenics Stock Performance

MGNX opened at $3.96 on Thursday. MacroGenics, Inc. has a fifty-two week low of $1.18 and a fifty-two week high of $4.64. The stock has a market capitalization of $251.70 million, a price-to-earnings ratio of -3.60 and a beta of 1.18. The company has a fifty day moving average of $3.73 and a 200 day moving average of $2.60.

MacroGenics (NASDAQ:MGNX) last issued its quarterly earnings data on Wednesday, May 13th. The biopharmaceutical company reported ($0.58) EPS for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.01). MacroGenics had a negative return on equity of 147.80% and a negative net margin of 44.79%.The business had revenue of $20.78 million during the quarter, compared to analysts’ expectations of $15.24 million. On average, equities research analysts forecast that MacroGenics, Inc. will post -1.76 earnings per share for the current year.

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.