Granite Point Capital Management L.P. bought a new stake in shares of MacroGenics, Inc. (NASDAQ:MGNX) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 40,900 shares of the biopharmaceutical company’s stock, valued at approximately $756,000. Granite Point Capital Management L.P. owned approximately 0.11% of MacroGenics as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Jennison Associates LLC raised its holdings in shares of MacroGenics by 0.6% during the second quarter. Jennison Associates LLC now owns 189,970 shares of the biopharmaceutical company’s stock valued at $3,326,000 after acquiring an additional 1,062 shares in the last quarter. Tocqueville Asset Management L.P. raised its holdings in shares of MacroGenics by 33.3% during the third quarter. Tocqueville Asset Management L.P. now owns 100,000 shares of the biopharmaceutical company’s stock valued at $1,848,000 after acquiring an additional 25,000 shares in the last quarter. Schwab Charles Investment Management Inc. raised its holdings in shares of MacroGenics by 21.0% during the second quarter. Schwab Charles Investment Management Inc. now owns 148,792 shares of the biopharmaceutical company’s stock valued at $2,606,000 after acquiring an additional 25,823 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of MacroGenics by 2.8% during the second quarter. Vanguard Group Inc. now owns 1,391,322 shares of the biopharmaceutical company’s stock valued at $24,362,000 after acquiring an additional 38,458 shares in the last quarter. Finally, Hood River Capital Management LLC raised its holdings in shares of MacroGenics by 2.2% during the third quarter. Hood River Capital Management LLC now owns 588,799 shares of the biopharmaceutical company’s stock valued at $10,881,000 after acquiring an additional 12,606 shares in the last quarter. Institutional investors own 85.81% of the company’s stock.

In related news, SVP Jon Marc Wigginton sold 5,000 shares of the company’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $20.00, for a total value of $100,000.00. Following the sale, the senior vice president now directly owns 35,000 shares of the company’s stock, valued at $700,000. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 8.30% of the stock is owned by corporate insiders.

A number of equities analysts recently commented on MGNX shares. SunTrust Banks restated a “buy” rating and set a $26.00 target price on shares of MacroGenics in a report on Friday, September 1st. Stifel Nicolaus restated a “buy” rating and set a $34.00 target price on shares of MacroGenics in a report on Tuesday, September 12th. Cowen restated a “buy” rating on shares of MacroGenics in a report on Wednesday, October 25th. Zacks Investment Research raised MacroGenics from a “sell” rating to a “hold” rating in a research note on Tuesday, October 10th. Finally, Citigroup upped their price target on MacroGenics from $18.00 to $22.00 and gave the stock a “neutral” rating in a research note on Friday, November 10th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $30.10.

Shares of MacroGenics, Inc. (NASDAQ:MGNX) opened at $19.05 on Thursday. MacroGenics, Inc. has a 12 month low of $14.36 and a 12 month high of $28.48.

MacroGenics (NASDAQ:MGNX) last issued its quarterly earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($1.28) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.09) by ($0.19). The firm had revenue of $1.70 million during the quarter, compared to analysts’ expectations of $5.50 million. MacroGenics had a negative return on equity of 69.31% and a negative net margin of 1,526.55%. MacroGenics’s revenue for the quarter was down 48.5% on a year-over-year basis. During the same period in the previous year, the company earned ($0.97) earnings per share. research analysts anticipate that MacroGenics, Inc. will post -0.7 EPS for the current fiscal year.

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MacroGenics Company Profile

MacroGenics, Inc is a clinical-stage biopharmaceutical company focused on discovering and developing monoclonal antibody-based therapeutics for the treatment of cancer, as well as various autoimmune disorders and infectious diseases. The Company develops therapeutic product candidates using its antibody-based technology platforms and also in collaboration with other biopharmaceutical companies.

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Institutional Ownership by Quarter for MacroGenics (NASDAQ:MGNX)

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