Trade Report: Today, Jennison Associates LLC Cuts Position in MacroGenics Inc. (MGNX)

Today, Jennison Associates LLC Cuts Position in MacroGenics Inc. (MGNX)

Jennison Associates LLC cut its position in shares of MacroGenics Inc. (NASDAQ:MGNX) by 0.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 195,111 shares of the biopharmaceutical company’s stock after selling 1,051 shares during the period. Jennison Associates LLC owned 0.56% of MacroGenics worth $5,836,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Teacher Retirement System of Texas increased its stake in MacroGenics by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 3,848 shares of the biopharmaceutical company’s stock valued at $104,000 after buying an additional 466 shares during the period. Wells Fargo & Company MN increased its stake in MacroGenics by 42.1% in the third quarter. Wells Fargo & Company MN now owns 13,029 shares of the biopharmaceutical company’s stock valued at $390,000 after buying an additional 3,858 shares during the period. Royal Bank of Canada increased its stake in MacroGenics by 1,122.9% in the second quarter. Royal Bank of Canada now owns 14,430 shares of the biopharmaceutical company’s stock valued at $390,000 after buying an additional 13,250 shares during the period. State Board of Administration of Florida Retirement System increased its stake in MacroGenics by 1.6% in the second quarter. State Board of Administration of Florida Retirement System now owns 15,981 shares of the biopharmaceutical company’s stock valued at $431,000 after buying an additional 253 shares during the period. Finally, American International Group Inc. increased its stake in MacroGenics by 0.4% in the second quarter. American International Group Inc. now owns 18,352 shares of the biopharmaceutical company’s stock valued at $495,000 after buying an additional 65 shares during the period. 83.33% of the stock is currently owned by institutional investors and hedge funds.

MacroGenics Inc. (NASDAQ:MGNX) remained flat at $27.91 during midday trading on Thursday. The stock had a trading volume of 394,583 shares. The stock’s market capitalization is $972.24 million. MacroGenics Inc. has a 52 week low of $14.84 and a 52 week high of $36.11. The company’s 50-day moving average is $26.29 and its 200-day moving average is $27.24.

MacroGenics (NASDAQ:MGNX) last announced its quarterly earnings data on Wednesday, November 2nd. The biopharmaceutical company reported ($0.97) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.80) by $0.17. MacroGenics had a negative net margin of 55.01% and a negative return on equity of 16.99%. The company had revenue of $3.30 million for the quarter, compared to analysts’ expectations of $12.45 million. During the same period in the previous year, the firm posted ($0.46) earnings per share. The business’s revenue for the quarter was down 77.6% on a year-over-year basis. Equities research analysts expect that MacroGenics Inc. will post ($1.57) earnings per share for the current fiscal year.

MGNX has been the topic of several analyst reports. Zacks Investment Research raised shares of MacroGenics from a “hold” rating to a “buy” rating and set a $33.00 price target on the stock in a research note on Wednesday, October 12th. Cowen and Company initiated coverage on shares of MacroGenics in a research note on Wednesday, September 7th. They set an “outperform” rating on the stock. Roth Capital reaffirmed a “buy” rating on shares of MacroGenics in a research note on Wednesday, November 16th. Wedbush reaffirmed an “outperform” rating and set a $52.00 price target on shares of MacroGenics in a research note on Thursday, November 3rd. Finally, TheStreet downgraded shares of MacroGenics from a “hold” rating to a “sell” rating in a research note on Tuesday, November 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $36.57.

In related news, CMO Jon Marc Wigginton sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $29.34, for a total transaction of $293,400.00. Following the transaction, the chief marketing officer now directly owns 10,000 shares of the company’s stock, valued at $293,400. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Lynn Cilinski sold 6,231 shares of the business’s stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $29.28, for a total transaction of $182,443.68. Following the transaction, the vice president now directly owns 8,154 shares in the company, valued at $238,749.12. The disclosure for this sale can be found here. Corporate insiders own 6.78% of the company’s stock.

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