Armistice Capital LLC Purchases 364,000 Shares of MacroGenics, Inc. $MGNX

Armistice Capital LLC grew its position in MacroGenics, Inc. (NASDAQ:MGNX) by 6.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 6,324,000 shares of the biopharmaceutical company’s stock after acquiring an additional 364,000 shares during the period. Armistice Capital LLC owned 10.00% of MacroGenics worth $10,182,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. Walleye Capital LLC lifted its stake in shares of MacroGenics by 31.8% in the 4th quarter. Walleye Capital LLC now owns 33,180 shares of the biopharmaceutical company’s stock valued at $53,000 after acquiring an additional 8,000 shares during the last quarter. Cresset Asset Management LLC lifted its stake in shares of MacroGenics by 52.3% in the 2nd 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. State of Wyoming lifted its stake in shares of MacroGenics by 41.8% in the 2nd quarter. State of Wyoming now owns 31,557 shares of the biopharmaceutical company’s stock valued at $38,000 after acquiring an additional 9,295 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of MacroGenics by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 4,224,234 shares of the biopharmaceutical company’s stock valued at $7,097,000 after acquiring an additional 11,120 shares during the last quarter. Finally, R Squared Ltd bought a new position in shares of MacroGenics in the 4th quarter valued at $26,000. 96.89% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on MGNX. Citigroup reiterated a “market perform” rating on shares of MacroGenics in a research note on Tuesday, February 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of MacroGenics in a report on Friday, May 8th. Barclays increased their price target on MacroGenics from $4.00 to $6.00 and gave the stock an “overweight” rating in a report on Monday, April 20th. B. Riley Financial upgraded MacroGenics from a “neutral” rating to a “buy” rating and raised their target price for the company from $3.00 to $9.00 in a research note on Friday, April 10th. Finally, Wall Street Zen upgraded MacroGenics from a “sell” rating to a “hold” rating in a research note on Saturday, March 14th. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $5.50.

MacroGenics Stock Up 2.1%

MacroGenics stock opened at $3.96 on Thursday. MacroGenics, Inc. has a 52 week low of $1.18 and a 52 week high of $4.64. The company’s 50 day moving average price is $3.73 and its two-hundred day moving average price is $2.60. The stock has a market cap of $251.70 million, a P/E ratio of -3.60 and a beta of 1.18.

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

About MacroGenics

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.