Vestal Point Capital LP Boosts Stake in MacroGenics, Inc. (NASDAQ:MGNX)

Vestal Point Capital LP boosted its holdings in MacroGenics, Inc. (NASDAQ:MGNX) by 3.8% in the 3rd quarter, HoldingsChannel reports. The fund owned 830,000 shares of the biopharmaceutical company’s stock after acquiring an additional 30,000 shares during the quarter. Vestal Point Capital LP’s holdings in MacroGenics were worth $2,731,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of MGNX. Price T Rowe Associates Inc. MD increased its holdings in shares of MacroGenics by 8,361.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,438,050 shares of the biopharmaceutical company’s stock valued at $35,889,000 after purchasing an additional 2,409,237 shares in the last quarter. Frazier Life Sciences Management L.P. increased its holdings in MacroGenics by 21.8% in the second quarter. Frazier Life Sciences Management L.P. now owns 3,010,727 shares of the biopharmaceutical company’s stock valued at $12,796,000 after buying an additional 539,023 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of MacroGenics by 39.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 661,914 shares of the biopharmaceutical company’s stock valued at $2,178,000 after acquiring an additional 186,858 shares during the period. Millennium Management LLC boosted its stake in shares of MacroGenics by 3,473.7% during the 2nd quarter. Millennium Management LLC now owns 3,312,672 shares of the biopharmaceutical company’s stock worth $14,079,000 after acquiring an additional 3,219,977 shares in the last quarter. Finally, Marshall Wace LLP grew its holdings in shares of MacroGenics by 1,689.3% in the 2nd quarter. Marshall Wace LLP now owns 658,007 shares of the biopharmaceutical company’s stock worth $2,797,000 after acquiring an additional 621,232 shares during the period. Institutional investors and hedge funds own 96.89% of the company’s stock.

MacroGenics Stock Up 7.1 %

Shares of MGNX opened at $3.64 on Friday. The stock’s fifty day simple moving average is $3.65 and its 200 day simple moving average is $3.98. MacroGenics, Inc. has a twelve month low of $2.95 and a twelve month high of $21.88.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MGNX. BTIG Research cut MacroGenics from a “buy” rating to a “neutral” rating in a report on Thursday, August 1st. JMP Securities lowered shares of MacroGenics from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 7th. Citigroup dropped their target price on shares of MacroGenics from $16.00 to $14.00 and set a “buy” rating for the company in a report on Thursday, August 15th. BMO Capital Markets cut their target price on shares of MacroGenics from $8.00 to $5.00 and set a “market perform” rating for the company in a research report on Wednesday, August 7th. Finally, HC Wainwright reiterated a “neutral” rating and issued a $4.00 price target on shares of MacroGenics in a research report on Wednesday, November 6th. Eight research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, MacroGenics currently has an average rating of “Hold” and a consensus target price of $7.63.

MacroGenics 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.