Cormorant Asset Management buys $21,903,000 stake in MacroGenics Inc (MGNX)

MacroGenics Inc (MGNX) : Cormorant Asset Management scooped up 200,000 additional shares in MacroGenics Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 700,000 shares of MacroGenics Inc which is valued at $21,903,000.MacroGenics Inc makes up approximately 2.79% of Cormorant Asset Management’s portfolio.

Other Hedge Funds, Including , Two Sigma Investments Lp sold out all of its stake in MGNX during the most recent quarter. The investment firm sold 17,317 shares of MGNX which is valued $541,849.Marshall Wace Llp boosted its stake in MGNX in the latest quarter, The investment management firm added 18,972 additional shares and now holds a total of 122,430 shares of MacroGenics Inc which is valued at $3,830,835. MacroGenics Inc makes up approx 0.03% of Marshall Wace Llp’s portfolio.Blackrock Investment Management boosted its stake in MGNX in the latest quarter, The investment management firm added 11,609 additional shares and now holds a total of 124,685 shares of MacroGenics Inc which is valued at $3,901,394.Emerald Advisers Incpa reduced its stake in MGNX by selling 151,753 shares or 29.59% in the most recent quarter. The Hedge Fund company now holds 361,143 shares of MGNX which is valued at $11,047,364. MacroGenics Inc makes up approx 0.50% of Emerald Advisers Incpa’s portfolio.Clarivest Asset Management boosted its stake in MGNX in the latest quarter, The investment management firm added 8,100 additional shares and now holds a total of 60,296 shares of MacroGenics Inc which is valued at $1,844,455. MacroGenics Inc makes up approx 0.05% of Clarivest Asset Management’s portfolio.

MacroGenics Inc opened for trading at $29.83 and hit $30.35 on the upside on Thursday, eventually ending the session at $30.05, with a gain of 0.81% or 0.24 points. The heightened volatility saw the trading volume jump to 2,15,721 shares. Company has a market cap of $1,044 M.

On the company’s financial health, MacroGenics Inc reported $1.12 EPS for the quarter, beating the analyst consensus estimate by $ 1.74 according to the earnings call on Aug 3, 2016. Analyst had a consensus of $-0.62. The company had revenue of $80.67 million for the quarter, compared to analysts expectations of $12.77 million. The company’s revenue was up 1100.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.71 EPS.

Many Wall Street Analysts have commented on MacroGenics Inc. MacroGenics Inc was Downgraded by Citigroup to ” Neutral” on Aug 4, 2016.

MacroGenics Inc. is a biopharmaceutical company focused on discovering and developing antibody-based therapeutics for the treatment of cancer as well as various autoimmune disorders and infectious diseases. The Company develops new therapeutic product candidates using its antibody-based technology platforms and also in partnership with other biopharmaceutical companies. The Company has a pipeline of product candidates in human clinical testing primarily against various cancers. These include two product candidates developed using Fc Optimization platform namely margetuximab an antibody for the treatment of certain types of metastatic breast cancers and gastroesophageal cancers and MGA271 an antibody to impact various tumors through multiple potential mechanisms of action. In addition the Company has created different product candidates based on Dual-Affinity Re-Targetingr (DART) platform.

Leave a Reply

MacroGenics Inc - Is it time to Sell?

Top Brokerage Firms are advising their investors on MacroGenics Inc. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.