Hsbc Holdings PLC Boosts Stake in MacroGenics, Inc. (NASDAQ:MGNX)

Hsbc Holdings PLC raised its position in MacroGenics, Inc. (NASDAQ:MGNX – Get Rating) by 12.1% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 17,919 shares of the biopharmaceutical company’s stock after purchasing an additional 1,934 shares during the period. Hsbc Holdings PLC’s holdings in MacroGenics were worth $63,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MGNX. Millennium Management LLC grew its stake in MacroGenics by 68.0% in the 2nd quarter. Millennium Management LLC now owns 2,609,562 shares of the biopharmaceutical company’s stock valued at $7,698,000 after purchasing an additional 1,055,927 shares during the period. Citadel Advisors LLC boosted its stake in MacroGenics by 910.9% in the second quarter. Citadel Advisors LLC now owns 1,092,449 shares of the biopharmaceutical company’s stock valued at $3,222,000 after acquiring an additional 984,387 shares during the last quarter. Renaissance Technologies LLC boosted its stake in MacroGenics by 144.3% in the second quarter. Renaissance Technologies LLC now owns 1,430,923 shares of the biopharmaceutical company’s stock valued at $4,221,000 after acquiring an additional 845,211 shares during the last quarter. Federated Hermes Inc. boosted its stake in MacroGenics by 281.3% in the second quarter. Federated Hermes Inc. now owns 1,107,546 shares of the biopharmaceutical company’s stock valued at $3,267,000 after acquiring an additional 817,088 shares during the last quarter. Finally, Bank of Montreal Can purchased a new position in MacroGenics in the second quarter valued at about $2,220,000. Hedge funds and other institutional investors own 93.63% of the company’s stock.

Insider Buying and Selling

In related news, major shareholder Target N. V. Biotech purchased 500,000 shares of the firm’s stock in a transaction on Tuesday, February 14th. The shares were acquired at an average cost of $5.07 per share, with a total value of $2,535,000.00. Following the purchase, the insider now directly owns 9,579,963 shares of the company’s stock, valued at $48,570,412.41. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, major shareholder Target N. V. Biotech purchased 500,000 shares of the business’s stock in a transaction on Tuesday, February 14th. The shares were acquired at an average price of $5.07 per share, with a total value of $2,535,000.00. Following the acquisition, the insider now directly owns 9,579,963 shares in the company, valued at $48,570,412.41. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Target N. V. Biotech purchased 200,000 shares of the business’s stock in a transaction on Friday, December 23rd. The stock was purchased at an average cost of $5.88 per share, for a total transaction of $1,176,000.00. Following the acquisition, the insider now owns 8,729,963 shares in the company, valued at $51,332,182.44. The disclosure for this purchase can be found here. Insiders have purchased a total of 1,050,000 shares of company stock worth $5,628,000 in the last ninety days. 7.90% of the stock is owned by insiders.

MacroGenics Stock Down 13.8 %

NASDAQ MGNX opened at $5.32 on Monday. The company has a 50-day simple moving average of $5.81 and a two-hundred day simple moving average of $5.26. MacroGenics, Inc. has a 12-month low of $2.13 and a 12-month high of $10.20. The firm has a market cap of $327.05 million, a price-to-earnings ratio of -1.72 and a beta of 1.97.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Guggenheim upgraded MacroGenics from a “neutral” rating to a “buy” rating and set a $12.00 target price on the stock in a research note on Tuesday, November 22nd. Cowen downgraded shares of MacroGenics from an “outperform” rating to a “market perform” rating in a research note on Tuesday, November 22nd. BMO Capital Markets upgraded shares of MacroGenics from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $5.70 to $16.00 in a research note on Monday, November 14th. JMP Securities reduced their target price on shares of MacroGenics from $18.00 to $8.00 and set a “market outperform” rating for the company in a research note on Thursday, January 19th. Finally, Cowen downgraded shares of MacroGenics from an “outperform” rating to a “market perform” rating in a research note on Tuesday, November 22nd. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.30.

MacroGenics Company Profile

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MacroGenics, Inc is a clinical-stage biopharmaceutical company engaged in discovering and developing antibody-based therapeutics designed to modulate the human immune response for the treatment of cancer. Its product pipeline includes Margetuximab, Flotetuzumab, Retifanlimab, Enoblituzumab, Tebotelimab, MGC018, MGD019, IMGC936, and MGD014 for infectious diseases.