Principal Financial Group Inc. Has $5.07 Million Position in MacroGenics, Inc. (NASDAQ:MGNX)

Principal Financial Group Inc. increased its position in MacroGenics, Inc. (NASDAQ:MGNX) by 28.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 344,603 shares of the biopharmaceutical company’s stock after buying an additional 76,727 shares during the period. Principal Financial Group Inc. owned 0.55% of MacroGenics worth $5,073,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Diversified Trust Co grew its holdings in MacroGenics by 16.0% during the first quarter. Diversified Trust Co now owns 13,630 shares of the biopharmaceutical company’s stock valued at $201,000 after purchasing an additional 1,880 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in MacroGenics by 7.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 49,337 shares of the biopharmaceutical company’s stock valued at $475,000 after purchasing an additional 3,319 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in MacroGenics by 66.4% during the first quarter. China Universal Asset Management Co. Ltd. now owns 11,935 shares of the biopharmaceutical company’s stock valued at $176,000 after purchasing an additional 4,761 shares during the last quarter. Sound Income Strategies LLC acquired a new position in MacroGenics during the first quarter valued at approximately $77,000. Finally, AJOVista LLC acquired a new position in MacroGenics during the fourth quarter valued at approximately $51,000. Institutional investors and hedge funds own 96.89% of the company’s stock.

MacroGenics Price Performance

MGNX stock traded up $0.02 during midday trading on Friday, reaching $4.22. The stock had a trading volume of 152,527 shares, compared to its average volume of 1,961,599. The business has a fifty day simple moving average of $6.56 and a two-hundred day simple moving average of $11.88. MacroGenics, Inc. has a twelve month low of $3.14 and a twelve month high of $21.88.

MacroGenics (NASDAQ:MGNX) last issued its earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.84) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.17). MacroGenics had a negative return on equity of 98.01% and a negative net margin of 53.60%. The company had revenue of $9.10 million for the quarter, compared to the consensus estimate of $13.63 million. Research analysts expect that MacroGenics, Inc. will post -3.04 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently weighed in on MGNX. Stifel Nicolaus cut MacroGenics from a “buy” rating to a “hold” rating and reduced their price objective for the company from $29.00 to $7.00 in a research report on Friday, May 10th. JMP Securities reduced their price objective on MacroGenics from $22.00 to $16.00 and set a “market outperform” rating for the company in a research report on Friday, May 10th. B. Riley began coverage on MacroGenics in a research report on Friday, April 26th. They issued a “buy” rating and a $25.00 price objective for the company. HC Wainwright reduced their price objective on MacroGenics from $16.00 to $4.00 and set a “neutral” rating for the company in a research report on Monday, May 13th. Finally, Barclays reduced their price objective on MacroGenics from $25.00 to $14.00 and set an “overweight” rating for the company in a research report on Friday, May 10th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, MacroGenics has a consensus rating of “Moderate Buy” and an average price target of $12.00.

About MacroGenics

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.