Connor Clark & Lunn Investment Management Ltd. Boosts Holdings in MacroGenics, Inc. (NASDAQ:MGNX)

Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of MacroGenics, Inc. (NASDAQ:MGNX) by 39.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 661,914 shares of the biopharmaceutical company’s stock after acquiring an additional 186,858 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 1.05% of MacroGenics worth $2,178,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in MGNX. ProShare Advisors LLC increased its holdings in shares of MacroGenics by 8.9% during the 1st quarter. ProShare Advisors LLC now owns 15,282 shares of the biopharmaceutical company’s stock worth $225,000 after buying an additional 1,246 shares during the last quarter. CANADA LIFE ASSURANCE Co purchased a new stake in MacroGenics in the 1st quarter valued at $52,000. EntryPoint Capital LLC purchased a new stake in MacroGenics during the 1st quarter valued at approximately $40,000. Price T Rowe Associates Inc. MD lifted its stake 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 worth $35,889,000 after acquiring an additional 2,409,237 shares during the period. Finally, Janus Henderson Group PLC purchased a new stake in shares of MacroGenics in the first quarter valued at approximately $492,000. Institutional investors and hedge funds own 96.89% of the company’s stock.

MacroGenics Stock Performance

Shares of MGNX stock opened at $3.29 on Tuesday. The company has a market capitalization of $206.49 million, a price-to-earnings ratio of -2.08 and a beta of 2.08. The stock’s 50 day simple moving average is $3.64 and its 200 day simple moving average is $3.99. MacroGenics, Inc. has a twelve month low of $2.95 and a twelve month high of $21.88.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Citigroup cut their price target on MacroGenics from $16.00 to $14.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Evercore ISI upgraded shares of MacroGenics to a “strong-buy” rating in a report on Monday, September 16th. Barclays lowered their price target on shares of MacroGenics from $14.00 to $9.00 and set an “overweight” rating for the company in a report on Monday, July 29th. BMO Capital Markets reduced their price objective on shares of MacroGenics from $8.00 to $5.00 and set a “market perform” rating on the stock in a research note on Wednesday, August 7th. Finally, Guggenheim cut shares of MacroGenics from a “buy” rating to a “neutral” rating in a research note on Wednesday, July 31st. Eight analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, MacroGenics presently has an average rating of “Hold” and a consensus target price of $7.63.

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.