Rhenman Partners Asset Management Ab buys $4,428,200 stake in MacroGenics Inc (MGNX)

MacroGenics Inc (MGNX) : Rhenman Partners Asset Management Ab scooped up 20,000 additional shares in MacroGenics Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 1, 2016. The investment management firm now holds a total of 140,000 shares of MacroGenics Inc which is valued at $4,428,200.MacroGenics Inc makes up approximately 0.71% of Rhenman Partners Asset Management Ab’s portfolio.

Other Hedge Funds, Including , California State Teachers Retirement System boosted its stake in MGNX in the latest quarter, The investment management firm added 95 additional shares and now holds a total of 66,849 shares of MacroGenics Inc which is valued at $2,114,434.Nisa Investment Advisors boosted its stake in MGNX in the latest quarter, The investment management firm added 100 additional shares and now holds a total of 500 shares of MacroGenics Inc which is valued at $14,215.Hall Laurie J Trustee boosted its stake in MGNX in the latest quarter, The investment management firm added 120 additional shares and now holds a total of 220 shares of MacroGenics Inc which is valued at $5,766. Washington Trust Bank sold out all of its stake in MGNX during the most recent quarter. The investment firm sold 250 shares of MGNX which is valued $6,778.

MacroGenics Inc opened for trading at $31.4 and hit $33 on the upside on Thursday, eventually ending the session at $32.35, with a gain of 2.28% or 0.72 points. The heightened volatility saw the trading volume jump to 5,16,736 shares. Company has a market cap of $1,118 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.

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