The size and consistency of the selling cluster — especially the aggressive trims by three multi-strategy/quant funds with large prior positions — suggests a shared de-risking or thesis break. Monitor for further insider selling or catalyst-driven volatility. If the stock still shows weakness on high volume in weeks ahead, the sellers were likely correct and short-term longs should reduce exposure.
Executive Summary
A mixed institutional cluster formed in MGNX during Q3 2024: 5 smaller managers modestly added ($411K net buying), while 9 larger, more established firms aggressively reduced ($5.6M net selling). The 2:1 seller-to-dollar ratio (selling dominates by 14x) signals significant institutional loss of conviction, outweighing the small-scale accumulation.
Key Financial Metrics
Institutional Positions
Net institutional flow: -$5.2M
▲ Buyers (5)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Connor, Clark & Lunn Investmen | ADD | +39.3% | $2.2M | $159.0K |
| Voya Investment Management | DOUBLED | +176.7% | $194.0K | $103.0K |
| Exchange Traded Concepts | DOUBLED | +260.8% | $161.0K | $103.0K |
| Brevan Howard Capital Manageme | ADD | +93.8% | $137.0K | $46.0K |
| Cwm | DOUBLED | +5571.5% | $33.00 | $32.00 |
▼ Sellers (9)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Panagora Asset Management | TRIM | -52.1% | $3.2M | -$2.0M |
| Marshall Wace | TRIM | -42% | $2.8M | -$1.5M |
| Woodline Partners | TRIM | -48.9% | $1.6M | -$949.7K |
| Walleye Capital | TRIM | -43.7% | $867.0K | -$489.3K |
| State Of Wisconsin Investment | TRIM | -65.8% | $407.0K | -$298.9K |
Key Facts
- 9 sellers vs 5 buyers, with net selling of $5.6M
- Largest sellers: Panagora ($1.98M trim, 52.1%), Marshall Wace ($1.54M trim, 42%), Woodline Partners ($950K trim, 48.9%)
- Connor, Clark & Lunn was the largest buyer ($159K add, +39.3%)
- Buyers were small/emerging managers; sellers include established multi-strategy and long-only firms
- Cluster is dominated by active managers, amplifying the signal vs passive rebalancing
Financial Impact
5 smaller buyers added ~$411K in new holdings, while 9 sellers (led by Panagora, Marshall Wace, and Woodline) reduced by $5.6M — a net outflow of ~$5.2M, representing roughly 13% of MGNX's average daily volume and a meaningful institutional de-positioning
Risk Factors
- Accumulation by tiny buyers may be idiosyncratic or passive rebalance noise
- 45-day 13F reporting lag means cluster may have been fully unwound by now
- High T+20 win rate (40%) on prior MGNX calls suggests caution — prior bullish calls at similar conviction levels did not always confirm positively
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 institutional 13F filing from SEC EDGAR.
| Document | Accession Number |
|---|---|
| INST-CLUSTER Data (Synthetic) | inst-cluster-MGNX-2024-Q3 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Jul 8, 2026 12w ago | 8-K | $4.57 $4.01 | ▼ −12.25% | ▼ −14.50% | — |
Jul 2, 2026 13w ago | Press Release | $4.71 $3.78 | ▼ −19.75% | ▼ −19.33% | — |
Jun 12, 2026 16w ago | Institutional Cluster | $3.96 $4.33 | ▲ +9.34% | ▲ +7.56% | — |
Jun 11, 2026 16w ago | Institutional Cluster | $4.01 $4.57 | ▲ +13.97% | ▲ +12.07% | — |
May 13, 2026 20w ago | 8-K | $4.16 $3.96 | ▼ −4.81% | ▼ −3.95% | — |
May 12, 2026 20w ago | 8-K | $3.52 $3.87 | ▲ +9.94% | ▲ +11.67% | — |
May 11, 2026 20w ago | Press Release | $3.52 $3.87 | ▲ +9.94% | ▲ +11.67% | — |
Apr 8, 2026 25w ago | 8-K | $3.44 $3.01 | ▼ −12.50% | ▼ −20.07% | — |
Apr 8, 2026 25w ago | Press Release | $3.44 $3.01 | ▼ −12.50% | ▼ −20.07% | — |
Apr 8, 2026 25w ago | DEFA14A | $3.44 $3.01 | ▼ −12.50% | ▼ −20.07% | — |
US Market Status
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