MacroGenics Sees Unusually High Options Volume (NASDAQ:MGNX)

MacroGenics, Inc. (NASDAQ:MGNX) was the recipient of unusually large options trading on Monday. Traders acquired 4,520 call options on the stock. This represents an increase of approximately 1,776% compared to the average volume of 241 call options.

In related news, SVP Thomas Spitznagel sold 5,000 shares of the firm’s stock in a transaction on Friday, July 16th. The stock was sold at an average price of $25.01, for a total value of $125,050.00. Following the transaction, the senior vice president now owns 5,000 shares in the company, valued at $125,050. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Target N. V. Biotech purchased 75,000 shares of the firm’s stock in a transaction that occurred on Monday, June 21st. The stock was bought at an average price of $21.74 per share, for a total transaction of $1,630,500.00. Following the transaction, the insider now directly owns 6,275,564 shares of the company’s stock, valued at approximately $136,430,761.36. The disclosure for this purchase can be found here. 7.90% of the stock is owned by company insiders.

Institutional investors have recently bought and sold shares of the stock. Federated Hermes Inc. increased its holdings in MacroGenics by 122.9% in the first quarter. Federated Hermes Inc. now owns 963 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 531 shares in the last quarter. Marshall Wace North America L.P. bought a new stake in MacroGenics in the first quarter worth approximately $59,000. Meeder Asset Management Inc. bought a new stake in MacroGenics in the second quarter worth approximately $62,000. Lazard Asset Management LLC bought a new stake in MacroGenics in the first quarter worth approximately $76,000. Finally, Marshall Wace LLP bought a new stake in MacroGenics in the first quarter worth approximately $80,000. 93.67% of the stock is currently owned by institutional investors.

Shares of MGNX stock opened at $27.20 on Wednesday. The business’s 50-day moving average price is $24.45 and its 200-day moving average price is $27.56. MacroGenics has a 12 month low of $18.16 and a 12 month high of $36.48. The firm has a market capitalization of $1.66 billion, a price-to-earnings ratio of -12.36 and a beta of 2.23.

MacroGenics (NASDAQ:MGNX) last posted its quarterly earnings data on Thursday, July 29th. The biopharmaceutical company reported ($0.66) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.28) by ($0.38). The company had revenue of $30.76 million during the quarter, compared to analyst estimates of $35.55 million. MacroGenics had a negative return on equity of 41.16% and a negative net margin of 109.07%. As a group, analysts forecast that MacroGenics will post -2.86 EPS for the current year.

MGNX has been the topic of several research analyst reports. BTIG Research initiated coverage on MacroGenics in a research note on Wednesday, June 16th. They issued a “buy” rating on the stock. Wedbush reduced their price objective on MacroGenics from $39.00 to $34.00 and set an “outperform” rating on the stock in a research note on Monday, June 7th. Zacks Investment Research raised MacroGenics from a “sell” rating to a “hold” rating in a research note on Tuesday, August 17th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $41.00 price objective on shares of MacroGenics in a research note on Tuesday, July 27th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $32.17.

About MacroGenics

MacroGenics, Inc is a clinical-stage biopharmaceutical company, which engages 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.

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