MacroGenics Sees Unusually Large Options Volume (NASDAQ:MGNX)

MacroGenics, Inc. (NASDAQ:MGNX) was the target of unusually large options trading activity on Tuesday. Investors purchased 5,929 call options on the company. This is an increase of approximately 10,680% compared to the typical daily volume of 55 call options.

Analyst Ratings Changes

Several equities analysts have commented on the company. Barclays reaffirmed an “overweight” rating and issued a $3.00 price target (down previously from $8.00) on shares of MacroGenics in a report on Wednesday, May 14th. Wall Street Zen raised shares of MacroGenics from a “sell” rating to a “hold” rating in a research note on Saturday. Stifel Nicolaus lowered their target price on MacroGenics from $6.00 to $5.00 and set a “hold” rating for the company in a research note on Wednesday, May 14th. B. Riley lowered their target price on MacroGenics from $5.00 to $3.00 and set a “neutral” rating for the company in a research note on Tuesday, May 20th. Finally, HC Wainwright reduced their price objective on shares of MacroGenics from $4.00 to $2.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 25th. Eight equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $5.71.

MacroGenics Trading Up 8.5%

Shares of NASDAQ:MGNX opened at $1.78 on Wednesday. MacroGenics has a 12 month low of $0.99 and a 12 month high of $5.77. The stock has a market capitalization of $112.30 million, a PE ratio of -1.13 and a beta of 1.66. The firm has a 50 day moving average of $1.47 and a 200-day moving average of $2.34.

MacroGenics (NASDAQ:MGNX) last released its quarterly earnings data on Tuesday, May 13th. The biopharmaceutical company reported ($0.65) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.61) by ($0.04). MacroGenics had a negative net margin of 69.07% and a negative return on equity of 89.42%. The firm had revenue of $13.19 million during the quarter, compared to analyst estimates of $9.59 million. On average, research analysts predict that MacroGenics will post -1.06 EPS for the current fiscal year.

Institutional Investors Weigh In On MacroGenics

Several large investors have recently added to or reduced their stakes in MGNX. Strs Ohio bought a new stake in MacroGenics during the first quarter worth $263,000. Acadian Asset Management LLC boosted its stake in MacroGenics by 78.8% during the first quarter. Acadian Asset Management LLC now owns 2,308,649 shares of the biopharmaceutical company’s stock valued at $2,923,000 after buying an additional 1,017,726 shares during the period. Jones Financial Companies Lllp lifted its position in MacroGenics by 456,243.3% during the first quarter. Jones Financial Companies Lllp now owns 136,903 shares of the biopharmaceutical company’s stock valued at $174,000 after purchasing an additional 136,873 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its position in MacroGenics by 17.6% during the first quarter. Jacobs Levy Equity Management Inc. now owns 665,351 shares of the biopharmaceutical company’s stock valued at $845,000 after purchasing an additional 99,447 shares in the last quarter. Finally, Amundi bought a new position in shares of MacroGenics during the 1st quarter valued at about $272,000. Institutional investors and hedge funds own 96.89% of the company’s stock.

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.