Stock Traders Buy High Volume of Call Options on MacroGenics (NASDAQ:MGNX)

MacroGenics, Inc. (NASDAQ:MGNX - Get Free Report) was the recipient of unusually large options trading activity on Tuesday. Stock investors purchased 5,929 call options on the company. This is an increase of approximately 10,680% compared to the average volume of 55 call options.

Hedge Funds Weigh In On MacroGenics

Institutional investors and hedge funds have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. grew its stake in MacroGenics by 7.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 527,185 shares of the biopharmaceutical company's stock valued at $1,713,000 after purchasing an additional 34,420 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of MacroGenics by 104.5% during the 4th quarter. SG Americas Securities LLC now owns 34,399 shares of the biopharmaceutical company's stock valued at $112,000 after buying an additional 17,577 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of MacroGenics by 5.4% in the 4th quarter. Wellington Management Group LLP now owns 323,857 shares of the biopharmaceutical company's stock valued at $1,053,000 after buying an additional 16,717 shares in the last quarter. Lazard Asset Management LLC bought a new stake in shares of MacroGenics in the 4th quarter valued at approximately $32,000. Finally, JPMorgan Chase & Co. increased its holdings in MacroGenics by 68.3% in the fourth quarter. JPMorgan Chase & Co. now owns 546,807 shares of the biopharmaceutical company's stock worth $1,777,000 after buying an additional 221,905 shares during the last quarter. 96.89% of the stock is currently owned by hedge funds and other institutional investors.

MacroGenics Stock Up 0.8%

Shares of MGNX traded up $0.02 during trading hours on Wednesday, reaching $1.80. The company's stock had a trading volume of 2,258,067 shares, compared to its average volume of 907,402. The company has a 50 day moving average of $1.47 and a two-hundred day moving average of $2.34. The firm has a market cap of $113.25 million, a price-to-earnings ratio of -1.14 and a beta of 1.66. MacroGenics has a 1-year low of $0.99 and a 1-year high of $5.77.

MacroGenics (NASDAQ:MGNX - Get Free Report) last announced its quarterly earnings data on Tuesday, May 13th. The biopharmaceutical company reported ($0.65) EPS for the quarter, missing analysts' consensus estimates of ($0.61) by ($0.04). The company had revenue of $13.19 million for the quarter, compared to analysts' expectations of $9.59 million. MacroGenics had a negative net margin of 69.07% and a negative return on equity of 89.42%. As a group, analysts forecast that MacroGenics will post -1.06 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on MGNX shares. B. Riley cut their target price on MacroGenics from $5.00 to $3.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 20th. Wall Street Zen upgraded shares of MacroGenics from a "sell" rating to a "hold" rating in a research report on Saturday. Stifel Nicolaus reduced their target price on shares of MacroGenics from $6.00 to $5.00 and set a "hold" rating for the company in a research note on Wednesday, May 14th. HC Wainwright decreased their target price on shares of MacroGenics from $4.00 to $2.00 and set a "neutral" rating for the company in a research report on Tuesday, March 25th. Finally, Barclays reaffirmed an "overweight" rating and set a $3.00 price target (down previously from $8.00) on shares of MacroGenics in a report on Wednesday, May 14th. Eight investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $5.71.

MacroGenics Company Profile

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.