MacroGenics Target of Unusually High Options Trading (NASDAQ:MGNX)

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Lazard Asset Management LLC bought a new position in MacroGenics in the 4th quarter worth approximately $32,000. American Century Companies Inc. bought a new position in MacroGenics in the 4th quarter worth approximately $38,000. Jump Financial LLC bought a new position in MacroGenics in the 4th quarter worth approximately $44,000. ProShare Advisors LLC boosted its holdings in MacroGenics by 32.4% in the 4th quarter. ProShare Advisors LLC now owns 20,284 shares of the biopharmaceutical company's stock worth $66,000 after buying an additional 4,963 shares during the period. Finally, State of Wyoming bought a new position in MacroGenics in the 1st quarter worth approximately $28,000. 96.89% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on MGNX shares. Stifel Nicolaus reduced their price objective on shares of MacroGenics from $6.00 to $5.00 and set a "hold" rating for the company in a research report on Wednesday, May 14th. HC Wainwright reduced their price objective 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. B. Riley reduced their price objective on shares of MacroGenics from $5.00 to $3.00 and set a "neutral" rating for the company in a research report on Tuesday, May 20th. Barclays reaffirmed an "overweight" rating and issued a $3.00 price objective (down from $8.00) on shares of MacroGenics in a research report on Wednesday, May 14th. Finally, Wall Street Zen raised shares of MacroGenics from a "sell" rating to a "hold" rating in a research report on Saturday, June 7th. Eight analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, MacroGenics currently has a consensus rating of "Hold" and an average price target of $5.71.

MacroGenics Price Performance

Shares of MacroGenics stock traded down $0.03 on Friday, reaching $1.52. 952,149 shares of the company traded hands, compared to its average volume of 860,043. MacroGenics has a 52 week low of $0.99 and a 52 week high of $5.77. The company has a 50 day moving average of $1.50 and a 200 day moving average of $2.31. The firm has a market capitalization of $95.90 million, a PE ratio of -0.96 and a beta of 1.66.

MacroGenics (NASDAQ:MGNX - Get Free Report) last released its earnings results on Tuesday, May 13th. The biopharmaceutical company reported ($0.65) earnings per share for the quarter, missing analysts' consensus estimates 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 company had revenue of $13.19 million for the quarter, compared to the consensus estimate of $9.59 million. As a group, analysts anticipate that MacroGenics will post -1.06 earnings per share for the current year.

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.