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

MacroGenics, Inc. (NASDAQ:MGNX) was the recipient of unusually large options trading activity on Tuesday. Stock traders bought 5,929 call options on the stock. This is an increase of 10,680% compared to the typical volume of 55 call options.

Institutional Investors Weigh In On MacroGenics

Several large investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its holdings in shares of 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 buying an additional 34,420 shares in the last quarter. SG Americas Securities LLC increased its stake in MacroGenics by 104.5% in 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 period. Wellington Management Group LLP raised its holdings in shares of MacroGenics by 5.4% during the fourth quarter. Wellington Management Group LLP now owns 323,857 shares of the biopharmaceutical company’s stock worth $1,053,000 after acquiring an additional 16,717 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in shares of MacroGenics during the 4th quarter valued at about $32,000. Finally, JPMorgan Chase & Co. lifted its stake in MacroGenics by 68.3% in the fourth quarter. JPMorgan Chase & Co. now owns 546,807 shares of the biopharmaceutical company’s stock valued at $1,777,000 after acquiring an additional 221,905 shares during the last quarter. Institutional investors and hedge funds own 96.89% of the company’s stock.

Wall Street Analyst Weigh In

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

MacroGenics Price Performance

Shares of NASDAQ MGNX opened at $1.78 on Wednesday. MacroGenics has a 1-year low of $0.99 and a 1-year high of $5.77. The business has a 50-day moving average of $1.47 and a 200-day moving average of $2.34. The company has a market capitalization of $112.30 million, a price-to-earnings ratio of -1.13 and a beta of 1.66.

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