The President & CEO of MacroGenics is Exercising Options


Today it was reported that the President & CEO of MacroGenics (MGNX), Scott Koenig, exercised options to buy 40,000 MGNX shares at $0.94 a share, for a total transaction value of $37.6K. The options were close to expired and Scott Koenig retained stocks.

Following this transaction Scott Koenig’s holding in the company was increased by 30.04% to a total of $2.91 million. In addition to Scott Koenig, one other MGNX executive reported Buy trades in the last month.

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Based on MacroGenics’ latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $20.8 million and GAAP net loss of $34.03 million. In comparison, last year the company earned revenue of $1.66 million and had a GAAP net loss of $47.04 million. Currently, MacroGenics has an average volume of 344.7K.

Based on 3 analyst ratings, the analyst consensus is Strong Buy with an average price target of $32.00, reflecting a 92.7% upside. Starting in December 2017, MGNX received 28 Buy ratings in a row. Three different firms, including BTIG and Cowen & Co., currently also have a Buy rating on the stock.

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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 portfolio includes Margetuximab, Flotetuzumab, MGA012, MGD013, Enoblituzumab, MGD009, and Teplizumab.

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