MacroGenics (MGNX) : The traders have covered their outstanding shorts in MacroGenics (MGNX) to the tune of -62,354 shares, a change of -2.5%. As on Jul 29, 2016, the outstanding shorts on the stock were 2,534,062 shares, however, by August 15, 2016, the shorts had reduced to 2,471,708 shares. The covering shows that the traders dont believe that a large downside exists in the stock from current levels. The open short positions equal 7.9% of the free float of the stock. It takes 10 days to cover the outstanding short positions. The stock has an average daily volume of 253,380 shares. The short interest information was released on Wednesday Aug 24th after the market close.
MacroGenics (NASDAQ:MGNX): The stock opened at $31.35 on Wednesday but the bulls could not build on the opening and the stock topped out at $31.99 for the day. The stock traded down to $29.01 during the day, due to lack of any buying support eventually closed down at $29.24 with a loss of -6.97% for the day. The stock had closed at $31.43 on the previous day. The total traded volume was 245,233 shares.
In a related news, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the officer (Sr VP Clinical Dev & CMO) of Macrogenics Inc, Wigginton Jon Marc had sold 20,000 shares worth of $615,600 in a transaction dated August 1, 2016. In this transaction, 20,000 shares were sold at $30.78 per share.
MacroGenics, Inc. is a biopharmaceutical company focused on discovering and developing antibody-based therapeutics for the treatment of cancer, as well as various autoimmune disorders and infectious diseases. The Company develops new therapeutic product candidates using its antibody-based technology platforms and also in partnership with other biopharmaceutical companies. The Company has a pipeline of product candidates in human clinical testing, primarily against various cancers. These include two product candidates developed using Fc Optimization platform, namely margetuximab, an antibody for the treatment of certain types of metastatic breast cancers and gastroesophageal cancers, and MGA271, an antibody to impact various tumors through multiple potential mechanisms of action. In addition, the Company has created different product candidates based on Dual-Affinity Re-Targetingr (DART) platform.