Revenue Update on MacroGenics Inc(NASDAQ:MGNX)

MacroGenics Inc(NASDAQ:MGNX) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Aug 3, 2016. Company reported revenue of $80.67M. Analysts estimated a revenue of $27.22M. Earnings per share were $1.12. Analysts had estimated an EPS of $-0.02.

MacroGenics Inc (MGNX) made into the market gainers list on Fridays trading session with the shares advancing 0.48% or 0.15 points. Due to strong positive momentum, the stock ended at $31.29, which is also near the day’s high of $31.64. The stock began the session at $30.95 and the volume stood at 1,96,159 shares. The 52-week high of the shares is $36.11 and the 52 week low is $14.84. The company has a current market capitalization of $1,087 M and it has 3,47,33,560 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On Jul 6, 2016, Jon Marc Wigginton (Sr VP Clinical Dev & CMO) sold 5,000 shares at $27.22 per share price.Also, On Jul 6, 2016, Lynn Cilinski (VP, Controller and Treasurer) sold 8,922 shares at $27.22 per share price.On Mar 4, 2016, Paulo F Costa (director) purchased 10,000 shares at $17.20 per share price, according to the Form-4 filing with the securities and exchange commission.

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.

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