MacroGenics Released Trial Data and Palantir Technologies Saw Increased Volume
MacroGenics is a healthcare company that focuses on biotechnology. They aim to find antibody therapies to cure cancer, and the Rockville, Maryland based company is valued at $1.283 billion.
On Thursday, they released some of their phase 3 data regarding a therapy with stomach cancer. 21 out of 40 patients reported tumour shrinkage with their therapy, and other data was similar. There was a small number of extreme side effects, and the CEO was very happy with the results. However, it looks like investors mainly focused on the bad part of the data as MacroGenics closed at $20.99, down 23.76%.
Palantir Technologies is a very famous Silicon Valley stock that focuses on AI software for companies to use. Well, they’re an ex-Silicon Valley company now as they are in Denver, but they are valued at $55.918 billion, so they aren’t necessarily too small for Silicon Valley.
Recently, Palantir is receiving high retail interest from traders online. It was one of the 5 most mentioned stocks on Wall Street Bets, and options volume showed a similar story. It crushed its average volume of 42 million shares per day, and options volume was skyrocketing which shows that people are taking massive bets on the stock. Could this be the next GameStop? Either way, the stock closed at $28.63, up 5.72%.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.