MGNX popping 7% today. Here's what's happening:

Macrogenics (MGNX) is trading 7% higher at $3.74 today. The company was recently downgraded after the discontinuation of a flagship cancer trial, but seems to regaining steam today amidst a flurry of strong performance in the health and biotech sectors.

Macrogenics has been trading between a 52-week high of $28.09 and a 52-week low of $2.13. The stock has a market cap of $229 Million.

MacroGenics is a biopharmaceutical company focused on developing and commercializing innovative monoclonal antibody-based therapeutics for the treatment of cancer. The Company generates its pipeline of product candidates primarily from its proprietary suite of next-generation antibody-based technology platforms, which have applicability across broad therapeutic domains. The combination of MacroGenics' technology platforms and protein engineering expertise has allowed the Company to generate promising product candidates and enter into several strategic collaborations with global pharmaceutical and biotechnology companies.