MacroGenics, Inc. (MGNX) Stock

MacroGenics, Inc. (MGNX) is a Healthcare stock trading at $4.04 (as of 2026-08-21), with a market capitalization of $257.35M. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

MacroGenics, Inc., a biopharmaceutical company, develops and commercializes antibody-based therapeutics to treat cancer in the United States. Its approved product is MARGENZA (margetuximab-cmkb), a human epidermal growth factor receptor 2 (HER2) receptor antagonist indicated, in combination with chemotherapy, for the treatment of adult patients with metastatic HER2-positive breast cancer who have received two or more prior anti-HER2 regimens. The company's pipeline of immuno-oncology product candidates includes MGC018, an antibody drug conjugate (ADC), which targets solid tumors expressing B7-H3; Enoblituzumab, a monoclonal antibody that targets B7-H3; and MGD024, an investigational bispecific CD123 × CD3 DART molecule to minimize cytokine-release syndrome for patients with hematologic malignancies. It also develops Lorigerlimab, a monoclonal antibody that targets the immune checkpoints PD-1 and cytotoxic T-lymphocyte-associated protein 4; Tebotelimab, an investigational tetravalent DART molecule for PD-1 and lymphocyte-activation gene 3; Retifanlimab, an investigational monoclonal antibody targeting metastatic squamous cell carcinoma of the anal canal and metastatic non-small cell lung cancer; and IMGC936, an ADC that targets ADAM9, a cell surface protein over-expressed in various solid tumor types. Further, the company develops MGD014 and MGD020, a DART molecule to target the envelope protein of human immunodeficiency virus infected cells and CD3 on T cells; Teplizumab for the treatment of type 1 diabetes; and PRV-3279, a CD32B × CD79B DART molecule for the treatment of autoimmune indications. It has collaborations with Incyte Corporation; Zai Lab Limited; I-Mab Biopharma; and Janssen Biotech, Inc. The company was incorporated in 2000 and is headquartered in Rockville, Maryland.

Understand MacroGenics, Inc.: how it makes money

MacroGenics develops and commercializes antibody-based cancer therapeutics, including the approved HER2 therapy MARGENZA, and it earns money from product sales plus collaborative, royalty, contract manufacturing, and milestone arrangements.

The profit engine is not purely recurring product revenue, it is a mix of limited product sales and variable, often time-bound revenue streams (collaboration revenue, royalties, and development or approval milestones), while operating results remain deeply loss-making.

Revenue by segment (latest quarter)
Collaborative and Other$0.1B
Contract Manufacturing$0.0B
Margenza Net Sales$0.0B
Xilab$0.0B
Insight Milestone$0.0B
Retifanlimab ex-US Milestone$0.0B
Royalty$0.0B
Zynus U.S. FDA Approval Milestone$0.0B

Business quality (Weak): The company has an approved product (MARGENZA), but the available operating picture for the latest quarter emphasizes agreement, contract manufacturing, and milestone-style revenue and shows an extreme negative operating margin, so investors should focus on how product sales evolve versus continued reliance on external arrangements.

Bull case

  • Commercial product with a defined label, MARGENZA, for metastatic HER2-positive breast cancer in combination with chemotherapy after two or more prior anti-HER2 regimens: This gives the company an operating track record beyond pipeline-only development.
  • Non-product revenue sources exist in the reported mix, including collaborative and other agreements: This can partially offset the economics of heavy R and D spending while the pipeline advances.

Bear case

  • Operating margin is very negative at -161.0% for the latest reported period: This indicates substantial operating losses, which can increase the need for financing and limit flexibility.
  • Product Sales Revenue, Net is 0.0 for the latest period: The company may still be more dependent on collaboration, royalty, contract manufacturing, and milestone revenue than on broad commercial traction.
  • A portion of revenue is milestone and agreement related (for example, development milestones and FDA approval milestones): These streams can be lumpy and may not be repeatable in the same way each quarter.
Valuation — source: SEC EDGAR (first-party)
Price$4.04
Market Cap$257.35M
Price / Book6.00
Price / Sales1.75
FCF Yield-107.2%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$149.50M
Net Margin-49.9%
Revenue Growth (YoY)-0.3%
EPS Growth (YoY)10.3%
FCF Growth (YoY)15.1%
Financial Health — source: SEC EDGAR
Altman Z-Score-5.54 (distress)
Valuation vs Sector & Industry
Sector P/E (Healthcare)21.7
Industry P/E (Pharmaceutical Products)17.2
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderBlackRock Fund Advisors ($30.87M)
Institutional Holders Tracked10
Company
SectorHealthcare
IndustryPharmaceutical Products
CEOEric Blasius Risser
Employees341
CountryUS
IPO Date2013-10-10

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MGNX earnings history · MGNX institutional & insider holders · MGNX KPIs & operating metrics · MGNX financials · MGNX investor presentations & press releases · MGNX SEC filings · MGNX peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-21.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.