Reading MGNX? Track it free: the weekly brief, plus an alert if the thesis breaks. No credit card.
Track MGNX free→Reading MGNX? Track it free: the weekly brief, plus an alert if the thesis breaks. No credit card.
Track MGNX free→
NASDAQHealth CareBiotechnologySnapshot 2026-06-15
Recent financial performance is holding in the top half of its industry — the reason to own it looks intact.
Recent financial performance is neutral, and earnings quality is fragile, reported profits aren't backed by cash. Management's recent track record has been fairly steady, while risk is elevated and the sector backdrop is a headwind. Peer multiples imply a price about 77% above where it trades (it looks cheap on this basis); the read is cheap, value-trap risk, as it trades below peer multiples, but recent financials are weak or earnings quality is fragile. Key factors to watch include guidance changes and the performance of sector bellwethers like VRTX, REGN, and ARGX. This read is provisional.
Daily closes. Earnings/event dots are placed inline.
A consensus fair price across 2 valuation methods, at three horizons. Current price $4.13. Estimates are diagnostics, not price targets. Short-horizon estimates are close to coin-flips, so confidence is a method-agreement read, not a prediction.
No-growth: today's peer multiple on trailing earnings. The headline read.
Embeds projected growth. Leans optimistic by design. Upside context.
We take the 12-month fair value above and grade our own number — how the market prices this name versus what we'd justify, and where the two diverge.
At $4.13 MGNX trades at 3× p/s, below its 9× p/s peer median. Our $17 fair value sits above the price; low confidence. Not investment advice.
One valuation read at a 12-month horizon, plus how price compares to peers and the company's own history.
The price implies about 76% below a flat-multiple fair value, below our forecast of about -60%. This describes what's priced in, not a forecast of the move.
TTM earnings are negative, so the read leans on sales- and cash-flow-based methods rather than P/E. This is a data condition, not a forward call.
Only weak execution quality, a turbulent sector regime (Heating) — not the full expensive x weak x turbulent stack.
Each factor is a parallel diagnostic with a clear read of what it shows and how names like it have historically fared. Never aggregated into a single score.
Operating income rose in 1 of the last 3 quarter-over-quarter moves. Historically, Health Care names rated neutral grew net income 50% of the time over the next year (vs 57% for the rest of the cohort, n=3115).
Over the trailing year it converted -16.70x of net income into operating cash flow. Historically, Health Care names rated fragile grew net income 40% of the time over the next year (vs 56% for the rest of the cohort, n=1703).
Most sensitive to the broad stock market.
Not enough signal to read sensitivity to the US dollar, long-term interest rates, real (inflation-adjusted) rates, Fed net liquidity.
The next print and the backdrop around it (sector regime and the AI cycle). Context for the path, not a forecast of returns.
EPS estimate $-0.57 → $0.26 (+145.2% / 30d). 0 raised, 1 cut, 4 covering analysts.
0 upgrades, 0 downgrades / 30d. 43% of analysts rate Buy.
How management runs the business: capital, margins, balance sheet, and how reliably they guide and deliver.
A guidance track record builds as the company issues and delivers on guidance.
What a normal day, a bad day, and the worst of the last year would mean for a $10,000 position.
On a typical day, $10k can swing ±$235.
How much price usually moves either way.
On a bad day, this stock has moved -$648.
A rough but not unusual down day (about the 95th percentile).
In the worst 12 months, $10k could have lost $3,416.
Deepest peak-to-trough drop in the last year.
Past results, not a forecast. Not investment advice.
The most important moves since the prior daily snapshot.
No material changes since the prior snapshot.
as of 2026-06-15
Specific, dated things to watch for, each with what would confirm it and what would prove it wrong.
No named catalysts to watch right now. Check back after the next earnings report.
Recent news graded against this company's own objectives — whether it reinforces or challenges the thesis, and how confirmed it is.
No graded news catalysts for MGNX yet.
Conditional scenarios: if X happens, the view would shift in this direction. These are not predictions.
Recent SEC 8-K filings ranked by likely impact, confidence, and recency.
Results of Operations and Financial Condition On May 13, 2026, MacroGenics, Inc. (the "Company") announced financial and operating results as of and for the quarter ended March 31, 2026. The full text of the press release issued in connection with the announcement is attached as Exhibit 99.1 to this Current Report on Form 8-K. The information provided under this Form 8-K (including Exhibit 99.1) shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 (the…
Whether the overall read has been drifting up or down lately, and how it's changed since last week.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
Long-thesis check; widest uncertainty.
TTM earnings are negative. P/E-based methods drop out and the estimate leans on sales- and cash-flow-based methods. A data condition, not a forward call.
For similar setups historically (n=20,154): about 33% saw a 20%+ drawdown, and roughly 76% of those did not recover within the year. These are historical base rates for the cohort, not a forecast of this stock.
Looks more expensive than peers.
Self-history needs ~20 months of data.
Trailing four: 2025-Q1, 2025-Q2, 2025-Q3, 2026-Q1
A side-by-side read on sector standing, valuation, and risk versus Biotechnology.
| Stock | Sector standing | Valuation | Risk |
|---|---|---|---|
MGNX MacroGenics Inc | Typical Show detailsSector percentile: 52 of 100 | inexpensive | elevated |
ABBV AbbVie | Above typical Show detailsSector percentile: 85 of 100 | fair | low |
AMGN Amgen | Above typical Show detailsSector percentile: 78 of 100 | full | moderate |
GILD Gilead Sciences | Above typical Show detailsSector percentile: 100 of 100 | fair | moderate |
VRTX Vertex Pharmaceuticals | Above typical Show detailsSector percentile: 80 of 100 | expensive | moderate |
8 material management or governance events in the past 24 months, led by M&A activity. Historically, Health Care names rated neutral grew net income 58% of the time over the next year (vs 50% for the rest of the cohort, n=842).
Not investment advice. As of 2026-06-15.
via XLV
Tailwind = sector leading the S&P 500; headwind = trailing. Both can be constructive. Historically, headwind regimes have averaged stronger forward returns than tailwind.
Context label only: describes the market state (e.g. real bear vs narrative panic, healthy uptrend vs late-stage froth). It is not a per-ticker buy/sell signal and does not predict factor performance.
Not investment advice. As of 2026-06-15.
Priorities management has stated in recent disclosures, with status and evidence drawn from earnings calls, filings, and press releases.
Extend the company's cash runway through 2028 by divesting manufacturing assets.
Stated in 2 of last 2 quarters. The company has extended its cash runway guidance through 2028, contingent on the divestiture of manufacturing assets. This represents a strategic shift from the previous guidance into late 2027, indicating progress in capital allocation efforts.
“Cash runway guidance extended through 2028, based on anticipated closing of manufacturing divestiture.”
“Cash runway guidance remains into late 2027.”
Target a $20 million milestone payment contingent on ZYNYZ achieving specified sales thresholds in 2026.
Newly stated in 2026-Q1. The company aims to achieve a $20 million milestone payment based on ZYNYZ sales performance in 2026. This is a growth initiative contingent on meeting specific sales thresholds, with no financial results yet available to assess progress.
“Eligible to receive an additional one-time milestone payment of up to $20.0 million, contingent upon ZYNYZ achieving specified calendar year 2026 net sales thresholds.”
Entry into a Material Definitive Agreement. On May 11, 2026, MacroGenics, Inc., a Delaware corporation (the "Company"), entered into an Asset Purchase Agreement (the "Purchase Agreement") with Bora Pharmaceuticals Co., Ltd., a company organized under the laws of Taiwan ("Bora"), and Bora Biologics USA, LLC, a Delaware limited liability company (collectively, the "Purchaser"), pursuant to which the Company agreed to sell to the Purchaser assets and current liabilities related to its GMP manufa…
Entry into a Material Definitive Agreement. On May 1, 2026, MacroGenics, Inc. (the “Company”) and an entity affiliated with Sagard Healthcare Partners (“Sagard”) entered into a First Amendment (the “First Amendment”) to the Purchase and Sale Agreement, dated as of June 9, 2025 (the “Royalty Purchase Agreement”), pursuant to which the Company previously sold to Sagard its right to receive royalties on global net sales of ZYNYZ (retifanlimab-dlwr) under the Company’s Global Collaboration and Li…
Regulation FD Disclosure On May 11, 2026, the Company issued a press release announcing the execution of the Purchase Agreement. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K. The information furnished pursuant to this Item 7.01, including Exhibit 99.1, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, and shall no…
Other Information On May 4, 2026, the Company issued a press release announcing entry into the amended Royalty Purchase Agreement. A copy of the press release is filed as Exhibit 99.1 to this Current Report. Forward-Looking Statements This filing contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to, the timing and potential amount of royalty payments under the Royalty Purch…