Macrogenics (MGNX)
Market Price (10/9/2025): $1.74 | Market Cap: $109.9 Mil
Sector: Health Care | Industry: Biotechnology
Macrogenics (MGNX)
Market Price (10/9/2025): $1.74
Market Cap: $109.9 Mil
Sector: Health Care
Industry: Biotechnology
Investment Highlights
| Cash is significant % of market cap Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -124% | Weak multi-year price returns 2Y Excs Rtn is -120%, 3Y Excs Rtn is -133% | Not profitable at operating income level Op Inc LTMOperating Income, Last Twelve Months is -78 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -48% |
| Strong revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 315% | Not cash flow generative CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -44%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -46% | |
| Valuation becoming less expensive P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -66% | Yield minus risk free rate is negative ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -37% |
| Cash is significant % of market cap Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -124% |
| Strong revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 315% |
| Valuation becoming less expensive P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -66% |
| Weak multi-year price returns 2Y Excs Rtn is -120%, 3Y Excs Rtn is -133% |
| Not profitable at operating income level Op Inc LTMOperating Income, Last Twelve Months is -78 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -48% |
| Not cash flow generative CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -44%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -46% |
| Yield minus risk free rate is negative ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -37% |
Market Valuation & Key Metrics
MGNX Stock
Price Returns Compared
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| MGNX Return | 110% | -30% | -58% | 43% | -66% | -45% | -84% |
| Peers Return | 1% | 8% | -9% | 4% | -11% | 10% | 1% |
| S&P 500 Return | 16% | 27% | -19% | 24% | 23% | 15% | 108% |
Monthly Win Rates [3] | |||||||
| MGNX Win Rate | 42% | 25% | 42% | 50% | 42% | 33% | |
| Peers Win Rate | 42% | 48% | 50% | 55% | 43% | 49% | |
| S&P 500 Win Rate | 58% | 75% | 42% | 67% | 75% | 67% | |
Max Drawdowns [4] | |||||||
| MGNX Max Drawdown | -61% | -30% | -86% | -33% | -69% | -67% | |
| Peers Max Drawdown | -30% | -10% | -23% | -19% | -26% | -12% | |
| S&P 500 Max Drawdown | -31% | -1% | -25% | -1% | -2% | -15% | |
[1] Cumulative total returns since the beginning of 2020
[2] Peers: ACT, ALKS, PRGO, LIVN, PCRX. See MGNX Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 10/8/2025 (YTD)
Downturns Compared
| Event | MGNX | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -93.7% | -25.4% |
| % Gain to Breakeven | 1483.6% | 34.1% |
| Time to Breakeven | Not Fully Recovered days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -64.7% | -33.9% |
| % Gain to Breakeven | 182.9% | 51.3% |
| Time to Breakeven | 49 days | 148 days |
| 2018 Correction | ||
| % Loss | -75.5% | -19.8% |
| % Gain to Breakeven | 308.6% | 24.7% |
| Time to Breakeven | 497 days | 120 days |
How Low Can It Go?
Macrogenics's stock fell -93.7% during the 2022 Inflation Shock from a high on 4/29/2021. A -93.7% loss requires a 1483.6% gain to breakeven.
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About Macrogenics (MGNX)
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.
Latest Trefis Analyses
Trade Ideas
Select past trade ideas related to MGNX and Biotechnology.
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 09302025 | ADMA | ADMA Biologics | Dip Buy | DB | P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin | -4.6% | -4.6% | -4.6% |
| 09302025 | REGN | Regeneron Pharmaceuticals | Dip Buy | DB | P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin | 3.7% | 3.7% | 0.0% |
| 09262025 | HAE | Haemonetics | Dip Buy | DB | FCF Yield | Low D/EDip Buy with High Free Cash Flow Yield Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap | 2.3% | 2.3% | -0.1% |
| 09192025 | WAT | Waters | Monopoly | MY | Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 5.8% | 5.8% | -4.3% |
| 09052025 | ISRG | Intuitive Surgical | Monopoly | MY | Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | -5.6% | -5.6% | -7.1% |
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 09302025 | ADMA | ADMA Biologics | Dip Buy | DB | P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin | -4.6% | -4.6% | -4.6% |
| 09302025 | REGN | Regeneron Pharmaceuticals | Dip Buy | DB | P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin | 3.7% | 3.7% | 0.0% |
| 09262025 | HAE | Haemonetics | Dip Buy | DB | FCF Yield | Low D/EDip Buy with High Free Cash Flow Yield Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap | 2.3% | 2.3% | -0.1% |
| 09192025 | WAT | Waters | Monopoly | MY | Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 5.8% | 5.8% | -4.3% |
| 09052025 | ISRG | Intuitive Surgical | Monopoly | MY | Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | -5.6% | -5.6% | -7.1% |
See Trefis Trade Ideas for more.
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons for Macrogenics
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 27.46 |
| Mkt Cap | 3.0 |
| Rev LTM | 1,268 |
| Op Inc LTM | 175 |
| FCF LTM | 209 |
| FCF 3Y Avg | 190 |
| CFO LTM | 291 |
| CFO 3Y Avg | 250 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 2.8% |
| Rev Chg 3Y Avg | 6.8% |
| Rev Chg Q | 1.8% |
| QoQ Delta Rev Chg LTM | 0.5% |
| Op Mgn LTM | 9.7% |
| Op Mgn 3Y Avg | 7.0% |
| QoQ Delta Op Mgn LTM | 0.3% |
| CFO/Rev LTM | 17.8% |
| CFO/Rev 3Y Avg | 16.9% |
| FCF/Rev LTM | 14.5% |
| FCF/Rev 3Y Avg | 14.1% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 3.0 |
| P/S | 1.9 |
| P/EBIT | 1.3 |
| P/E | -5.7 |
| P/CFO | 8.0 |
| Total Yield | -4.3% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 6.6% |
| D/E | 0.2 |
| Net D/E | -0.1 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -5.1% |
| 3M Rtn | 3.1% |
| 6M Rtn | 9.3% |
| 12M Rtn | 2.2% |
| 3Y Rtn | -13.2% |
| 1M Excs Rtn | -8.2% |
| 3M Excs Rtn | -4.7% |
| 6M Excs Rtn | -22.5% |
| 12M Excs Rtn | -17.0% |
| 3Y Excs Rtn | -97.9% |
Segment Financials
Revenue by Segment
| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Discovering, developing, manufacturing and commercializing innovative antibody-based therapeutics | 59 | 152 | |||
| Collaborative and other agreements | 63 | 98 | 62 | ||
| Contract manufacturing | 0 | ||||
| Government agreements | 2 | 7 | 2 | ||
| Product sales, net | 12 | ||||
| Royalty revenue | 0 | ||||
| Total | 59 | 152 | 77 | 105 | 64 |
Net Income by Segment
| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Discovering, developing, manufacturing and commercializing innovative antibody-based therapeutics | -9 | -120 | |||
| Total | -9 | -120 |
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 3/7/2024 | -15.0% | -21.7% | -10.5% |
| 11/6/2023 | 17.1% | 17.1% | 58.8% |
| 8/9/2023 | 24.3% | 5.0% | 2.8% |
| 3/15/2023 | 10.3% | 5.8% | 2.4% |
| 11/3/2022 | 22.3% | 34.5% | 31.8% |
| 8/8/2022 | 12.1% | 9.2% | -7.0% |
| 2/24/2022 | -7.8% | -18.3% | -16.5% |
| 11/2/2021 | 5.8% | 3.9% | -15.4% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 14 | 12 | 11 |
| # Negative | 5 | 7 | 8 |
| Median Positive | 10.1% | 5.4% | 14.0% |
| Median Negative | -5.0% | -3.6% | -13.0% |
| Max Positive | 230.9% | 257.2% | 169.5% |
| Max Negative | -15.0% | -21.7% | -49.1% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 6302025 | 8142025 | 10-Q 6/30/2025 |
| 3312025 | 5132025 | 10-Q 3/31/2025 |
| 12312024 | 3202025 | 10-K 12/31/2024 |
| 9302024 | 11052024 | 10-Q 9/30/2024 |
| 6302024 | 8062024 | 10-Q 6/30/2024 |
| 3312024 | 5092024 | 10-Q 3/31/2024 |
| 12312023 | 3072024 | 10-K 12/31/2023 |
| 9302023 | 11062023 | 10-Q 9/30/2023 |
| 6302023 | 8092023 | 10-Q 6/30/2023 |
| 3312023 | 5092023 | 10-Q 3/31/2023 |
| 12312022 | 3152023 | 10-K 12/31/2022 |
| 9302022 | 11032022 | 10-Q 9/30/2022 |
| 6302022 | 8082022 | 10-Q 6/30/2022 |
| 3312022 | 5032022 | 10-Q 3/31/2022 |
| 12312021 | 2242022 | 10-K 12/31/2021 |
| 9302021 | 11022021 | 10-Q 9/30/2021 |
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| SeekingAlpha | ValueLine |
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| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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