Educational use only — not investment advice. "Undervalued / fairly valued / overvalued" and every risk score reflect our models vs. price, which can be wrong or based on stale or incomplete data. Always review the company's own financials and SEC filings, and consult a licensed advisor, before acting.
This week in Biotech
Biotech — Sep 7 – Sep 11, 2026 (Wk 37): Biotech Risk Score Rises; Novartis Faces Setback, Encoded Therapeutics Sees Investment →The biotech sector's risk score increased this week, indicating a potentially more volatile environment. Novartis experienced a clinical trial failure, while RTW Biotech Opportunities made an additional investment in Encoded Therapeutics, highlighting continued activity in specific…
LAB
Valuation N/A
STANDARD BIOTOOLS INC.
Price$0.69
Model IV—
P/IV—
Market implies +36.7%/yr
vs model +2.0% · above model
LABT
Valuation N/A
Lakewood-Amedex Biotherapeutics Inc.
Price$2.12
Model IV—
P/IV—
Limited data — see page
LBRX
Valuation N/A
LB PHARMACEUTICALS INC
Price$44.84
Model IV—
P/IV—
Limited data — see page
LCTX
Valuation N/A
Lineage Cell Therapeutics, Inc.
Price$1.01
Model IV—
P/IV—
Market implies +28.1%/yr
vs model +35.3% · below model
LEGN
Valuation N/A
Legend Biotech Corp
Price$18.64
Model IV—
P/IV—
Limited data — see page
LENZ
Valuation N/A
LENZ Therapeutics, Inc.
Price$4.23
Model IV—
P/IV—
Market implies +26.5%/yr
vs model +15.0% · above model
LGND
Valuation N/A
LIGAND PHARMACEUTICALS INC
Price$284.47
Model IV—
P/IV—
Market implies +36.2%/yr
vs model +2.6% · above model
LGVN
Valuation N/A
Longeveron Inc.
Price$7.33
Model IV—
P/IV—
Market implies +150.0%/yr
vs model +14.1% · above model
LH
Undervalued
LABCORP HOLDINGS INC.
Price$311.54
Model IV$397.08
P/IV0.65
Discount 22%
Return to IV: +27.5%
Market implies +3.3%/yr
vs model +7.8% · below model
LIMN
Valuation N/A
Liminatus Pharma, Inc.
Price$3.47
Model IV—
P/IV—
Limited data — see page
LIMNW
Valuation N/A
Liminatus Pharma, Inc.
Price$0.04
Model IV—
P/IV—
Limited data — see page
LITS
Valuation N/A
Lite Strategy, Inc.
Price$1.11
Model IV—
P/IV—
Market implies -22.3%/yr
vs model +15.0% · below model
LIXT
Valuation N/A
LIXTE BIOTECHNOLOGY HOLDINGS, INC.
Price$3.66
Model IV—
P/IV—
Limited data — see page
LNAI
Valuation N/A
Lunai Bioworks Inc.
Price$2.38
Model IV—
P/IV—
Limited data — see page
LONA
Valuation N/A
LeonaBio, Inc.
Price$6.92
Model IV—
P/IV—
Limited data — see page
LQDA
Deeply overvalued
Liquidia Corp
Price$66.74
Model IV$13.70
P/IV4.52
Premium +387%
Return to IV: -79.5%
Market implies +20.7%/yr
vs model +50.0% · below model
LRMR
Valuation N/A
Larimar Therapeutics, Inc.
Price$3.92
Model IV—
P/IV—
Limited data — see page
LTRN
Valuation N/A
Lantern Pharma Inc.
Price$1.70
Model IV—
P/IV—
Limited data — see page
LXEO
Valuation N/A
Lexeo Therapeutics, Inc.
Price$4.25
Model IV—
P/IV—
Market implies +92.4%/yr
vs model +15.0% · above model
LXRX
Valuation N/A
LEXICON PHARMACEUTICALS, INC.
Price$2.00
Model IV—
P/IV—
Market implies +43.9%/yr
vs model +15.0% · above model
LYEL
Valuation N/A
Lyell Immunopharma, Inc.
Price$11.96
Model IV—
P/IV—
Market implies +150.0%/yr
vs model +2.0% · above model
MANE
Valuation N/A
Veradermics, Inc
Price$103.89
Model IV—
P/IV—
Limited data — see page
MASS
Valuation N/A
908 Devices Inc.
Price$9.52
Model IV—
P/IV—
Market implies +29.1%/yr
vs model +7.4% · above model
MAZE
Valuation N/A
Maze Therapeutics, Inc.
Price$24.23
Model IV—
P/IV—
Market implies +20.0%/yr
vs model +15.0% · above model
MBIO
Valuation N/A
MUSTANG BIO, INC.
Price$0.50
Model IV—
P/IV—
Limited data — see page
MBRX
Valuation N/A
Moleculin Biotech, Inc.
Price$0.72
Model IV—
P/IV—
Limited data — see page
MBX
Valuation N/A
MBX Biosciences, Inc.
Price$59.49
Model IV—
P/IV—
Limited data — see page
MCRB
Valuation N/A
Seres Therapeutics, Inc.
Price$4.60
Model IV—
P/IV—
Market implies +82.6%/yr
vs model +2.0% · above model
MDCX
Valuation N/A
Medicus Pharma Ltd.
Price$0.15
Model IV—
P/IV—
Limited data — see page
MDCXW
Valuation N/A
Medicus Pharma Ltd.
Price$0.32
Model IV—
P/IV—
Limited data — see page
MDGL
Deeply overvalued
MADRIGAL PHARMACEUTICALS, INC.
Price$523.26
Model IV$135.61
P/IV3.67
Premium +286%
Return to IV: -74.1%
Market implies +10.3%/yr
vs model +15.0% · below model
MDWD
Valuation N/A
MediWound Ltd.
Price$13.47
Model IV—
P/IV—
Limited data — see page
MDXG
Deeply undervalued
MIMEDX GROUP, INC.
Price$4.72
Model IV$9.10
P/IV0.40
Discount 48%
Return to IV: +92.7%
Market implies +0.9%/yr
vs model +13.3% · below model
MEDP
Undervalued
Medpace Holdings, Inc.
Price$595.41
Model IV$767.78
P/IV0.58
Discount 22%
Return to IV: +28.9%
Market implies +12.7%/yr
vs model +21.2% · below model
MENS
Valuation N/A
Jyong Biotech Ltd.
Price$1.99
Model IV—
P/IV—
Limited data — see page
MESO
Valuation N/A
MESOBLAST LTD
Price$15.48
Model IV—
P/IV—
Limited data — see page
MGNX
Deeply overvalued
MACROGENICS INC
Price$4.00
Model IV$2.64
P/IV1.57
Premium +51%
Return to IV: -33.9%
Market implies +3.8%/yr
vs model +17.9% · below model
MGTX
Valuation N/A
MeiraGTx Holdings plc
Price$12.76
Model IV—
P/IV—
Market implies +40.8%/yr
vs model +21.2% · above model
MGX
Valuation N/A
Metagenomi Therapeutics, Inc.
Price$1.16
Model IV—
P/IV—
Market implies +42.8%/yr
vs model +2.0% · above model
MIRA
Valuation N/A
MIRA PHARMACEUTICALS, INC.
Price$0.77
Model IV—
P/IV—
Limited data — see page
MLECW
Deeply undervalued
Moolec Science SA
Price$0.02
Model IV$0.02
P/IV0.68
Discount 32%
Return to IV: +47.1%
Market implies -25.0%/yr
vs model +15.0% · below model
MLTX
Valuation N/A
MoonLake Immunotherapeutics
Price$12.20
Model IV—
P/IV—
Limited data — see page
MLYS
Valuation N/A
Mineralys Therapeutics, Inc.
Price$28.20
Model IV—
P/IV—
Limited data — see page
MNKD
Deeply undervalued
MANNKIND CORP
Price$3.56
Model IV$8.72
P/IV0.58
Discount 59%
Return to IV: +145.0%
Market implies -16.1%/yr
vs model +46.7% · below model
MNOV
Valuation N/A
MEDICINOVA INC
Price$1.81
Model IV—
P/IV—
Market implies +68.2%/yr
vs model +2.0% · above model
MNPR
Valuation N/A
Monopar Therapeutics
Price$104.33
Model IV—
P/IV—
Limited data — see page
MOLN
Valuation N/A
MOLECULAR PARTNERS AG
Price$4.18
Model IV—
P/IV—
Limited data — see page
MPLT
Valuation N/A
MapLight Therapeutics, Inc.
Price$13.00
Model IV—
P/IV—
Limited data — see page
MRKR
Deeply overvalued
Marker Therapeutics, Inc.
Price$1.17
Model IV$0.56
P/IV2.79
Premium +108%
Return to IV: -51.9%
Market implies +4.5%/yr
vs model +30.0% · below model
MRNA
Valuation N/A
Moderna, Inc.
Price$143.97
Model IV—
P/IV—
Market implies +73.3%/yr
vs model +2.0% · above model
MRVI
Valuation N/A
MARAVAI LIFESCIENCES HOLDINGS, INC.
Price$6.53
Model IV—
P/IV—
Market implies +55.5%/yr
vs model +2.0% · above model
MSLE
Valuation N/A
Satellos Bioscience Inc.
Price$9.75
Model IV—
P/IV—
Limited data — see page
MTNB
Valuation N/A
Matinas BioPharma Holdings, Inc.
Price$0.19
Model IV—
P/IV—
Market implies -8.9%/yr
vs model +15.0% · below model
MTVA
Valuation N/A
MetaVia Inc.
Price$1.58
Model IV—
P/IV—
Limited data — see page
MXCT
Valuation N/A
MAXCYTE, INC.
Price$1.16
Model IV—
P/IV—
Market implies +30.8%/yr
vs model +2.0% · above model
NAMS
Valuation N/A
NewAmsterdam Pharma Co N.V.
Price$22.80
Model IV—
P/IV—
Market implies +69.3%/yr
vs model +15.0% · above model
NAUT
Valuation N/A
Nautilus Biotechnology, Inc.
Price$1.02
Model IV—
P/IV—
Limited data — see page
NBIX
Deeply undervalued
NEUROCRINE BIOSCIENCES INC
Price$156.22
Model IV$244.63
P/IV0.65
Discount 36%
Return to IV: +56.6%
Market implies +10.1%/yr
vs model +21.2% · below model
NBP
Valuation N/A
NovaBridge Biosciences
Price$1.59
Model IV—
P/IV—
Market implies +88.8%/yr
vs model +15.0% · above model
NBTX
Valuation N/A
Nanobiotix S.A.
Price$35.73
Model IV—
P/IV—
Limited data — see page