<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/schedule13g" xmlns:com="http://www.sec.gov/edgar/common">
  <headerData>
    <submissionType>SCHEDULE 13G/A</submissionType>
		<previousAccessionNumber>0001193125-24-262283</previousAccessionNumber>
	    <filerInfo>
      <filer>
        <filerCredentials>
          <cik>0001863769</cik>
          <ccc>XXXXXXXX</ccc>
        </filerCredentials>
      </filer>
      <liveTestFlag>LIVE</liveTestFlag>





    </filerInfo>
  </headerData>

  <formData>
    <coverPageHeader>
		<amendmentNo>2</amendmentNo>
	      <securitiesClassTitle>Common Stock, par value $0.01 per share</securitiesClassTitle>
      <eventDateRequiresFilingThisStatement>12/31/2025</eventDateRequiresFilingThisStatement>
      <issuerInfo>
        <issuerCik>0001125345</issuerCik>        <issuerName>MACROGENICS, INC.</issuerName>        <issuerCusip>556099109</issuerCusip>
        <issuerPrincipalExecutiveOfficeAddress>
          <com:street1>9704 Medical Center Drive</com:street1>
                    <com:city>Rockville</com:city>
          <com:stateOrCountry>MD</com:stateOrCountry>
          <com:zipCode>20850</com:zipCode>
        </issuerPrincipalExecutiveOfficeAddress>
      </issuerInfo>

	        <designateRulesPursuantThisScheduleFiled>
	   				        <designateRulePursuantThisScheduleFiled>Rule 13d-1(c)</designateRulePursuantThisScheduleFiled>
		      </designateRulesPursuantThisScheduleFiled>

    </coverPageHeader>

	    <coverPageHeaderReportingPersonDetails>




    <reportingPersonName>Frazier Life Sciences Public Fund, L.P. </reportingPersonName>

	  		<memberGroup>b</memberGroup>


		 <citizenshipOrOrganization>DE</citizenshipOrOrganization>

      <reportingPersonBeneficiallyOwnedNumberOfShares>
                <soleVotingPower>0.00</soleVotingPower>
                          <sharedVotingPower>0.00</sharedVotingPower>
                          <soleDispositivePower>0.00</soleDispositivePower>
                         <sharedDispositivePower>0.00</sharedDispositivePower>
             </reportingPersonBeneficiallyOwnedNumberOfShares>

              <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>0.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>


     	    <classPercent>0.0</classPercent>





	        <typeOfReportingPerson>PN</typeOfReportingPerson>









    </coverPageHeaderReportingPersonDetails>
	    <coverPageHeaderReportingPersonDetails>




    <reportingPersonName>FHMLSP, L.P. </reportingPersonName>

	  		<memberGroup>b</memberGroup>


		 <citizenshipOrOrganization>DE</citizenshipOrOrganization>

      <reportingPersonBeneficiallyOwnedNumberOfShares>
                <soleVotingPower>0.00</soleVotingPower>
                          <sharedVotingPower>0.00</sharedVotingPower>
                          <soleDispositivePower>0.00</soleDispositivePower>
                         <sharedDispositivePower>0.00</sharedDispositivePower>
             </reportingPersonBeneficiallyOwnedNumberOfShares>

              <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>0.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>


     	    <classPercent>0.0</classPercent>





	        <typeOfReportingPerson>PN</typeOfReportingPerson>









    </coverPageHeaderReportingPersonDetails>
	    <coverPageHeaderReportingPersonDetails>




    <reportingPersonName>FHMLSP, L.L.C. </reportingPersonName>

	  		<memberGroup>b</memberGroup>


		 <citizenshipOrOrganization>DE</citizenshipOrOrganization>

      <reportingPersonBeneficiallyOwnedNumberOfShares>
                <soleVotingPower>0.00</soleVotingPower>
                          <sharedVotingPower>0.00</sharedVotingPower>
                          <soleDispositivePower>0.00</soleDispositivePower>
                         <sharedDispositivePower>0.00</sharedDispositivePower>
             </reportingPersonBeneficiallyOwnedNumberOfShares>

              <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>0.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>


     	    <classPercent>0.0</classPercent>











	        <typeOfReportingPerson>OO</typeOfReportingPerson>



    </coverPageHeaderReportingPersonDetails>
	    <coverPageHeaderReportingPersonDetails>




    <reportingPersonName>Frazier Life Sciences X, L.P.</reportingPersonName>

	  		<memberGroup>b</memberGroup>


		 <citizenshipOrOrganization>DE</citizenshipOrOrganization>

      <reportingPersonBeneficiallyOwnedNumberOfShares>
                <soleVotingPower>0.00</soleVotingPower>
                          <sharedVotingPower>0.00</sharedVotingPower>
                          <soleDispositivePower>0.00</soleDispositivePower>
                         <sharedDispositivePower>0.00</sharedDispositivePower>
             </reportingPersonBeneficiallyOwnedNumberOfShares>

              <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>0.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>


     	    <classPercent>0.0</classPercent>





	        <typeOfReportingPerson>PN</typeOfReportingPerson>









    </coverPageHeaderReportingPersonDetails>
	    <coverPageHeaderReportingPersonDetails>




    <reportingPersonName>FHMLS X, L.P.</reportingPersonName>

	  		<memberGroup>b</memberGroup>


		 <citizenshipOrOrganization>DE</citizenshipOrOrganization>

      <reportingPersonBeneficiallyOwnedNumberOfShares>
                <soleVotingPower>0.00</soleVotingPower>
                          <sharedVotingPower>0.00</sharedVotingPower>
                          <soleDispositivePower>0.00</soleDispositivePower>
                         <sharedDispositivePower>0.00</sharedDispositivePower>
             </reportingPersonBeneficiallyOwnedNumberOfShares>

              <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>0.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>


     	    <classPercent>0.0</classPercent>





	        <typeOfReportingPerson>PN</typeOfReportingPerson>









    </coverPageHeaderReportingPersonDetails>
	    <coverPageHeaderReportingPersonDetails>




    <reportingPersonName>FHMLS X, L.L.C.</reportingPersonName>

	  		<memberGroup>b</memberGroup>


		 <citizenshipOrOrganization>DE</citizenshipOrOrganization>

      <reportingPersonBeneficiallyOwnedNumberOfShares>
                <soleVotingPower>0.00</soleVotingPower>
                          <sharedVotingPower>0.00</sharedVotingPower>
                          <soleDispositivePower>0.00</soleDispositivePower>
                         <sharedDispositivePower>0.00</sharedDispositivePower>
             </reportingPersonBeneficiallyOwnedNumberOfShares>

              <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>0.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>


     	    <classPercent>0.0</classPercent>











	        <typeOfReportingPerson>OO</typeOfReportingPerson>



    </coverPageHeaderReportingPersonDetails>
	    <coverPageHeaderReportingPersonDetails>




    <reportingPersonName>Frazier Life Sciences XI, L.P.  </reportingPersonName>

	  		<memberGroup>b</memberGroup>


		 <citizenshipOrOrganization>DE</citizenshipOrOrganization>

      <reportingPersonBeneficiallyOwnedNumberOfShares>
                <soleVotingPower>0.00</soleVotingPower>
                          <sharedVotingPower>0.00</sharedVotingPower>
                          <soleDispositivePower>0.00</soleDispositivePower>
                         <sharedDispositivePower>0.00</sharedDispositivePower>
             </reportingPersonBeneficiallyOwnedNumberOfShares>

              <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>0.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>


     	    <classPercent>0.0</classPercent>





	        <typeOfReportingPerson>PN</typeOfReportingPerson>









    </coverPageHeaderReportingPersonDetails>
	    <coverPageHeaderReportingPersonDetails>




    <reportingPersonName>FHMLS XI, L.P.</reportingPersonName>

	  		<memberGroup>b</memberGroup>


		 <citizenshipOrOrganization>DE</citizenshipOrOrganization>

      <reportingPersonBeneficiallyOwnedNumberOfShares>
                <soleVotingPower>0.00</soleVotingPower>
                          <sharedVotingPower>0.00</sharedVotingPower>
                          <soleDispositivePower>0.00</soleDispositivePower>
                         <sharedDispositivePower>0.00</sharedDispositivePower>
             </reportingPersonBeneficiallyOwnedNumberOfShares>

              <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>0.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>


     	    <classPercent>0.0</classPercent>





	        <typeOfReportingPerson>PN</typeOfReportingPerson>









    </coverPageHeaderReportingPersonDetails>
	    <coverPageHeaderReportingPersonDetails>




    <reportingPersonName>FHMLS XI, L.L.C.</reportingPersonName>

	  		<memberGroup>b</memberGroup>


		 <citizenshipOrOrganization>DE</citizenshipOrOrganization>

      <reportingPersonBeneficiallyOwnedNumberOfShares>
                <soleVotingPower>0.00</soleVotingPower>
                          <sharedVotingPower>0.00</sharedVotingPower>
                          <soleDispositivePower>0.00</soleDispositivePower>
                         <sharedDispositivePower>0.00</sharedDispositivePower>
             </reportingPersonBeneficiallyOwnedNumberOfShares>

              <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>0.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>


     	    <classPercent>0.0</classPercent>











	        <typeOfReportingPerson>OO</typeOfReportingPerson>



    </coverPageHeaderReportingPersonDetails>
	    <coverPageHeaderReportingPersonDetails>




    <reportingPersonName>James N. Topper</reportingPersonName>

	  		<memberGroup>b</memberGroup>


		 <citizenshipOrOrganization>X1</citizenshipOrOrganization>

      <reportingPersonBeneficiallyOwnedNumberOfShares>
                <soleVotingPower>0.00</soleVotingPower>
                          <sharedVotingPower>0.00</sharedVotingPower>
                          <soleDispositivePower>0.00</soleDispositivePower>
                         <sharedDispositivePower>0.00</sharedDispositivePower>
             </reportingPersonBeneficiallyOwnedNumberOfShares>

              <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>0.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>


     	    <classPercent>0.0</classPercent>










	        <typeOfReportingPerson>IN</typeOfReportingPerson>




    </coverPageHeaderReportingPersonDetails>
	    <coverPageHeaderReportingPersonDetails>




    <reportingPersonName>Patrick J. Heron</reportingPersonName>

	  		<memberGroup>b</memberGroup>


		 <citizenshipOrOrganization>X1</citizenshipOrOrganization>

      <reportingPersonBeneficiallyOwnedNumberOfShares>
                <soleVotingPower>0.00</soleVotingPower>
                          <sharedVotingPower>0.00</sharedVotingPower>
                          <soleDispositivePower>0.00</soleDispositivePower>
                         <sharedDispositivePower>0.00</sharedDispositivePower>
             </reportingPersonBeneficiallyOwnedNumberOfShares>

              <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>0.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>


     	    <classPercent>0.0</classPercent>










	        <typeOfReportingPerson>IN</typeOfReportingPerson>




    </coverPageHeaderReportingPersonDetails>

    <items>
      <item1>
        <issuerName>MACROGENICS, INC.</issuerName>
        <issuerPrincipalExecutiveOfficeAddress>9704 Medical Center Drive, Rockville, MD, 20850.</issuerPrincipalExecutiveOfficeAddress>
      </item1>

      <item2>
        <filingPersonName>The entities and persons filing this statement (collectively, the "Reporting Persons") are:

Frazier Life Sciences Public Fund, L.P. ("FLSPF")
FHMLSP, L.P.
FHMLSP, L.L.C.
Frazier Life Sciences X, L.P. ("FLS X")
FHMLS X, L.P.
FHMLS X, L.L.C.
Frazier Life Sciences XI, L.P. ("FLS XI")
FHMLS XI, L.P.
FHMLS XI, L.L.C.
James N. Topper ("Topper")
Patrick J. Heron ("Heron" and together with Topper, the "Members")
</filingPersonName>        <principalBusinessOfficeOrResidenceAddress>The address of the principal place of business for each of the Reporting Persons is:

c/o Frazier Life Sciences Management, L.P.
1001 Page Mill Rd, Building 4, Suite B
Palo Alto, CA 94304
</principalBusinessOfficeOrResidenceAddress>        <citizenship>The information contained in row 4 of each Reporting Person's cover page to this Statement is incorporated by reference.</citizenship>      </item2>

        <item3>
		        <notApplicableFlag>Y</notApplicableFlag>

      </item3>



    <item4>
    <amountBeneficiallyOwned>The information contained in row 9 of each Reporting Person's cover page to this Statement (including the footnotes thereto) is incorporated by reference.

Except as specifically stated herein, the filing of this Statement shall not be construed as an admission that any Reporting Person or any of the foregoing is, for the purposes of Section 13(d) and/or Section 13(g) of the Act or otherwise, the beneficial owner of any securities covered by this Statement or a member of a "group" with any other person.</amountBeneficiallyOwned>    <classPercent>The information contained in row 11 of each Reporting Person's cover page to this Schedule 13G (including the footnotes thereto) is incorporated by reference.</classPercent>
      <numberOfSharesPersonHas>
        <solePowerOrDirectToVote>The information contained in row 5 of each Reporting Person's cover page to this Schedule 13G (including the footnotes thereto) is incorporated by reference.</solePowerOrDirectToVote>
        <sharedPowerOrDirectToVote>The information contained in row 6 of each Reporting Person's cover page to this Schedule 13G (including the footnotes thereto) is incorporated by reference.</sharedPowerOrDirectToVote>
        <solePowerOrDirectToDispose>The information contained in row 7 of each Reporting Person's cover page to this Schedule 13G (including the footnotes thereto) is incorporated by reference.</solePowerOrDirectToDispose>
        <sharedPowerOrDirectToDispose>The information contained in row 8 of each Reporting Person's cover page to this Schedule 13G (including the footnotes thereto) is incorporated by reference.
</sharedPowerOrDirectToDispose>
      </numberOfSharesPersonHas>
    </item4>


        <item5>

            <notApplicableFlag>N</notApplicableFlag>
        <classOwnership5PercentOrLess>Y</classOwnership5PercentOrLess>

    </item5>


        <item6>
	  	  <notApplicableFlag>Y</notApplicableFlag>
		        </item6>


        <item7>
	  	  <notApplicableFlag>Y</notApplicableFlag>


    </item7>


          <item8>
                <notApplicableFlag>Y</notApplicableFlag>

              </item8>


            <item9>
                <notApplicableFlag>Y</notApplicableFlag>
                      </item9>


      <item10>
                <notApplicableFlag>N</notApplicableFlag>
        <certifications>By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.</certifications>

      </item10>
    </items>

		<exhibitInfo>Exhibit 99.1 Joint Filing Agreement</exhibitInfo>

	    <signatureInformation>
      <reportingPersonName>Frazier Life Sciences Public Fund, L.P. </reportingPersonName>

      <signatureDetails>
        <signature>/s/ Jennifer Martin</signature>
        <title>By Jennifer, CFO of FHMLSP, L.L.C., GP of FHMLSP, L.P., GP of Frazier Life Sciences Public Fund, L.P.</title>
        <date>02/13/2026</date>
      </signatureDetails>

    </signatureInformation>
	     <signatureInformation>
      <reportingPersonName>FHMLSP, L.P. </reportingPersonName>

      <signatureDetails>
        <signature>/s/ Jennifer Martin</signature>
        <title>By Jennifer Martin, CFO of FHMLSP, L.L.C., GP of FHMLSP, L.P.</title>
        <date>02/13/2026</date>
      </signatureDetails>

    </signatureInformation>
	     <signatureInformation>
      <reportingPersonName>FHMLSP, L.L.C. </reportingPersonName>

      <signatureDetails>
        <signature>/s/ Jennifer Martin</signature>
        <title>By Jennifer Martin, CFO of FHMLSP, L.L.C. </title>
        <date>02/13/2026</date>
      </signatureDetails>

    </signatureInformation>
	     <signatureInformation>
      <reportingPersonName>Frazier Life Sciences X, L.P.</reportingPersonName>

      <signatureDetails>
        <signature>/s/ Jennifer Martin</signature>
        <title>By Jennifer Martin, CFO of FHMLS X, L.L.C., GP of FHMLS X, L.P., GP of Frazier Life Sciences X, L.P.</title>
        <date>02/13/2026</date>
      </signatureDetails>

    </signatureInformation>
	     <signatureInformation>
      <reportingPersonName>FHMLS X, L.P.</reportingPersonName>

      <signatureDetails>
        <signature>/s/ Jennifer Martin</signature>
        <title>By Jennifer Martin, CFO of FHMLS X, L.L.C., GP of FHMLS X, L.P.</title>
        <date>02/13/2026</date>
      </signatureDetails>

    </signatureInformation>
	     <signatureInformation>
      <reportingPersonName>FHMLS X, L.L.C.</reportingPersonName>

      <signatureDetails>
        <signature>/s/ Jennifer Martin</signature>
        <title>By Jennifer Martin, CFO of FHMLS X, L.L.C. </title>
        <date>02/13/2026</date>
      </signatureDetails>

    </signatureInformation>
	     <signatureInformation>
      <reportingPersonName>Frazier Life Sciences XI, L.P.  </reportingPersonName>

      <signatureDetails>
        <signature>/s/ Jennifer Martin</signature>
        <title>By Jennifer Martin, CFO of FHMLS XI, L.L.C., GP of FHMLS XI, L.P., GP of Frazier Life Sciences XI, L.P.</title>
        <date>02/13/2026</date>
      </signatureDetails>

    </signatureInformation>
	     <signatureInformation>
      <reportingPersonName>FHMLS XI, L.P.</reportingPersonName>

      <signatureDetails>
        <signature>/s/ Jennifer Martin</signature>
        <title>By Jennifer Martin, CFO of FHMLS XI, L.L.C., GP of FHMLS XI, L.P.</title>
        <date>02/13/2026</date>
      </signatureDetails>

    </signatureInformation>
	     <signatureInformation>
      <reportingPersonName>FHMLS XI, L.L.C.</reportingPersonName>

      <signatureDetails>
        <signature>/s/ Jennifer Martin</signature>
        <title>By Jennifer Martin, CFO of FHMLS XI, L.L.C. </title>
        <date>02/13/2026</date>
      </signatureDetails>

    </signatureInformation>
	     <signatureInformation>
      <reportingPersonName>James N. Topper</reportingPersonName>

      <signatureDetails>
        <signature>/s/ Jennifer Martin</signature>
        <title>By Jennifer Martin, Attorney-in-Fact for James N. Topper, pursuant to a Power of Attorney, a copy of which was filed with the SEC on January 27, 2026</title>
        <date>02/13/2026</date>
      </signatureDetails>

    </signatureInformation>
	     <signatureInformation>
      <reportingPersonName>Patrick J. Heron</reportingPersonName>

      <signatureDetails>
        <signature>/s/ Jennifer Martin</signature>
        <title>By Jennifer Martin, Attorney-in-Fact for Patrick Heron, pursuant to a Power of Attorney, a copy of which was filed with the SEC on January 27, 2026</title>
        <date>02/13/2026</date>
      </signatureDetails>

    </signatureInformation>



  </formData>


    </edgarSubmission>
