Metagenomi, Inc. Expected to Post Q1 2024 Earnings of ($1.20) Per Share (NASDAQ:MGX)

Metagenomi, Inc. (NASDAQ:MGX) – Equities researchers at HC Wainwright issued their Q1 2024 EPS estimates for Metagenomi in a report issued on Tuesday, May 7th. HC Wainwright analyst M. Kapoor anticipates that the company will post earnings per share of ($1.20) for the quarter. HC Wainwright has a “Buy” rating and a $10.00 price target on the stock. The consensus estimate for Metagenomi’s current full-year earnings is ($2.89) per share. HC Wainwright also issued estimates for Metagenomi’s Q2 2024 earnings at ($0.60) EPS, Q3 2024 earnings at ($0.65) EPS, Q4 2024 earnings at ($0.68) EPS, FY2024 earnings at ($2.89) EPS, Q1 2025 earnings at ($0.67) EPS, Q2 2025 earnings at ($0.68) EPS, Q3 2025 earnings at ($0.70) EPS, Q4 2025 earnings at ($0.72) EPS and FY2025 earnings at ($2.77) EPS.

MGX has been the topic of a number of other reports. Chardan Capital reissued a “buy” rating and issued a $21.00 price target on shares of Metagenomi in a research note on Thursday, March 28th. TD Cowen assumed coverage on shares of Metagenomi in a report on Tuesday, March 5th. They issued an “outperform” rating for the company. Wells Fargo & Company began coverage on shares of Metagenomi in a report on Tuesday, March 5th. They issued an “overweight” rating and a $25.00 price target on the stock. Jefferies Financial Group started coverage on Metagenomi in a research report on Tuesday, March 5th. They issued a “buy” rating and a $23.00 target price on the stock. Finally, BMO Capital Markets initiated coverage on Metagenomi in a research report on Tuesday, March 5th. They set an “outperform” rating and a $22.00 price target for the company. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $17.83.

Metagenomi Stock Performance

MGX stock opened at $6.80 on Thursday. The business’s fifty day simple moving average is $9.55. Metagenomi has a 52-week low of $5.50 and a 52-week high of $12.74.

Insider Activity at Metagenomi

In related news, major shareholder Holdings A/S Novo purchased 800,000 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was purchased at an average price of $15.00 per share, for a total transaction of $12,000,000.00. Following the acquisition, the insider now directly owns 1,739,175 shares in the company, valued at $26,087,625. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Metagenomi Company Profile

Metagenomi, Inc, a genetic medicines company, develops therapeutics for patients using metagenomics-derived genome editing toolbox in the United States. The company's genome editing toolbox includes programmable nucleases, base editors, and RNA and DNA-mediated integration systems, such as prime editing systems and clustered regularly interspaced short palindromic repeat-associated transposases.