Geode Capital Management LLC Has $2.12 Million Stock Position in Metagenomi, Inc. (NASDAQ:MGX)

Geode Capital Management LLC raised its position in Metagenomi, Inc. (NASDAQ:MGX) by 73.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 587,421 shares of the company’s stock after buying an additional 249,390 shares during the period. Geode Capital Management LLC owned 1.57% of Metagenomi worth $2,121,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Rhumbline Advisers raised its position in Metagenomi by 123.3% in the 4th quarter. Rhumbline Advisers now owns 11,998 shares of the company’s stock worth $43,000 after purchasing an additional 6,626 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Metagenomi during the fourth quarter worth approximately $43,000. Corebridge Financial Inc. lifted its holdings in Metagenomi by 303.1% in the fourth quarter. Corebridge Financial Inc. now owns 13,602 shares of the company’s stock valued at $49,000 after buying an additional 10,228 shares during the period. Virtu Financial LLC bought a new position in Metagenomi in the third quarter valued at approximately $33,000. Finally, Pinnacle Wealth Planning Services Inc. bought a new position in Metagenomi in the fourth quarter valued at approximately $92,000.

Metagenomi Stock Down 2.4 %

Shares of MGX stock opened at $1.65 on Wednesday. Metagenomi, Inc. has a 12-month low of $1.23 and a 12-month high of $8.30. The firm has a market capitalization of $61.68 million, a price-to-earnings ratio of -0.63 and a beta of -0.27. The firm has a fifty day moving average of $1.71 and a 200-day moving average of $2.31.

Metagenomi (NASDAQ:MGX) last released its quarterly earnings data on Monday, March 17th. The company reported ($0.63) earnings per share for the quarter, missing the consensus estimate of ($0.62) by ($0.01). Metagenomi had a negative net margin of 134.27% and a negative return on equity of 43.23%. The business had revenue of $9.61 million for the quarter, compared to the consensus estimate of $13.18 million. During the same quarter last year, the firm earned ($20.05) EPS. Research analysts expect that Metagenomi, Inc. will post -2.46 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on MGX shares. HC Wainwright cut their price target on Metagenomi from $14.00 to $7.00 and set a “buy” rating on the stock in a research note on Thursday, April 3rd. Wells Fargo & Company dropped their price objective on Metagenomi from $25.00 to $20.00 and set an “overweight” rating for the company in a report on Tuesday, March 18th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Metagenomi currently has a consensus rating of “Moderate Buy” and an average price target of $13.00.

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.