Renaissance Technologies LLC Has $555,000 Stock Holdings in Metagenomi, Inc. (NASDAQ:MGX)

Renaissance Technologies LLC lowered its position in Metagenomi, Inc. (NASDAQ:MGX) by 15.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 153,800 shares of the company’s stock after selling 28,300 shares during the period. Renaissance Technologies LLC owned about 0.41% of Metagenomi worth $555,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Virtu Financial LLC acquired a new position in Metagenomi in the 3rd quarter worth $33,000. SG Americas Securities LLC bought a new position in shares of Metagenomi during the fourth quarter worth about $43,000. 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 valued at $43,000 after buying an additional 6,626 shares during the last quarter. Corebridge Financial Inc. boosted its position in Metagenomi by 303.1% during the 4th quarter. Corebridge Financial Inc. now owns 13,602 shares of the company’s stock worth $49,000 after acquiring an additional 10,228 shares during the last quarter. Finally, Pinnacle Wealth Planning Services Inc. bought a new position in shares of Metagenomi during the 4th quarter worth approximately $92,000.

Metagenomi Stock Performance

Metagenomi stock opened at $1.61 on Friday. Metagenomi, Inc. has a 52 week low of $1.23 and a 52 week high of $8.17. The stock has a market capitalization of $60.19 million, a P/E ratio of -0.61 and a beta of -0.27. The stock has a fifty day moving average of $1.67 and a 200-day moving average of $2.30.

Metagenomi (NASDAQ:MGX) last issued its earnings results on Monday, March 17th. The company reported ($0.63) EPS for the quarter, missing the consensus estimate of ($0.62) by ($0.01). The business had revenue of $9.61 million for the quarter, compared to analyst estimates of $13.18 million. Metagenomi had a negative return on equity of 43.23% and a negative net margin of 134.27%. During the same period in the previous year, the firm posted ($20.05) EPS. On average, research analysts forecast that Metagenomi, Inc. will post -2.46 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. HC Wainwright lowered their price target on shares of 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 cut their price target on Metagenomi from $25.00 to $20.00 and set an “overweight” rating for the company in a report on Tuesday, March 18th.

Metagenomi 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.