Wells Fargo & Company MN Increases Stake in Metagenomi, Inc. (NASDAQ:MGX)

Wells Fargo & Company MN grew its position in Metagenomi, Inc. (NASDAQ:MGX) by 54.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 95,188 shares of the company’s stock after buying an additional 33,582 shares during the period. Wells Fargo & Company MN owned approximately 0.25% of Metagenomi worth $344,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Rhumbline Advisers increased its holdings 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 buying an additional 6,626 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Metagenomi in the fourth quarter worth approximately $43,000. Corebridge Financial Inc. raised its holdings in shares of Metagenomi by 303.1% during the fourth quarter. Corebridge Financial Inc. now owns 13,602 shares of the company’s stock valued at $49,000 after purchasing an additional 10,228 shares during the last quarter. Virtu Financial LLC bought a new position in Metagenomi during the third quarter valued at approximately $33,000. Finally, Pinnacle Wealth Planning Services Inc. bought a new position in Metagenomi during the fourth quarter valued at approximately $92,000.

Metagenomi Trading Down 2.5 %

Shares of MGX stock opened at $1.57 on Tuesday. Metagenomi, Inc. has a 12 month low of $1.23 and a 12 month high of $8.17. The stock has a market cap of $58.69 million, a P/E ratio of -0.60 and a beta of -0.65. The company has a 50 day simple moving average of $1.66 and a two-hundred day simple moving average of $2.30.

Metagenomi (NASDAQ:MGX) last posted its quarterly earnings data on Monday, March 17th. The company reported ($0.63) EPS for the quarter, missing the consensus estimate of ($0.62) by ($0.01). The company had revenue of $9.61 million during the quarter, compared to analysts’ expectations 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 quarter last year, the company earned ($20.05) earnings per share. As a group, equities analysts forecast that Metagenomi, Inc. will post -2.46 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have weighed in on MGX. Wells Fargo & Company decreased their target price on shares of Metagenomi from $25.00 to $20.00 and set an “overweight” rating for the company in a research note on Tuesday, March 18th. HC Wainwright reduced their price objective on Metagenomi from $14.00 to $7.00 and set a “buy” rating for the company in a research report on Thursday, April 3rd.

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.