Metagenomi, Inc. (NASDAQ:MGX) Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp increased its holdings in Metagenomi, Inc. (NASDAQ:MGX) by 39.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 50,387 shares of the company’s stock after purchasing an additional 14,296 shares during the quarter. Bank of New York Mellon Corp owned 0.13% of Metagenomi worth $69,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Voya Investment Management LLC purchased a new stake in shares of Metagenomi in the fourth quarter valued at approximately $37,000. Price T Rowe Associates Inc. MD acquired a new stake in Metagenomi in the 4th quarter valued at $39,000. Corebridge Financial Inc. increased its holdings in Metagenomi by 303.1% in 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Metagenomi by 338.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,193 shares of the company’s stock worth $55,000 after acquiring an additional 11,730 shares in the last quarter. Finally, Bank of America Corp DE raised its position in Metagenomi by 482.9% during the fourth quarter. Bank of America Corp DE now owns 21,113 shares of the company’s stock worth $76,000 after acquiring an additional 17,491 shares during the period.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MGX. Chardan Capital dropped their target price on shares of Metagenomi from $13.00 to $12.00 and set a “buy” rating on the stock in a research report on Thursday, May 15th. Wall Street Zen cut Metagenomi from a “hold” rating to a “strong sell” rating in a report on Thursday, May 22nd. Finally, Wells Fargo & Company reissued an “overweight” rating and set a $16.00 target price (down previously from $20.00) on shares of Metagenomi in a report on Wednesday, May 14th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $13.00.

Metagenomi Trading Down 5.8%

NASDAQ:MGX opened at $2.10 on Thursday. The company has a market cap of $78.50 million, a P/E ratio of -1.00 and a beta of -0.12. Metagenomi, Inc. has a twelve month low of $1.23 and a twelve month high of $4.92. The company’s 50-day moving average price is $1.87 and its 200-day moving average price is $1.90.

Metagenomi (NASDAQ:MGX) last released its earnings results on Tuesday, May 13th. The company reported ($0.68) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.06). The business had revenue of $4.13 million during the quarter, compared to analysts’ expectations of $8.75 million. Metagenomi had a negative return on equity of 31.21% and a negative net margin of 172.21%. On average, analysts expect that Metagenomi, Inc. will post -2.46 earnings per share for the current year.

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.