Goldman Sachs Group Inc. Trims Stock Position in Metagenomi, Inc. $MGX

Goldman Sachs Group Inc. lessened its position in shares of Metagenomi, Inc. (NASDAQ:MGX) by 53.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 79,864 shares of the company’s stock after selling 93,320 shares during the period. Goldman Sachs Group Inc. owned approximately 0.21% of Metagenomi worth $109,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake 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 purchasing an additional 11,730 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Metagenomi by 39.6% in the 1st quarter. Bank of New York Mellon Corp now owns 50,387 shares of the company’s stock worth $69,000 after purchasing an additional 14,296 shares in the last quarter. Bank of America Corp DE lifted its stake in Metagenomi by 482.9% in the 4th quarter. Bank of America Corp DE now owns 21,113 shares of the company’s stock worth $76,000 after purchasing an additional 17,491 shares in the last quarter. Jane Street Group LLC purchased a new stake in Metagenomi in the 4th quarter worth approximately $107,000. Finally, Virtu Financial LLC purchased a new stake in Metagenomi in the 1st quarter worth approximately $43,000.

Analyst Ratings Changes

Several research firms have issued reports on MGX. Chardan Capital lowered their target price on shares of Metagenomi from $12.00 to $11.00 and set a “buy” rating on the stock in a research note on Friday, August 15th. Wells Fargo & Company lowered their price objective on shares of Metagenomi from $16.00 to $12.00 and set an “overweight” rating on the stock in a research report on Thursday, August 14th. Finally, HC Wainwright restated a “buy” rating and set a $7.00 price objective on shares of Metagenomi in a research report on Tuesday, August 19th. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $10.00.

Metagenomi Stock Up 0.4%

NASDAQ MGX opened at $2.30 on Tuesday. The company has a 50-day simple moving average of $2.03 and a two-hundred day simple moving average of $1.77. Metagenomi, Inc. has a 12-month low of $1.23 and a 12-month high of $4.92. The firm has a market cap of $86.32 million, a price-to-earnings ratio of -0.97 and a beta of -0.16.

Metagenomi (NASDAQ:MGX) last announced its quarterly earnings data on Tuesday, August 12th. The company reported ($0.54) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.14. Metagenomi had a negative return on equity of 37.84% and a negative net margin of 257.99%.The firm had revenue of $8.51 million for the quarter, compared to analysts’ expectations of $7.72 million. Equities analysts expect that Metagenomi, Inc. will post -2.46 earnings per share for the current fiscal year.

About Metagenomi

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.