Metagenomi, Inc. (NASDAQ:MGX) Receives $7.00 Consensus PT from Analysts

Metagenomi, Inc. (NASDAQ:MGX) has received a consensus rating of “Moderate Buy” from the five brokerages that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $7.00.

A number of equities research analysts recently weighed in on MGX shares. Wells Fargo & Company reduced their price target on shares of Metagenomi from $12.00 to $9.00 and set an “overweight” rating for the company in a research report on Tuesday, May 12th. Chardan Capital started coverage on Metagenomi in a report on Tuesday, July 7th. They set a “buy” rating and a $5.00 price objective on the stock. Wall Street Zen upgraded Metagenomi from a “strong sell” rating to a “sell” rating in a research report on Monday, July 20th. Finally, Weiss Ratings downgraded Metagenomi from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday.

Metagenomi Trading Down 1.2%

Shares of NASDAQ:MGX opened at $1.21 on Thursday. The company has a market capitalization of $45.37 million, a PE ratio of -0.52 and a beta of 0.69. Metagenomi has a twelve month low of $1.13 and a twelve month high of $3.95. The firm has a 50 day simple moving average of $1.26 and a 200-day simple moving average of $1.42.

Metagenomi (NASDAQ:MGX) last issued its earnings results on Monday, May 11th. The company reported ($0.61) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.60) by ($0.01). The company had revenue of $1.25 million during the quarter, compared to analyst estimates of $5.90 million. Metagenomi had a negative net margin of 384.61% and a negative return on equity of 51.23%. As a group, equities research analysts predict that Metagenomi will post -2.17 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in MGX. Renaissance Technologies LLC lifted its stake in Metagenomi by 25.4% in the first quarter. Renaissance Technologies LLC now owns 787,900 shares of the company’s stock valued at $1,056,000 after buying an additional 159,500 shares during the last quarter. Jane Street Group LLC increased its holdings in shares of Metagenomi by 341.6% in the 4th quarter. Jane Street Group LLC now owns 433,859 shares of the company’s stock valued at $703,000 after acquiring an additional 335,604 shares during the period. Bridgeway Capital Management LLC increased its holdings in shares of Metagenomi by 102.1% in the 4th quarter. Bridgeway Capital Management LLC now owns 395,800 shares of the company’s stock valued at $641,000 after acquiring an additional 200,000 shares during the period. Geode Capital Management LLC raised its position in Metagenomi by 4.8% in the 4th quarter. Geode Capital Management LLC now owns 305,908 shares of the company’s stock valued at $496,000 after purchasing an additional 14,018 shares during the last quarter. Finally, Norges Bank purchased a new stake in Metagenomi in the 2nd quarter valued at $373,000.

About Metagenomi

Metagenomi, Inc (NASDAQ: MGX) is a biotechnology company that specializes in the discovery and engineering of novel proteins and enzymes using metagenomics and CRISPR-based genome editing. The company’s proprietary platform integrates vast environmental DNA libraries with advanced machine learning and high-throughput screening to identify, optimize and commercialize enzymes for industrial, agricultural and pharmaceutical applications. By tapping into genetic diversity found in nature, Metagenomi aims to accelerate the development of tailored biocatalysts that improve process efficiency, reduce costs and support sustainability initiatives.

Metagenomi’s technology offerings include custom enzyme discovery services, protein engineering tools and licensing of optimized biocatalysts to partners across multiple sectors.