Brian C. Thomas Sells 10,785 Shares of Metagenomi, Inc. (NASDAQ:MGX) Stock

Metagenomi, Inc. (NASDAQ:MGX) CEO Brian C. Thomas sold 10,785 shares of the firm’s stock in a transaction on Friday, June 6th. The shares were sold at an average price of $1.75, for a total transaction of $18,873.75. Following the transaction, the chief executive officer now directly owns 2,517,491 shares of the company’s stock, valued at $4,405,609.25. The trade was a 0.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Metagenomi Stock Performance

Shares of NASDAQ:MGX traded down $0.06 on Monday, reaching $1.67. The company’s stock had a trading volume of 343,896 shares, compared to its average volume of 798,246. The company has a 50-day simple moving average of $1.59 and a 200 day simple moving average of $2.24. Metagenomi, Inc. has a 52-week low of $1.23 and a 52-week high of $6.90. The company has a market cap of $62.43 million, a P/E ratio of -0.79 and a beta of -0.33.

Metagenomi (NASDAQ:MGX) last released its quarterly earnings results on Tuesday, May 13th. The company reported ($0.68) EPS for the quarter, missing the consensus estimate of ($0.62) by ($0.06). Metagenomi had a negative return on equity of 43.23% and a negative net margin of 134.27%. The company had revenue of $4.13 million during the quarter, compared to analysts’ expectations of $8.75 million. On average, equities research analysts forecast that Metagenomi, Inc. will post -2.46 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on MGX shares. Wells Fargo & Company reissued an “overweight” rating and set a $16.00 price objective (down previously from $20.00) on shares of Metagenomi in a report on Wednesday, May 14th. Chardan Capital decreased their target price on Metagenomi from $13.00 to $12.00 and set a “buy” rating on the stock in a research report on Thursday, May 15th. HC Wainwright cut their price target on Metagenomi from $14.00 to $7.00 and set a “buy” rating for the company in a report on Thursday, April 3rd. Finally, Wall Street Zen downgraded Metagenomi from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $13.00.

Institutional Investors Weigh In On Metagenomi

Several institutional investors have recently modified their holdings of MGX. Voya Investment Management LLC purchased a new stake in Metagenomi during the 4th quarter valued at $37,000. Price T Rowe Associates Inc. MD bought a new position in Metagenomi during the fourth quarter valued at $39,000. Rhumbline Advisers raised its stake in shares of Metagenomi by 123.3% in the fourth quarter. Rhumbline Advisers now owns 11,998 shares of the company’s stock valued at $43,000 after acquiring an additional 6,626 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Metagenomi in the fourth quarter valued at $43,000. Finally, Corebridge Financial Inc. lifted its holdings in shares of 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 during the last quarter.

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.