Fortitude Advisory Group L.L.C. Has $54,000 Holdings in Metagenomi, Inc. (NASDAQ:MGX)

Fortitude Advisory Group L.L.C. decreased its holdings in Metagenomi, Inc. (NASDAQ:MGX) by 51.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 36,790 shares of the company’s stock after selling 38,950 shares during the quarter. Fortitude Advisory Group L.L.C. owned 0.10% of Metagenomi worth $54,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Rhumbline Advisers increased its position in shares of Metagenomi by 123.3% in the fourth quarter. Rhumbline Advisers now owns 11,998 shares of the company’s stock worth $43,000 after purchasing an additional 6,626 shares during the period. Corebridge Financial Inc. grew its stake in Metagenomi by 303.1% during the fourth quarter. Corebridge Financial Inc. now owns 13,602 shares of the company’s stock worth $49,000 after buying an additional 10,228 shares in the last quarter. Voya Investment Management LLC bought a new position in Metagenomi in the 4th quarter valued at about $37,000. Price T Rowe Associates Inc. MD acquired a new position in shares of Metagenomi in the 4th quarter valued at approximately $39,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Metagenomi by 338.7% during 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 during the period.

Metagenomi Price Performance

MGX stock opened at $1.44 on Tuesday. The stock has a market cap of $53.83 million, a price-to-earnings ratio of -0.68 and a beta of -0.33. The company has a 50 day simple moving average of $1.60 and a 200 day simple moving average of $2.23. Metagenomi, Inc. has a 1 year low of $1.23 and a 1 year high of $5.63.

Metagenomi (NASDAQ:MGX) last posted 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). 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 for the quarter, compared to the consensus estimate of $8.75 million. On average, equities research analysts anticipate that Metagenomi, Inc. will post -2.46 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

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.