Metagenomi, Inc. (NASDAQ:MGX) Receives $6.33 Average PT from Analysts

Shares of Metagenomi, Inc. (NASDAQ:MGX) have received an average rating of “Moderate Buy” from the four brokerages that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $6.00.

Several research firms have recently weighed in on MGX. Wall Street Zen lowered Metagenomi from a “sell” rating to a “strong sell” rating in a research note on Saturday. Chardan Capital initiated coverage on Metagenomi in a research report on Tuesday, July 7th. They set a “buy” rating and a $5.00 target price for the company. Wells Fargo & Company decreased their price target on Metagenomi to $7.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 11th. Finally, Weiss Ratings upgraded Metagenomi from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, August 12th.

Metagenomi Stock Performance

Shares of Metagenomi stock opened at $1.23 on Monday. The firm’s 50-day simple moving average is $1.23 and its 200-day simple moving average is $1.35. Metagenomi has a twelve month low of $1.13 and a twelve month high of $3.95. The firm has a market cap of $46.47 million, a P/E ratio of -0.49 and a beta of 0.66.

Metagenomi (NASDAQ:MGX) last posted its quarterly earnings results on Monday, August 10th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.55) by ($0.18). The business had revenue of ($0.26) million during the quarter, compared to analyst estimates of $3.01 million. Metagenomi had a negative return on equity of 63.65% and a negative net margin of 384.61%. On average, equities analysts forecast that Metagenomi will post -2.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Metagenomi

Institutional investors and hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC boosted its position in Metagenomi by 276.3% in the fourth quarter. Renaissance Technologies LLC now owns 628,400 shares of the company’s stock valued at $1,018,000 after buying an additional 461,400 shares in the last quarter. Jane Street Group LLC increased its holdings in shares of Metagenomi by 341.6% during the fourth quarter. Jane Street Group LLC now owns 433,859 shares of the company’s stock worth $703,000 after buying an additional 335,604 shares in the last quarter. Norges Bank acquired a new stake in shares of Metagenomi during the second quarter worth approximately $373,000. Bridgeway Capital Management LLC raised its stake in shares of Metagenomi by 102.1% in the fourth 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 last quarter. Finally, Two Sigma Investments LP raised its stake in shares of Metagenomi by 1,394.4% in the third quarter. Two Sigma Investments LP now owns 207,528 shares of the company’s stock valued at $492,000 after acquiring an additional 193,641 shares during the last quarter.

Metagenomi Company Profile

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.