Metagenomi (NASDAQ:MGX) Issues Quarterly Earnings Results

Metagenomi (NASDAQ:MGX) announced its quarterly earnings results on Monday. The company reported ($0.63) EPS for the quarter, missing the consensus estimate of ($0.62) by ($0.01), Zacks reports. Metagenomi had a negative return on equity of 43.23% and a negative net margin of 134.27%.

Metagenomi Stock Down 3.1 %

MGX traded down $0.06 during trading hours on Monday, hitting $1.88. The company’s stock had a trading volume of 445,678 shares, compared to its average volume of 728,919. Metagenomi has a fifty-two week low of $1.61 and a fifty-two week high of $11.86. The company has a 50-day simple moving average of $2.52 and a 200 day simple moving average of $2.52.

Hedge Funds Weigh In On Metagenomi

A hedge fund recently raised its stake in Metagenomi stock. Bank of America Corp DE grew its position in shares of Metagenomi, Inc. (NASDAQ:MGX) by 482.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 21,113 shares of the company’s stock after purchasing an additional 17,491 shares during the quarter. Bank of America Corp DE owned 0.06% of Metagenomi worth $76,000 as of its most recent filing with the SEC.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Chardan Capital reaffirmed a “buy” rating and issued a $15.00 target price on shares of Metagenomi in a research report on Wednesday, November 20th. HC Wainwright upped their target price on Metagenomi from $7.00 to $14.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th.

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.