Brokerages Set Metagenomi, Inc. (NASDAQ:MGX) PT at $9.00

Shares of Metagenomi, Inc. (NASDAQ:MGX) have received an average recommendation of “Moderate Buy” from the five research firms that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $9.00.

Several analysts recently issued reports on MGX shares. Weiss Ratings upgraded shares of Metagenomi from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday. Wall Street Zen upgraded shares of Metagenomi from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 30th. Finally, Wells Fargo & Company cut their target price on shares of Metagenomi from $12.00 to $9.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 12th.

Metagenomi Trading Down 4.7%

NASDAQ MGX opened at $1.23 on Wednesday. The firm has a market capitalization of $46.31 million, a price-to-earnings ratio of -0.53 and a beta of 0.64. The firm’s 50 day simple moving average is $1.37 and its 200 day simple moving average is $1.52. Metagenomi has a 1 year low of $1.21 and a 1 year high of $3.95.

Metagenomi (NASDAQ:MGX) last posted its quarterly 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 firm had revenue of $1.25 million for the quarter, compared to analyst estimates of $5.90 million. Metagenomi had a negative return on equity of 51.23% and a negative net margin of 384.61%. On average, equities research analysts forecast that Metagenomi will post -2.13 earnings per share for the current year.

Institutional Trading of Metagenomi

Hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets boosted its position in Metagenomi by 1,840.0% in the third quarter. BNP Paribas Financial Markets now owns 15,171 shares of the company’s stock valued at $36,000 after buying an additional 14,389 shares in the last quarter. Bank of America Corp DE boosted its position in Metagenomi by 508.5% in the third quarter. Bank of America Corp DE now owns 18,766 shares of the company’s stock valued at $44,000 after buying an additional 15,682 shares in the last quarter. Panagora Asset Management Inc. acquired a new stake in Metagenomi in the fourth quarter valued at approximately $53,000. Quadrature Capital Ltd acquired a new stake in Metagenomi in the fourth quarter valued at approximately $55,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Metagenomi during the third quarter worth $64,000.

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.