Metagenomi (NASDAQ:MGX) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Metagenomi (NASDAQ:MGX) from a strong sell rating to a sell rating in a research note published on Monday.

Several other research analysts also recently weighed in on MGX. Wells Fargo & Company lowered their target price on Metagenomi from $12.00 to $9.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 12th. Chardan Capital assumed coverage on Metagenomi in a research note on Tuesday, July 7th. They set a “buy” rating and a $5.00 price target for the company. Finally, Weiss Ratings upgraded Metagenomi from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $7.00.

Metagenomi Stock Performance

Shares of MGX opened at $1.24 on Monday. Metagenomi has a fifty-two week low of $1.13 and a fifty-two week high of $3.95. The company has a market capitalization of $46.69 million, a price-to-earnings ratio of -0.54 and a beta of 0.69. The firm has a 50-day simple moving average of $1.27 and a 200-day simple moving average of $1.42.

Metagenomi (NASDAQ:MGX) last released its quarterly earnings results on Monday, May 11th. The company reported ($0.61) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.01). The company had revenue of $1.25 million for the quarter, compared to analysts’ expectations of $5.90 million. Metagenomi had a negative return on equity of 51.23% and a negative net margin of 384.61%. Equities research analysts forecast that Metagenomi will post -2.17 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets boosted its holdings in Metagenomi by 1,840.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 15,171 shares of the company’s stock valued at $36,000 after purchasing an additional 14,389 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Metagenomi by 508.5% during the 3rd quarter. Bank of America Corp DE now owns 18,766 shares of the company’s stock worth $44,000 after buying an additional 15,682 shares in the last quarter. Panagora Asset Management Inc. acquired a new stake in shares of Metagenomi in the 4th quarter valued at approximately $53,000. Quadrature Capital Ltd acquired a new stake in shares of Metagenomi in the 4th quarter valued at approximately $55,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Metagenomi in the 3rd quarter valued at approximately $64,000.

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.