Metagenomi (NASDAQ:MGX) Lowered to Strong Sell Rating by Wall Street Zen

Wall Street Zen downgraded shares of Metagenomi (NASDAQ:MGX) from a sell rating to a strong sell rating in a report issued on Saturday morning.

Several other research analysts have also issued reports on the stock. Weiss Ratings raised shares of Metagenomi from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, August 12th. Wells Fargo & Company decreased their price objective on Metagenomi to $7.00 and set an “overweight” rating on the stock in a report on Tuesday, August 11th. Finally, Chardan Capital assumed coverage on Metagenomi in a research note on Tuesday, July 7th. They issued a “buy” rating and a $5.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Metagenomi presently has an average rating of “Moderate Buy” and a consensus target price of $6.00.

Metagenomi Price Performance

Shares of Metagenomi stock opened at $1.23 on Friday. Metagenomi has a 52-week low of $1.13 and a 52-week high of $3.95. The firm has a market capitalization of $46.47 million, a PE ratio of -0.49 and a beta of 0.66. The company’s fifty day moving average price is $1.23 and its two-hundred day moving average price is $1.35.

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Geode Capital Management LLC boosted its holdings in shares of Metagenomi by 4.8% in the 4th quarter. Geode Capital Management LLC now owns 305,908 shares of the company’s stock worth $496,000 after acquiring an additional 14,018 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in Metagenomi by 1,840.0% during 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 position in Metagenomi by 508.5% in the 3rd quarter. Bank of America Corp DE now owns 18,766 shares of the company’s stock valued at $44,000 after purchasing an additional 15,682 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Metagenomi by 16.1% in the fourth quarter. Wells Fargo & Company MN now owns 118,410 shares of the company’s stock worth $192,000 after purchasing an additional 16,402 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Metagenomi in 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.