Brokerages Set Metagenomi, Inc. (NASDAQ:MGX) PT at $10.00

Metagenomi, Inc. (NASDAQ:MGX) has received an average rating of “Moderate Buy” from the five brokerages that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $10.00.

A number of brokerages have issued reports on MGX. Zacks Research upgraded shares of Metagenomi from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of Metagenomi in a report on Monday, December 22nd. Finally, Wall Street Zen raised Metagenomi from a “sell” rating to a “hold” rating in a research report on Saturday, October 25th.

Metagenomi Trading Down 2.5%

Shares of MGX opened at $1.54 on Thursday. The company has a market cap of $57.83 million, a P/E ratio of -0.64 and a beta of 0.50. The company’s fifty day simple moving average is $1.69 and its 200-day simple moving average is $2.04. Metagenomi has a twelve month low of $1.23 and a twelve month high of $3.95.

Metagenomi (NASDAQ:MGX) last posted its quarterly earnings data on Wednesday, November 12th. The company reported ($0.55) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.60) by $0.05. The firm had revenue of $8.66 million for the quarter, compared to the consensus estimate of $7.82 million. Metagenomi had a negative net margin of 287.06% and a negative return on equity of 43.19%. Analysts predict that Metagenomi will post -2.46 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Pura Vida Investments LLC lifted its holdings in shares of Metagenomi by 260.1% during the second quarter. Pura Vida Investments LLC now owns 952,134 shares of the company’s stock worth $1,409,000 after purchasing an additional 687,743 shares during the period. Peapod Lane Capital LLC increased its holdings in Metagenomi by 1.1% in the 3rd quarter. Peapod Lane Capital LLC now owns 513,815 shares of the company’s stock worth $1,218,000 after buying an additional 5,706 shares during the period. Norges Bank purchased a new position in Metagenomi during the 2nd quarter worth approximately $373,000. Two Sigma Investments LP lifted its stake in Metagenomi by 1,394.4% during the 3rd 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 period. Finally, Good Life Advisors LLC lifted its stake in Metagenomi by 100.0% during the 2nd quarter. Good Life Advisors LLC now owns 200,000 shares of the company’s stock valued at $296,000 after acquiring an additional 100,000 shares during the period.

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.