Metagenomi, Inc. (NASDAQ:MGX) Receives Average Recommendation of “Moderate Buy” from Analysts

Metagenomi, Inc. (NASDAQ:MGX) has earned an average rating of “Moderate Buy” from the five ratings firms that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $7.00.

Several research firms have commented on MGX. Weiss Ratings upgraded shares of Metagenomi from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, July 8th. Wall Street Zen upgraded shares of Metagenomi from a “strong sell” rating to a “sell” rating in a research note on Monday. Wells Fargo & Company reduced their target price on shares of Metagenomi from $12.00 to $9.00 and set an “overweight” rating for the company in a report on Tuesday, May 12th. Finally, Chardan Capital assumed coverage on shares of Metagenomi in a research note on Tuesday, July 7th. They issued a “buy” rating and a $5.00 price target on the stock.

Metagenomi Stock Up 1.6%

MGX opened at $1.24 on Thursday. Metagenomi has a 12-month low of $1.13 and a 12-month high of $3.95. The stock has a market cap of $46.69 million, a price-to-earnings ratio of -0.54 and a beta of 0.69. The business has a 50 day moving average of $1.27 and a 200-day moving average of $1.42.

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

Institutional Investors Weigh In On Metagenomi

Institutional investors have recently made changes to their positions in the company. Quadrature Capital Ltd bought a new position in shares of Metagenomi during the fourth quarter worth approximately $55,000. Wells Fargo & Company MN lifted its holdings in Metagenomi by 16.1% during the 4th 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 during the last quarter. Man Group plc bought a new stake in Metagenomi in the 3rd quarter valued at $125,000. Dynamic Technology Lab Private Ltd bought a new stake in Metagenomi in the 3rd quarter valued at $64,000. Finally, JPMorgan Chase & Co. grew its holdings in Metagenomi by 4,155.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 62,559 shares of the company’s stock valued at $148,000 after buying an additional 61,089 shares in the last quarter.

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.