Metagenomi (NASDAQ:MGX) Cut to “Strong Sell” at Wall Street Zen

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

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

Metagenomi Price Performance

MGX opened at $1.21 on Friday. The company has a market capitalization of $45.71 million, a price-to-earnings ratio of -0.49 and a beta of 0.66. Metagenomi has a 1-year low of $1.13 and a 1-year high of $3.95. The business has a 50 day moving average price of $1.23 and a two-hundred day moving average price of $1.35.

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets lifted its position in shares of 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 acquiring an additional 14,389 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of Metagenomi by 508.5% in the 3rd quarter. Bank of America Corp DE now owns 18,766 shares of the company’s stock worth $44,000 after acquiring an additional 15,682 shares during the last quarter. Panagora Asset Management Inc. acquired a new position in shares of Metagenomi in the 4th quarter worth $53,000. Quadrature Capital Ltd acquired a new stake in shares of Metagenomi during the fourth quarter worth $55,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Metagenomi during the third quarter worth $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.