Metagenomi, Inc. (NASDAQ:MGX) Receives $9.00 Consensus Target Price from Brokerages

Shares of Metagenomi, Inc. (NASDAQ:MGX) have earned an average rating of “Moderate Buy” from the five analysts that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $9.00.

Several research analysts recently commented on the stock. Wells Fargo & Company reduced their price objective on shares of Metagenomi from $12.00 to $9.00 and set an “overweight” rating for the company in a research note on Tuesday, May 12th. Weiss Ratings lowered shares of Metagenomi from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, June 23rd. Finally, Wall Street Zen raised Metagenomi from a “strong sell” rating to a “sell” rating in a research report on Monday, June 15th.

Metagenomi Trading Up 4.1%

Shares of MGX opened at $1.26 on Friday. The firm has a market capitalization of $47.44 million, a P/E ratio of -0.55 and a beta of 0.69. Metagenomi has a 12-month low of $1.13 and a 12-month high of $3.95. The firm has a fifty day moving average price of $1.31 and a 200-day moving average price of $1.46.

Metagenomi (NASDAQ:MGX) last posted its quarterly 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 company had revenue of $1.25 million during 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%. Analysts predict that Metagenomi will post -2.13 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE increased its holdings in shares of Metagenomi by 482.9% during the fourth quarter. Bank of America Corp DE now owns 21,113 shares of the company’s stock valued at $76,000 after acquiring an additional 17,491 shares in the last quarter. AQR Capital Management LLC purchased a new stake in Metagenomi during the 1st quarter worth approximately $119,000. Norges Bank acquired a new position in Metagenomi during the 2nd quarter valued at approximately $373,000. Marshall Wace LLP acquired a new position in Metagenomi during the 2nd quarter valued at approximately $222,000. Finally, Jane Street Group LLC purchased a new position in shares of Metagenomi in the second quarter worth $235,000.

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.